Valentina Hartarska
Governance and performance of microfinance institutions in Central and Eastern Europe and the Newly Independent States
Auburn University
paper presents first evidence impact governance outreach sustainability microfinance institutions mfis central eastern europe newly independent states results indicate performancebased compensation managers associated betterperforming mfis lower wages suggested missiondriven organizations worsen outreach managers experience improves performance results also identify tradeoffs mfi outreach sustainability depending stakeholders representation board provide strong support independent boards limited employee participation study region external governance mechanisms seemed play limited role