Abstract
This article investigates how the financial performance of a microfinance organization (MFO) affects its focus on women borrowers. Building on the institutional logics perspective and cognate research on comparative institutional analysis, I examine how heterogeneous logic configurations in terms of neoliberalism and patriarchy variably moderate the effects of financial performance on MFOs’ lending focus on women across nations. Using data on 1569 microfinance organizations in 101 developing countries between 1995 and 2007, I find that more financially self- sufficient MFOs tend to have a reduced focus on women borrowers. This effect is further amplified in highly neoliberal and patriarchal countries, where women clients are more costly and less financially appealing to serve. Implications of these findings for the microfinance sector, the institutional shaping of the financial-social performance debate, and the integration of the institutional logics perspective and comparative institutional analysis are discussed.
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