Submitted by Rosangela Silva (rosangela.silva3@unioeste.br) on 2018-05-15T20:07:48Z No. of bitstreams: 2 Sandro Filgueiras.pdf: 1519758 bytes, checksum: f316ef0db4d8b276aceaf35e6ef00edc (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) / Made available in DSpace on 2018-05-15T20:07:48Z (GMT). No. of bitstreams: 2 Sandro Filgueiras.pdf: 1519758 bytes, checksum: f316ef0db4d8b276aceaf35e6ef00edc (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) Previous issue date: 2018-02-02 / Oriented productive microcredit: study of the borrowers of the Agência de Fomento do Paraná in the Francisco Beltrão (PR). 2018. 84 f. Dissertação (Mestrado Profissional em Administração) - Universidade Estadual do Oeste do Paraná, Cascavel, 2018. The aim of this study was to analyze whether the credit granted by the Paraná Development Agency was enough to meet the capital needs of the borrowers in the city of Francisco Beltrão in 2014. The methodology used was that of multiple case studies (cross-case) in a qualitative research using a structured questionnaire applied to 30 projects. The results pointed to insufficient financing of projected investment in a large number of respondents, placing them at the mercy of complementary loans in the traditional credit market with higher interest rates or readjustments in the original projects. Such insufficiency shows that the duet formed by the need for strategic capital and the concern with the sustainability of this credit policy in banking risk, interferes in the fulfillment of its immutable purpose. However, these investments were perceived in the majority of cases as generators of business improvements, employment generation, income growth and quality of life of the families in the same period. These results can help to build the knowledge about this credit policy in order to foment its continuity, modernization and greater fairness to its objectives. The suggestion for future research lies in the pretension of obtaining such data in a census evaluation made possible in the partnership with financial institutions that provide this modality that includes the collection of correlated data in its activities. / Microcrédito produtivo orientado: estudo dos mutuários da agência de Fomento do Paraná na sala do empreendedor de Francisco Beltrão (PR). 2018. 84 f. Dissertação (Mestrado Profissional em Administração) – Universidade Estadual do Oeste do Paraná, Cascavel, 2018. Este estudo teve como objetivo analisar se o crédito concedido pela Agência de Fomento do Paraná foi suficiente para atender às necessidades de capital para investimento dos mutuários atendidos na cidade de Francisco Beltrão no ano de 2014. A metodologia utilizada foi a de múltiplos estudos de caso (cross-case) em uma pesquisa qualitativa com utilização de questionário estruturado aplicado a 30 empreendimentos. Os resultados apontaram para financiamentos insuficientes ao investimento projetado, em uma grande parcela dos entrevistados, colocando-os a mercê de empréstimos complementares no mercado tradicional de crédito com taxas de juros superiores ou a readaptações nos projetos originais. Tal insuficiência demonstra que o dueto formado pela necessidade de capital estratégico e a preocupação com a sustentabilidade desta política de crédito no risco bancário, interfere no cumprimento de seus objetivos pétreos. Contudo, ainda assim, tais investimentos foram percebidos, na grande maioria, como geradores de melhorias no negócio, geração de emprego, incremento de renda e qualidade de vida das famílias no mesmo período. Estes resultados podem auxiliar na construção do conhecimento sobre esta política de crédito, a fim de fomentar sua continuidade, modernização e maior justeza aos próprios objetivos. A sugestão para futuras pesquisas fica na pretensão de obter tais dados em uma avaliação censitária possibilitada, quem sabe, na parceria com instituições financeiras concessoras desta modalidade que inclua coleta de dados correlata em suas atividades.

