Evaluation of the Effect of Risk Management Practices on the Performance of Microfinance Institutions

Abdel-Ménaf, I. (2016). Credit Risk Management Practices in Microfinance: Evidence from Selected Microfinance Institutions in Togo. International Journal of Science and Research, 6(11), 2198-2203
Addae-Korankye, A. (2014). Causes and Control of Loan Default/Delinquency in Microfinance Institutions in Ghana. American International Journal of Contemporary Research, 4(12): 36-45.
Adeusi, S. O., Akeke, N. I., Adebisi, O. S., & Oladunjoye, O. (2013). Risk Management and Financial Performance of Banks in Nigeria. Journal of Business and Management, 14 (6), 52-56
Akerlof, G. A. (1970). The Market for Lemons: Quality Uncertainty and the Market Mechanism. Quarterly Journal of Economics, 84 (3), 488-500.
Akkizidis, I., & Khandelwal, S. K. (2008). Financial Risk Management for Private Hospitals and Finance. Palgrave Macmillan
Allayannis, G., & James, W. (2001). The Use of Foreign Currency Derivatives and Firm Market Value.Review of Financial Studies, 14, 243–276.
Al-Matari, E., Al-Swidi, A., & Fadzil, F. (2014). The Measurements of Firm Performance’s Dimensions. Asian Journal of Finance and Accounting, 6(1), 24-49
Appiah-Konadu, P., Churchill, F. Q., Agbodohu, W., & Frimpong, H. K. (2016). Evaluating the Credit Risk Management Practices of Microfinance Institutions in Ghana: Evidence from Capital Line Investment Ltd. and Dream Finance Ltd. Archives of Business Research, 4(5), 72-80
Armendariz, D., & Morduch, J. (2010). The Economics of Microfinance. Cambridge: MIT press.
Bagh, T., Khan, M. A., & Sadaf, R. (2017). The Underlying Impact of Risk Management Practices on Banks Financial Performance: An Empirical Analysis on Financial Sector of Pakistan. International Journal of Research in Business Studies and Management, 4(7), 10-23.
Berhanu, A. (2005). Determinants of Formal Source of Credit Loan Repayment Performance of Smallholder Farmers: The Case of North Western Ethiopia, North Gondar. Unpublished MSc. Thesis. Alemaya University, Ethiopia
Boateng, A. A., & Boateng, G. O. (2014). An Appraisal of Risk Management Practices of Microfinance Institutions in Ghana. Journal of Economics and Sustainable Development, 5(6), 14-18
Boateng, G. O., Boateng, A. A., & Bampoe, H. S. (2015). Microfinance and Poverty Reduction in Ghana: Evidence from Policy Beneficiaries. Review of Business & Finance Studies, 6(1), 99-108.
Boateng, I. A., & Agyei, A. (2013). Microfinance in Ghana: Development, Success Factors and Challenges. International Journal of Academic Research in Accounting, Finance and Management Sciences, 3(4), 153-160
Bryman, A., & Bell, E. (2007). Business Research Methods. (2nd Ed.). Oxford University Press.
Carter, D., Daniel, R., & Betty, S. (2006). Does Fuel Hedging Make Economic Sense? The Case of The U.S. Airline Industry. Financial Management, 35(1), 53-86.
Eisenhardt, K. M. (1989), "Agency theory: an assessment and review", The Academy of Management Review, 14 (1), 57-74.
Eppy, I. (2005). Perceived Information Asymmetry, Bank lending Approaches and Bank Credit Accessibility by SMEs in Uganda Unpublished PHD Thesis, Makerere University.
Freeman, R. E. (1984). Strategic management: A stakeholder approach, Prentice-Hall, Englewood Cliffs, NJ.
Frempong, L N., Nartey, O. T. & Korankye, B. A. (2019). The Influence of Risk Management on Organizational Efficiency: A Study of Access Bank Ghana Limited. Research Journal of Finance and Accounting. 10:(10) ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) DOI: 10.7176/RJFA
Froot, K. A., Scharfstein, D. S. & Stein, J. C. (1993). Risk Management: Coordinating Corporate Investment and Financing Policies. The Journal of finance, 48(5), 1629-1658.
Gatuhu, R. N. (2013) The effect of Credit Management on the Financial Performance of Microfinance Institutions in Kenya. Master Thesis of School of Business, University of Nairobi. Pg 46
Geczy, C., Minton, B. A., & Schrand, C. (1997). Why Firms Use Derivatives. The Journal of Finance, 52(4), 1323-1354.
