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讲座:Crowdfunding for Microfinance Institutions: The New ...

来源:上海交通大学安泰经济与管理学院 | 2019-01-19 | 发布:经管之家

管理信息系统系学术讲座

题目:Crowdfunding for Microfinance Institutions: The New Hope?

嘉宾:骆雪琛博士生香港城市大学

主持人 :鲍杨讲师 安泰经济与管理学院 管理信息系统系

时间:2019年1月23日(周三) 10:00-11:30

地点:上海交通大学 徐汇校区新上院S204室

讲座摘要:

Crowdfunding provides an innovative way for individuals, entrepreneurs, and small businesses to finance. Microfinance institutions (MFIs) grant small and uncollateralized loans (microloans) to low-income households to finance self-development activities, serving clients that are often underserved by traditional finance institutions. MFIs recently have been able to raise funds from crowdfunding platforms on a project basis. We investigate the impacts of crowdfunding on the performance of MFIs. Using data from Kiva.org (the largest prosocial crowdfunding platform) and MIX (a performance database of MFIs), we examine the changes in MFIs’ performance after they use crowdfunding. The results show that MFIs’ financial sustainability improves and interest rate decreases. Moreover, we explore the underlying mechanisms that enable such changes. We argue that crowdfunding: 1) provides low-cost capital, which might lead to losing focus on efficiency or decrease capital cost and allow organizations to pursue their goals; and 2) enables information disclosure and monitoring on MFIs and thus motivates MFIs to improve efficiency. The empirical evidence shows that the enhanced sustainability and lower interest rate are mainly the result of efficiency improvements, suggesting the positive impact of information disclosure and monitoring. We discuss the theoretical and practical implications of the study for MFIs, crowdfunding, and platforms in general.

嘉宾简介:

Xuechen Luo is a doctoral candidate in the Department of Information Systems at the City University of Hong Kong. Her research interest lies in the economics of information systems. She is interested in understanding how information technology disrupts financial systems. Her current research primarily focuses on crowdfunding. Her research has been presented or published in academic conferences such as PACIS, CSWIM, AMCIS, WeB, and SCECR, and one of her work is currently under review (2nd round) at MIS Quarterly. The average teaching evaluation for her course “Business Intelligence and Analytics” is 6.3 out of 7. She has received both PhD Student Research Excellence Award and Teaching Excellent Award from College of Business.

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