Made available in DSpace on 2016-08-18T18:53:59Z (GMT). No. of bitstreams: 1 WILSON DE BARROS BELLO FILHO.pdf: 3493670 bytes, checksum: 7f8f4f1884bb717b43eaacebe8cdd5f2 (MD5) Previous issue date: 2010-08-26 / Why do people believe that microcredit is a public policy that helps to defeat poverty? That‟s the main question which is faced within this work. A preliminary research had suggested that neither evaluation studies nor a strongly developed conceptual framework existed, so that there were no easy explanations to that belief. In order to reveal the missed explanations, the analysis was structured in three moments: the historical and sociological backgrounds of microcredit policy, the analytical foundations of microcredit policy as a anti-poverty policy; the rhetorical tools used to strengthen the belief in microcredit policy. The study of historical and sociological backgrounds of microcredit policy made it possible to find that both political relations and political environment were necessary to its growth in popularity by the 1990 decade, when policies devoted to local scale begun to be accepted worldwide. The study of analytical foundations of microcredit policy confirmed that there is not a strongly developed conceptual framework and showed that there are many reasons to distrust the belief that microcredit policy is devoted to defeat poverty and is able to do it. The study of rhetorical tools used to communicate the strong belief in microcredit policy showed that these tools can compensate the analytical weakness of this belief. The use of rhetorical tools explains why people ignore all possible doubts upon microcredit policy and continue to believe it‟s a good way to defeat poverty. / Por que as pessoas acreditam que o microcrédito é uma política pública que ajuda a derrotar a pobreza? Essa é a principal questão que é enfrentada neste trabalho. Uma pesquisa preliminar sugeria que nem estudos de avaliação nem um quadro conceitual fortemente desenvolvido existiam, de modo que não havia qualquer explicação fácil para essa crença. A fim de encontrar as explicações que faltavam, a análise foi estruturada em três momentos: os antecedentes históricos e sociológicos da política de microcrédito; os fundamentos analíticos da política de microcrédito enquanto política anti-pobreza; as ferramentas retóricas usadas para fortalecer a crença na política de microcrédito. O estudo dos antecedentes históricos da política de microcrédito tornou possível verificar que tanto relações políticas quanto o ambiente político foram necessários para o crescimento da sua popularidade na década de 1990, quando as políticas devotadas à escala local começaram a ser aceitas em todo o mundo. O estudo dos fundamentos analíticos da política de microcrédito confirmou que não há um quadro conceitual fortemente desenvolvido e mostrou que há muitas razões para desconfiar da crença de que a política de microcrédito está voltada para a superação da pobreza e é capaz de fazê-lo. O estudo das ferramentas retóricas usadas para comunicar a forte crença na política de microcrédito mostrou que tais ferramentas podem compensar a fraqueza analítica dessa crença. O uso de ferramentas retóricas explica por que as pessoas ignoram todas as possíveis dúvidas sobre a política de microcrédito e continuam a acreditar que ela seja um bom modo de vencer a pobreza.

