Abstract
In this paper, I develop a configurational approach to the financial-social performance debate and apply it to a study of the global microfinance organizations (MFOs) in 94 countries between 1995 and 2007. Based on their relative performance on both financial and social dimensions, MFOs are categorized into four ideal types: self-sustainable, mission-drifting, subsidized, and failing. According to the configurational approach, the specific ideal type an MFO falls into depends on both national institutional configurations and the MFO’s organizational form. Results provide support for the configurational approach and have significant theoretical and policy implications.
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