2010 XXXIV 1

Le niveau d’nnovation des entreprises et ses conséquences sur la performance financière: cas des entreprises Tunisiennes

Jamel Chouaibi, Habib Affes and Younès Boujelbene
Savings and Development Vol. 34(2010), No. 1, pp. 7-33

This study focuses on the innovation activities as determinants of the financial value of the firm. This approach breaks with the binary approach to measure the degree of innovation and replaces it by an aggregative index. This study reports on the [...]

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Paying dividends by Kenyan companies

John M. Parkinson and Nelson Mania Waweru
Savings and Development Vol. 34(2010), No. 1, pp. 35-51

The Nairobi Stock Exchange (NSE) has, as of 2007, 50 companies listed. In general, the NSE does not seem to be a major factor in the economy of the country. In this study we examined the factors that might have motivated the managers of NSE listed [...]

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The IDDIR: an informal insurance arrangement in Ethiopia

Dejene Aredo
Savings and Development Vol. 34(2010), No. 1, pp. 53-72

In the absence of formal insurance services, smallholder farmers are devoid of effective ways of managing numerous risks they encounter in their daily lives. One response mechanisms common among rural households is reliance on network-based [...]

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Combined microfinance: a conceptual approach revealing relevant knowledge gaps

Koen Rossel-Cambier
Savings and Development Vol. 34(2010), No. 1, pp. 73-95

Globally, many microfinance schemes (MFIs) are gradually shifting their focus from loans-only to multiple financial products, including insurance and savings. This phenomenon, which could be described as combined microfinance (CMF), has received [...]

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Performance of microfinance: the role of subsidies

Ahmad Nawaz
Savings and Development Vol. 34(2010), No. 1, pp. 97-138

Microfinance institutions (MFIs) strive for financial sustainability, but also for the empowerment of the poor. The social nature of MFIs is mainly financed by subsidies. This paper measures the sustainability of microfinance, employing Yaron’s [...]

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