Grant, C., & Osanloo, A. (2014). Understanding, Selecting, and Integrating a Theoretical
Framework in Dissertation Research: Creating the Blueprint for ‘House’.Administrative Issues Journal: Connecting Education, Practice and Research, Pp. 12-22
DOI: 10.5929/2014.4.2.9.
Hair, J. F., Black, W. C., Babin, B. J. & Anderson, R. E. (2010) Multivariate data analysis (7th ed.). Pearson Prentice Hall.
Jensen, M. C., & Meckling, W. H. (1976), "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure", Journal of Financial Economics, 3 (4), 305-360.
Jin, Y., & Jorion, P. (2006). Firm Value and Hedging: Evidence from US Oil and Gas Producers. The Journal of Finance, 61(2), 893-919.
Judge, A. (2006). Why and How UK Firms Hedge. European Journal of Finance, 12(3), 407-441.
Kalu, E. O., Shieler, B., & Amu, C. U. (2018). Credit Risk Management and Financial Performance of Microfinance Institutions in Kampala, Uganda. Independent Journal of Management and Production, 9(1), 153-169.
Karlan, D., & Zinman, J. (2004). Observing Unobservable: Identifying Information Asymmetries with a Consumer Credit Field Experiment. Princeton Economics Department working Paper.
Kauna, K. E. (2016). Effect of Credit Risk Management Practices on Financial Performance of Commercial Banks in Kenya. Unpublished Thesis. University of Nairobi
Kenny, A. S., Jumoke, O., & Faderera, O. A. (2014). Risk Management Practices and Financial Performance: Evidence from The Nigeria Deposit Money Banks (DMBs). The Business and Management review, 4(4), 31-39
Khizer, A., Muhammad, F. A., & Sharma, S. (2011). Financial and Non-Financial Business Risk Perspectives: Empirical Evidence from Commercial Banks. Middle Eastern Finance and Economics, 151-159
Kiprop, L. F. (2017). Effect of Risk Evaluation on Performance of Financial Institutions. Journal of Accounting, 2(3), 54-68
Klimczak, K. M. (2005). Corporate Risk Management from Stakeholders' Perspective. TRANS’ 05, SGH, Warszawa, Poland, 371-380.
Korir, M. K. (2012). Effects of Credit Risk Management Practices on Financial Performance of Deposit Taking Microfinance Institutions in Kenya. Unpublished MBA Project. University of Nairobi
Kothari, C. R. (2011). Research Methodology: Methods and Techniques. New Delhi, New Age International (P) Ltd Publishers.
Mago, S., Hofisi, C., & Mago, S. (2013). Microfinance Institutions and Operational Risk Management in Zimbabwe: Insights from Masvingo Urban. Mediterranean Journal of Social Sciences, 4 (3), 159-168.
Makokha, A. N., Namusonge, G. S., & Sakwa, M. (2016).Effect of Risk Management Practices on Financial Performance in Kenya Commercial Banks. Research Journal of Finance and Accounting, 7(16), 222-226
Muthii, W., Wanjohi, J. G., & Ndambiri, J. M. (2017).The Effect of Financial Risk Management on The Financial Performance of Commercial Banks in Kenya. International Journal of Finance and Banking Research, 3(5), 70-81
Mwangi, Y. K. (2014). The Effect of Risk Management on Financial Performance of Commercial Banks in Kenya. Unpublished thesis. Master of Science in Finance, School of Business, University of Nairobi.
Nair, G. K., Purohit, H., & Choudhary, N. (2014). Influence of Risk Management on Performance: An Empirical Study of International Islamic Bank. International Journal of Economics and Financial Issues, 4(3), 549-563.
Nguthi, F. N. (2007). Adoption of Agricultural Innovations by Smallholder Farmers in the Context of HIV/ AIDS: The Case of the Tissue-cultured Banana in Kenya. PhD thesis Wageningen University, Wageningen, 208 pages.
Ngutor, N., Falaye, A. A., Onah, E., Nyor, A., Evans, O. P., Abass, O., & Adama, N. V. (2013). Analysis and Computation of the Performance of Microfinance Banks in Nigeria: A case study of Standard Microfinance Bank Yola. Progress in Applied Mathematics, 5(1), pp.64-78.
