Literature of Journal Entrepreneurial

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Brau, James C.; Woller, Gary M.

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Article

Microfinance: A comprehensive review of the existing literature Journal of Entrepreneurial Finance, JEF Provided in cooperation with: Academy of Entrepreneurial Finance (AEF), Montrose, CA

Suggested citation: Brau, James C.; Woller, Gary M. (2004) : Microfinance: A comprehensive review of the existing literature, Journal of Entrepreneurial Finance, JEF, ISSN 1551-9570, Vol. 9, Iss. 1, pp. 1-27, http://hdl.handle.net/10419/55971

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Microfinance: A Comprehensive Review of the Existing Literature

James C. Brau+ Brigham Young University

and Gary M. Woller++ Brigham Young University

Although the word finance is in the term microfinance, and the core elements of microfinance are those of the finance discipline, microfinance has yet to break into the mainstream or entrepreneurial finance literature. The purpose of this article is to introduce the finance academic community to the discipline of microfinance and microfinance institutions (MFIs). We provide a comprehensive review of over 350 articles and address the issues of MFI sustainability, products and services, management practices, clientele targeting, regulation and policy, and impact assessment.

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Jim Brau is Assistant Professor of Finance and Goldman Sachs Faculty Fellow at the Marriott School, Brigham Young University. His research includes entrepreneurial finance, initial public offerings, and microfinance/microenterprise. He has published in the Journal of Financial Economics, Journal of Business, Journal of Financial Research, Journal of Small Business Management, Journal of Entrepreneurial Finance, Managerial Finance, and Journal of Business Education among others. ++ Gary Woller is Associate Professor of Public Management at the Marriott School, Brigham Young University. His articles on microfinance and international development have appeared in a number of peer-reviewed academic journals, including Journal of International Development, World Development, Policy Studies Journal, Journal of Developmental Entrepreneurship, Non-Profit and Voluntary Sector Quarterly, Contemporary Economic Policy, and the International Review of Economics and Finance. Gary is co-founder and co-editor of the Journal of Microfinance.

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Introduction Although the word finance is in the term microfinance, and the core elements of microfinance are those of the finance discipline, microfinance has yet to break into the mainstream or entrepreneurial finance literature. The purpose of this article is to introduce the finance academic community to the discipline of microfinance and microfinance institutions (MFIs). We provide a comprehensive review of over 350 articles and address the issues of MFI sustainability, products and services, management practices, clientele targeting, regulation and policy, and impact assessment....
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