THE EFFECT OF CAPITAL STRUCTURE AND LEGAL STATUS ON FINANCIAL SUSTAINABILITY OF MFIS IN DEVELOPING COUNTRIES
Abstract
Due to limitation of previous researches on sustainability of MFIs in general, and relationship between capital structure and MFIs’ sustainability in developing countries after financial crisis, this study has been written to fill this gap by examining the effect of factors such as the effect of capitalstructure and legal status on MFIs’ sustainability. A sample of 434 MFIs operating in developing countries from 2010 to 2014 was used. While multiple regression techniques was used to test relationship between dependent variables and predictors, one-way analysis of variance was usedto find differences in mean value of sustainability of MFIs having different legal status. The resultsrevealed that sustainability of MFIs in developing countries was significantly and negatively affectedby capital structure. Besides, the effect of legal status on MFIs’ sustainability is very small.
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Review
For citations:
Ngoc N.B. THE EFFECT OF CAPITAL STRUCTURE AND LEGAL STATUS ON FINANCIAL SUSTAINABILITY OF MFIS IN DEVELOPING COUNTRIES. Review of Business and Economics Studies. 2016;4(2):53-64. (In Russ.)
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