Issue Information

• DOI: http://doi.org/10.1002/jsc.2088
• Date: 01 March 2017
• Published date: 01 March 2017

Strategic Change: Briengs in Entrepreneurial Finance

Strategic Change 26 (2017) CONTENTS

Fifth Special Issue on Micronance and Crowdfunding

Volume 26 Number 2 March 2017

73 Inclusive Finance’s Internal Need: Serving Vulnerable People

Xiao Shan Du

Developing inclusive nance plays an important role in achieving one objective of the 13th ve-year plan for

advancing nancial reform in China.

83 What Causes Multiple Borrowing in Micronance? A Developing Country Experience

Md Aslam Mia

Multiple borrowing in micronance is caused by factors from both the demand and supply sides and poses a

credible threat to the long-term sustainability of the sector.

101 Does Religious Afliation Inuence the Design of Corporate Governance? Evidence from the

Global Micronance Industry

Kwame Ohene Djan and Roy Mersland

Christian aliation has a minimal impact on the design of corporate governance in micronance

organizations.

117 Are Micronance Loan Ofcers Closer to Banking Staff or to Non-prot Workers?

A Motivational Approach

Cécile Godfroid

Even in double-bottom-line-micronance institutions, loan ocers are not all prosocially motivated but rather are

motivated by working conditions and promotions, highlighting the complexity of human resource management

in hybrid organizations.

133 Funding Strategy and Performance of Micronance Institutions: An Exploratory Study

Hubert Tchakoute Tchuigoua, François Durrieu, and Guy Serge Kouao

MFI social and nancial performance diers depending on their funding behavior.

145 Performance of Listed Micronance Institutions

Lâma Daher and Erwan Le Saout

Investment in micronance equity may improve portfolio diversication and attract socially responsible

investors.

159 Do Decision Variables Improve Micronance Efciency? A Stochastic Frontier Analysis for

African Countries

Sandra Kendo

Micronance institutions that aim to increase their asset size and nancial performance boost their eciency

when they make nancial innovations, improve client follow-up, and monitor the projects they support to limit

the risk of failure.

175 Exploring the Determinants of Crowdfunding: The Inuence of the Banking System

Elisabeth Paulet and Francesc Relano

e development of European crowdfunding is directly connected to the prevalent structure of the banking

system in the dierent member states.

193 The Case of Crowdfunding in Financial Inclusion: A Survey

Hyonsu Kim and Lieven De Moor

Crowdfunding can contribute to nancial inclusion through various models of crowdfunding including

donation-based, reward-based, lending-based, and equity-based crowdfunding.