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Explaining Failures of Microfinance Institutions

Dorfleitner, Gregor ; Leidl, Michaela ; Priberny, Christopher


We empirically study the determinants of failures of microfinance institutions based on the CAMELS rating components and microfinance-specific measures by applying probit regression techniques. Our findings confirm the capital adequacy (C), the asset quality (A), the management capability (M), the earnings (E), and the sensitivity to market risk (S) as explaining factors of failures of ...


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