Abstract
The objective of this article is to analyse the interactions of governance mechanisms in order to identify the combinations that can improve or deteriorate the performance of microfinance institutions. To achieve this objective, a multiple regression was applied on the data collected from a sample of sixty-two Cameroonian microfinance institutions. The results show that private microfinance institutions must have large boards of directors, this would allow them to focus on group loans and the rate of financial intermediation on the one hand and, on the other hand, to benefit from the multiple skills of administrators in order to improve their performance. In addition, the results show that in the presence of female directors, group lending and the rate of financial intermediation significantly improve the IMF’s social performance. On the other hand, in the presence of women on the board, the rate of financial intermediation deteriorates financial performance when measured by the return on assets.
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