作為一種新型扶貧手段，小額信貸產業在過去三十年中於發展中國家迅速興起。從業者常常聲稱小額信貸機構能夠為貧窮農民提供金融機會，而這些弱勢群體過去往往被排除在傳統金融機構之外；與此同時，不同於以往的扶貧手段，小額信貸機構被認為能夠在財務上達到平衡乃至盈利。這種雙重目標的前景吸引了許多發展中國家的興趣，因此，小額信貸產業作為解決貧困問題的一種嘗試而在國際舞台上獲得了迅猛的發展。 / 由於中國獨特的社會和政治環境，小額信貸機構的發展有其特殊的軌跡。本研究以深入訪談和參與式觀察為主要研究方法，通過為期三個月的田野調查，對中國西部與北部的兩個非政府小額信貸組織進行了深入考察。研究發現，小額信貸組織正面臨無法同時達成雙重目標的困境；基於觀察與資料分析，本文提出，中國農村社區信任結構的轉型是小額信貸組織面臨多重問題的主要原因。隨著市場經濟的發展與城市化的加速，在日漸瓦解的熟人社會中，小額信貸機構的社會目標被其財務目標所壓制，導致原有的扶貧、婦女賦權等目標難以達成，更形成了目標替代的組織現象。 / 為深入探討小額信貸產業中目標替代的現象，本文從組織目標的合法性與可測量性兩個角度提出假設，指出當邊緣目標具有強烈的合法性和直觀的可測量性，便可能取代相對難以觀測的核心目標。最後，本文指出，為保證小額信貸組織不偏離原有的社會目標，需要設計一種新型的、獨立的測量工具，用以跟踪記錄小額信貸組織的社會影響，並將其作為判斷組織表現的核心因素。 / Known as an innovative tool for poverty alleviation, microfinance has been widely spread in developing countries in the past few decades. It is commonly claimed that microfinance institutions (MFIs) can provide financial opportunities to those who are unable to obtain loans from the formal system, while at the same time maintain their institutional sustainability. This promise has attracted the interest of developing countries with large population in poverty, leading to a remarkable emergence of microfinance industry on the global stage. / Because of the special social and political environment, the development of MFIs in China has its unique trajectory. Based on interviews and participant observation, this three-month research focuses on two non-governmental MFIs in Western China and Northern China, revealing a plight of infeasible dual objectives and proposing an explanation from the angle of transformed trust structure. In a collapsing acquaintance community, the social objectives are suppressed by the demands of self-sustainability, thus violating the original intention of poverty alleviation and women empowerment, and leading to a phenomenon of goal displacement. / To further discuss the logic behind the goal displacement phenomenon in microfinance industry, two propositions are suggested from the angles of legitimacy and measurability of organizational goals. The findings indicate that to ensure the social objective of MFIs, an independent evaluation system is needed to track the social impacts and better assess organizational performances in microfinance industry. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Detailed summary in vernacular field only. / Liu, Ran. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2013. / Includes bibliographical references (leaves 65-74). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstracts also in Chinese. / Chapter 1. --- Introduction --- p.1 / Chapter 2. --- Trust and its Transformation --- p.4 / Chapter 3. --- Debates on Microfinance --- p.11 / Chapter 3.1 --- Development of global microfinance --- p.11 / Chapter 3.2 --- Microfinance in China --- p.18 / Chapter 4. --- Research Settings and Methodology --- p.23 / Chapter 4.1 --- Methodology and Limitations --- p.23 / Chapter 4.2 --- Brief introduction of association A --- p.25 / Chapter 4.3 --- Brief introduction of association B --- p.27 / Chapter 5. --- Microfinance and the Transformation of Trust --- p.29 / Chapter 5.1 --- Urbanization and the transition of clients --- p.29 / Chapter 5.2 --- The Failure of group-lending model --- p.37 / Chapter 5.3 --- The decoupling between practices and regulations --- p.42 / Chapter 5.4 --- Target shift and goal displacement --- p.47 / Chapter 6. --- Discussion: Dual Objectives and Goal Displacement --- p.51 / Chapter 6.1 --- Multiple organizational goals of MFIs --- p.51 / Chapter 6.2 --- Proposition 1: Sustainability as a legitimate goal --- p.55 / Chapter 6.3 --- Proposition 2: Sustainability as a practical goal --- p.58 / Chapter 7. --- Conclusion --- p.62 / References --- p.65 / Chapter Appendix: --- Information of Interviewees --- p.75

University of Macau / Faculty of Law