Corporate Governance in Microfinance Organizations: Review and Agenda

Abstract

This study provides a comprehensive review of scholarly research on corporate governance in microfinance organizations during the last 20 years and elaborates an agenda for future research. The article used a systematic literature review process for the different online databases including EBSCOHost, Emerald, JSTOR, SAGE Knowledge, ScienceDirect, Scopus, SpringerLink, University Library WorldCat, Wiley and Web of Science database over the period 2000–2019. This research has identified three major factors which are the most important for the microfinance governance studies, these are, (i) board of directors who set strategic directions for the organization, (ii) toplevel management who implements decisions and manages risks, and (iii) external governance who works to ensure compliance with standards, policies, and procedures. The paper contributes through synthesizing and pinpointing standing as well as evolving research streams.