O Microcrédito ganhou notoriedade a partir da experiência do Banco Grameen, em Bangladesh, nos anos 70. A expansão e o crescimento das microfinanças, nas últimas décadas, atraiu a atenção de pesquisadores e governos, tornando-se um instrumento de políticas públicas para o combate à pobreza, e trouxe com elas a necessidade de maior transparência e de padronização das informações sobre o desempenho financeiro para alcançar dois objetivos: a atração de recursos financeiros de organismos internacionais de auxílio e fomento, bancos de desenvolvimento e investidores, para funding das operações; permitir a comparação dos resultados Instituições Microfinanceiras. No Brasil, o Microcrédito surgiu nos anos 70, e ganhou maior impulso no final da década de 90, quando se criou a regulamentação específica para o setor. Este trabalho teve por objetivo definir um modelo de medição de performance para as instituições financeiras não bancárias autorizadas a trabalhar neste segmento, as Sociedades de Crédito ao Microempreendedor, avaliar seu desempenho quanto à qualidade dos ativos, eficiência operacional, gestão financeira e lucratividade, no período de dezembro de 2000 a dezembro de 2004, e compará-lo ao de Instituições Microfinanceiras atuando na América Latina. Partindo de uma extensa pesquisa bibliográfica, identificou indicadores de performance usados internacionalmente, cujos conceitos foram amplamente discutidos e consensados. Eles foram adaptados ao Plano Contábil das Instituições Financeiras e aplicados aos dados de balanço e demonstrativo de resultados fornecidos pelo Banco Central do Brasil, permitindo traçar um painel da evolução do segmento de microcrédito atendido pelas Sociedades de Credito ao Microempreendedor. A avaliação do comportamento dos indicadores indicou um segmento em desenvolvimento; um processo de crescimento baseado em capital próprio, com baixa utilização de recursos de terceiros; resultados financeiros elevados que, quando combinados com despesas altas, geram resultados modestos. A comparação com as operações em outros países latino-americanos mostrou que as Sociedades de Crédito ao Microempreendedor possuem ativos de maior risco, menor eficiência operacional, nível de endividamento muito mais baixo e índices de lucratividade menos significativos que os de suas pares internacionais. Mostrou, também, que as instituições locais são muito menores e mais jovens. Para o desenvolvimento do microcrédito no Brasil, é fundamental que o governo aumente a atratividade do setor, e atue para resolver uma falha de mercado, onde as instituições privadas não estão totalmente à vontade para atuar, criando condições para a expansão das entidades privadas e para a entrada de instituições internacionais, trazendo o conhecimento e a experiência de outros mercados. / The Grameen Bank experience of lending small money to poor people, in Bangladesh, during the seventies, made microcredit famous all over the world. Microfinance growing and expansion in the last two decades attracted attention of researchers and governments, becoming a new public policy tool in order to combat poverty, and demanded more transparent and standardized performance information not only to support investment decisions for donors, development banks and investors, but also to make international benchmarking possible. In Brazil, microcredit appeared in the 1970s, but started to grow rapidly in the 1990s, when a specific legal framework was established. The present study aimed to: define a performance model for brazilian non banking finance institutions handling microcredit, Sociedades de Crédito ao Microempreendedor; create performance indicators to evaluate asset quality, operational efficiency, financial management, and profitability, over a period of 5 yeras, 2000-2004; make a benchmark with latin american microfinance institutions. A bibliographic research identified internationally adopted performance indicators, whose concepts and definitions were fully discussed and consensed. They were adapted according to the Accounting Chart for Institutions of the National Financial System, COSIF, and applied to institutions balance sheet data furnished by brazilian Central Bank, providing an overview of the microcredit segment operated by Sociedades de Crédito ao Microempreendedor. Indicators evaluation showed that brazilian microfinance instituitions operate in a development market, have low debt-equity ratios, and achieve good financial results that are offset by high expenses. The benchmark with other latin american microfinance institutions showed that brazilian ones have poorer asset quality, lower operational efficiency and debt-equity ratio, and worse financial results. They are also smaller and younger than their latin american peers. In order to incentive microcredit expansion and development, brazilian government policies must fix a market failure, that private institutions and commercial banks are not fully supportive of microcredit. This could make brazilian market more attractive for national and international institutions, bringing more investments and estimulating consulting services, which would aggregate knowledge and experience from other markets.

O desemprego é dos grandes problemas enfrentados pela sociedade moderna e, sabidamente, os microempreendimentos têm um potencial maior para gerar empregos que as grandes organizações. Um dos principais problemas enfrentados pelos microempreendimentos é a falta de recursos financeiros para implementar seus investimentos. A fim de suprir essa demanda latente, várias ONGs foram fundadas com o intuito de lhes fornecer empréstimos de pequeno valor, conhecidos por microcréditos. Dentre os desafios que as ONGs de microcrédito devem superar para se consolidar no mercado, está a busca pela auto-suficiência econômica. Por meio de um estudo de caso com dezessete organizações brasileiras associadas à ABCRED, conclui-se que há indícios que algumas técnicas e seus respectivos procedimentos têm mais relevância para que se alcance a auto-suficiência. O estudo também apresenta diversas informações sobre as ONGs de microcrédito brasileiras que participaram do estudo de caso, permitindo que se tenha uma noção das características e peculiaridades desse segmento de atividade. / Unemployment is one of the most serious problem faced by the present society and the microundertakings, well embased, own a higher potencial to generate employment if compared with large organizations. The privation of financial resoucers is one of the basic problems faced by the microundertakings, in order to implement their investiments. To supply this latent demand, several Non-Governamental Organizations were stablished to offer loan low costs named as microcredits. Among the challenges the NGO must overcome, in order to be solidified on the market, it is necessary to highlight the search for economic selfsuficiency. Using this study case containing seventeen brazilian organizations connected to ABCRED, was concluded that there are traces showing some techniques and conducts owning more pertinent structure in order to reach the self-suficiency. This study also aims at showing several information related to Brazilian Microcredit ONGs, those ones that took part into this study case, supporting us by the opportunity of obtaining characteristic conceptions and singularities from this segment.

Submitted by Edson Macedo (edsonmacedo@gmail.com) on 2013-09-26T02:17:44Z No. of bitstreams: 1 The Relationship between Kinship and Microloan Performance.pdf: 825813 bytes, checksum: ff7e142b1e9ae57f59e0b786a53946b3 (MD5) / Approved for entry into archive by ÁUREA CORRÊA DA FONSECA CORRÊA DA FONSECA (aurea.fonseca@fgv.br) on 2013-09-27T13:58:37Z (GMT) No. of bitstreams: 1 The Relationship between Kinship and Microloan Performance.pdf: 825813 bytes, checksum: ff7e142b1e9ae57f59e0b786a53946b3 (MD5) / Approved for entry into archive by Marcia Bacha (marcia.bacha@fgv.br) on 2013-09-30T12:10:07Z (GMT) No. of bitstreams: 1 The Relationship between Kinship and Microloan Performance.pdf: 825813 bytes, checksum: ff7e142b1e9ae57f59e0b786a53946b3 (MD5) / Made available in DSpace on 2013-09-30T12:11:41Z (GMT). No. of bitstreams: 1 The Relationship between Kinship and Microloan Performance.pdf: 825813 bytes, checksum: ff7e142b1e9ae57f59e0b786a53946b3 (MD5) Previous issue date: 2013-08-28 / I exploit a large data set of microloans from a MFI of Brazilian northeastern to investigate whether the kinship ties influence the likelihood of repayment. I found evidence that the kinship relationship between members of a group loan positively affects repayment. Groups in which all members are connected somehow by kinship have a 24% lower probability of default compared to groups without such connections. Additionally, I show that a group loan with 100% of kinship has a 45% lower probability of default in the first loan than groups lacking of kinship ties among members. I also found a negative relationship between kinship and change in the group formation. These results allow us to infer about the mechanisms of group lending and suggest that the greatest impact of kinship on microloan performance occur through screening activities. The results also suggest that the improvement on monitoring activities outweigh the weakening of enforcement. / A partir de uma grande base de dados fornecida por uma instituição de microcrédito do nordeste brasileiro, a relação entre parentesco e inadimplência é analisada. O presente trabalho mostra evidências de que o parentesco entre membros de um grupo solidário afeta positivamente a adimplência. Grupos em que todos os membros possuíam algum laço de parentesco entre si apresentaram uma probabilidade 24% menor de inadimplência do que grupo sem esses laços. Além disso, quando considerado apenas o primeiro empréstimo, grupos com 100% de parentesco entre os membros apresentaram uma probabilidade 45% menor de inadimplência em comparação com membros sem relações de parentesco. Os resultados deste trabalho também mostram que há uma relação negativa entre parentesco e probabilidade de mudança na formação de um grupo solidário. Essas análises permitem fazer inferências acerca dos mecanismos pelos quais o parentesco afeta o desempenho do microcrédito. Os resultados sugerem que o parentesco possui um benefício maior no processo de autosseleção do grupo. Além disso, os resultados também sugerem que o impacto positivo do parentesco nas atividades de automonitoramento compensa o enfraquecimento das atividades de enforcement.