Olalere, O., Omar, W. A. W., & Ahmad, W. (2016). The Empirical Effectsof Credit Risk on Profitability of Commercial Banks: Evidence from Nigeria.?International Journal of Science and Research (IJSR), 391(8),1645-1649
Opoku-Adarkwa, R. (2011). Risk Management and Bank Performance. A Case Study of First Atlantic Merchant Bank Ghana Limited (FAMBL).Unpublished MBA Research, Kwame Nkrumah University of Science and Technology, Kumasi
Oyerogba, E. O., Ogungbade, O. I., & Idode, P. E. (2016). The Relationship Between the Risk Management Practices and Financial Performance of The Nigerian Listed Banks. Accounting and Management Information Systems, 15(3), 565-587
Parrenas, J. C. (2005). Risk Monitoring Procedures used by Commercial Banks: A Survey of Commercial Banks in Four Asian Emerging Market
Pearl-Kumah, S., Yakubu, A. S., & Bawuah, B. (2014). Corporate Governance and Risk Management inthe Banking Sector of Ghana. European Journal of Accounting Auditing and Finance Research, 2(2), 1-17.
Ross, S. A. (1973), "The economic theory of agency: the principal's problem", The American Economic Review, 63 (2), 134-139.
Sathyamoorthi, C. R., Mogotsinyana, M., Mphoeng, M. & Mashoko, D. (2020). Impact of Financial Risk Management Practices on Financial Performance: Evidence from Commercial Banks in Botswana. Applied Finance and Accounting, 6(1), 25-36
Smith, C. W., & Stulz, R. M. (1985). The Determinants of Firm's Hedging Policies. Journal of Finance and Quantitative Analysis, 20(4), 391-405
Stiglitz, J. (2001). Principles of Financial Regulation: A Dynamic Portfolio Approach. The World Bank Research Observer, 16(1), 1-18.
Stiglitz, J. E., & Weiss, A. (1981). Credit rationing in markets with imperfect information, American Economic Review, 71(3), 393-410.
Tanui, J. K., Wanyoike, D. M., & Ngahu, S. (2015). Assessment of Credit Risk Management Practices on Financial Performance among Deposit Taking SACCOs in Nakuru East Sub County, Kenya. International Journal in Management and Social Science, 3(5), 602-610
Vanroose, A., & D’Espallier, B. (2013), Do Microfinance Institutions Accomplish Their Mission? Evidence from The Relationship Between Traditional Financial Sector Development and Microfinance Institutions’ Outreach and Performance. Applied Economics, 45, 1965- 1982.
Wamalwa, M. F., & Mukanzi, C. (2018). Influence of Financial Risk Management Practices on Financial Performance of Commercial Banks in Kenya, A Case of Banks in Kakamega County. The Strategic Journal of Business and Change Management, 5(4), 1040-1056.
Wanjiru, L. K. (2011). Strategic Responses of Equity Bank to Fraud Related Risks. Unpublished MBA Research, Kenyatta University.
Weinberg, J. A. (2006). Borrowing by U.S. Households. Federal Reserve Bank of Richmond. Economic Quarterly, 92(3), 3-6
Wenk, D. (2005). “Risk Management and Business Continuity, Overview and Perspective”. Journal of the Chartered Insurance Institute. 3(3), 234-246
Wichterich, C. (2012). The Other Financial Crisis: Growth and Crash of The Microfinance Sector in India. Palgrave Macmillan Journals, 55(3), 406–412.
Williamson, O. E. (1998). The Institutions of Governance”, The AEA Papers and Proceedings, 88(2), 75-79.
Woolcock, M., & Narayan, D. (2000). Social capital: Implications for development theory, research, and policy. The world bank research observer, 15(2), 225-249
Zubairi, H. J., & Ahson, S. (2015). Impact of Risk Management Practices on Profitability of Islamic Banks in Pakistan. (November 27, 2014) Pakistan Business Review. Available at SSRN https//ssrn.com abstract=2531239

In-Text Citation: (Ewool & Quartey, 2021)
To Cite this Article: Ewool, L. M., & Quartey, J. A. (2021). Evaluation of the Effect of Risk Management Practices on the Performance of Microfinance Institutions. International Journal of Academic Research in Accounting Finance and Management Sciences, 11(1), 211-240.

Copyright: © 2021 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode