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基于2009~2011年中国77家小额信贷机构的面板数据,本文建立计量模型实证检验了商业化对其财务绩效和社会绩效的影响。在本文中,商业化被定义为小额信贷机构发放单笔额度大于10万元的贷款总额占当年贷款发放总额的比例,同时以机构规模、经营效率、成立年限、经济发展水平等作为模型的控制变量。实证结果表明:商业化对小额信贷机构的社会绩效产生了一定的负面影响,但对财务绩效有显著的正向影响,同时,机构的经营效率与社会绩效之间存在显著的正向关系。因此,改善机构经营效率、加大政策引导力度可以有效地促进商业化对小额信贷机构绩效的正向影响。
Based on the panel data of 77 microfinance institutions in China from 2009 to 2011, this essay establishes a measurement model to test the impact of commercialization on its financial performance and social performance. In this paper, commercialization is defined as the ratio of the total amount of loans with a single credit of more than 100,000 yuan issued by a micro-credit institution to the total amount of loans granted in the current year. Based on the model of the scale of the operation, operational efficiency, the establishment of the economy, the level of economic development, etc. Control variables. The empirical results show that commercialization has a negative impact on the social performance of MFIs, but it has a significant positive impact on financial performance. Meanwhile, there is a significant positive relationship between the operational efficiency and social performance of MFIs. Therefore, to improve the efficiency of institutional management and increase policy guidance can effectively promote the positive impact of commercialization on the performance of MFIs.