This thesis eschews an econometric approach to the analysis of microfinance initiatives in favour of a wider, political economy approach. It paints a picture of the international financial and socio-economic environment in which microfinance as a practice has developed since the mid-1970s, and the introduction outlines the political agendas that fuel the theoretical debate over development, and the manner in which the self-proclaimedly objective scientific rationale that underlines the dominant neoliberal hegemony is in reality no such thing. The introduction is followed by a methodological explanation of the necessity to examine microfinance in such a context, and then deals with the combination of approaches included in the thesis, sources, and data-collection methods of the fieldwork in Nicaragua. The next three chapters comprise the body of theoretical and literary evidence in support of this methodology, from the international down to the sectoral level within Nicaragua. Having located the Nicaraguan microfinance sector within a theoretical, international and national context, the subsequent chapter moves to examine the local context. The fieldwork in Nicaragua culminates in a combined map- and questionnaire-based exercise set in Masaya, a city some 27 kilometres roughly south of Managua, the capital. The chapter examines the structure and functions of two local microfinance organisations, FAMA and ADIM, and conducts a close examination of the population amongst which these microfinance organisations operate. The survey of the socioeconomy of households within the Masaya area concludes by casting doubts on, traditional methods of microfinance impact assessment, and suggests a different approach to studying microfinance. The thesis concludes by suggesting that the current vogue for envisaging microfinance initiatives as purely financial operations to be analysed as an accounting phenomenon is not only mistaken, but has potentially damaging consequences. The thesis argues that microfinance must be seen within local, national and international political contexts, and that doing so will help avoid costly errors. The thesis also suggests that the demand for new client-orientated initiatives will be assisted by taking the political economic reality into account, and by using methods such as those suggested by this thesis.

Magister Artium - MA / According to Professor Muhammed Yunus, Nobel Prize winner in 2006 and the founder of the internationally acclaimed Grameen Bank in Bangladesh, microfinance is a viable solution to poverty alleviation among the poorest people residing in rural areas. Microfinance programs have led to poverty alleviation and empowerment of especially rural based women of developing societies, as they enable the poor to manage their finances and cope with unpredictable shocks and emergencies (Yunus, 2007). This research evaluated the developmental impact of microfinance on poverty alleviation and women empowerment. It assessed the impact of the existing microfinance programmes among the members of the three microfinance Savings and Credit Associations (SCAs) in the rural areas of the Caprivi region of Namibia. This study explored whether microfinance programs have helped their members to minimize financial vulnerability through diversification of income sources and accumulation of assets. The research employed both qualitative and quantitative research designs. Data were collected through different qualitative and quantitative techniques (in-depth individual interviews, faceto- face interviews, questionnaire and questionnaire schedule). Summary findings indicate that the SCAs has positively contributed to the socio-economic improvement in the living standards (contribution to livelihood – increased income, enhanced health, and food status), improved education/healthcare, women empowerment through micro enterprise training and skill development. However, SCAs are still struggling with challenges, such as lack of income, high default rates and unprofitable micro enterprises. This research makes several recommendations, including: MFIs should concentrate on women’s economic empowerment as their main aim, incentives should be provided to the MFIs to encourage savings and investment amongst the poor, and if microfinance is to be used as a promotional tool for credit and saving services for the poor, then the socio-economic consequences of micro-credit lending have to be re-investigated, especially when they negatively impact on poverty reduction.

The first chapter of this thesis is an introduction to issue of microfinance. This chapter is about characteristic, targets and social importance of microfinance loans and about birth and history where microfinance started to help and who is founder of microfinance. There is also describing of today's microfinance market, the distribution and characteristics every single microfinance regions: number of microfinance institution, gross loan portfolio and another main attribute for every region. The aim of next chapter is to review actual trends which are typical for microfinance sector. The most important trends are new products, separation microfinance institutions for profit and non-profit institutions, financial sources, rising regulation of microfinancial institution and changing quality of gross loan portfolio in time. The last chapter is about the quality of loan portfolio selected states from Latin Amerika and Asia where the impact of internal and macroeconomics variables to quality of gross loan portfolio is tested by regression model.

This diploma thesis focuses on microfinance, it's basic characteristics and general principles of it's function. It introduces microfinance approaches, development of microfinance, microfinancial services and microfinance providers. Two largest microfinance institutions in Bangladesh, Grameen bank a BRAC, illustrate how microfinance works, helps to empower the poor and reduces their poverty in one of the poorest countries in the world.

In the following paper I have tried to find the correlation between type of ownership and effective risk management in the operations of microfinance institutions in India. The results found are consistent with the current findings of how the type of ownership does not impact both the financial or social performance of MFIs. Dataset of 72 MFIs was acquired from the Microfinance Information Exchange on MFIs and evaluated using an OLS regression. The results show that the type of ownership insignificantly impacts both the credit and liquidity risk ratios of MFIs. It is possible that the impact of ownership type is more evident in other aspects of operations. In the future, a study on type of ownership and exposure to strategic and market risks could be a way forward.