Effect of Capital Structure on Financial and Social Performance of Indian MFIs: A Bibliometric Analysis and Systematic Literature Review

Authors

  • Ms. Saloni Dhiman University Business School, Panjab University, Chandigarh https://orcid.org/0009-0000-8223-6479
  • Prof. Gunmala Suri University Business School, Panjab University, Chandigarh
  • Dr. Rupinder Bir Kaur University Business School, Panjab University, Chandigarh

DOI:

https://doi.org/10.31305/rrijm.2024.v09.n03.002

Keywords:

Capital Structure, Financial, Social Performance, MFIs, Bibliometric Analysis

Abstract

Microfinance Institutions (MFIs) play a crucial role in financial inclusion and social empowerment, with funding sources significantly influencing their overall performance. Despite existing research efforts on the relationship between capital structure and the performance of MFIs, a notable gap remains in the literature, particularly concerning Indian MFIs. This study aims to address this void by examining the influence of capital structure on the financial and social performance of Indian MFIs. The study aims to assess the effect of capital structure on financial and social performance through a systematic literature review of 20 articles using Scopus and Google Scholar. Network analysis and systematic literature review methodologies, employing tools such as Bibliometrix and VOSviewer, were used to scrutinize the selected records. Findings reveal inconclusive outcomes on the effect of capital structure on MFIs' performance, specifically in the heterogeneous context of India, highlighting that while Indian MFIs utilize debt financing to expand services, it may elevate credit risk and non-performing assets, negatively impacting overall performance. The empirical results can guide MFIs in optimizing their capital structures for financial self-sufficiency, enabling better services for underserved populations. The study underscores the need for more empirical analyses, incorporating additional variables and a broader range of MFIs, to enhance reliability and provide actionable recommendations for financing structures and diversified funding sources.

Author Biographies

Ms. Saloni Dhiman, University Business School, Panjab University, Chandigarh

Saloni Dhiman received her Bachelor of Commerce from Andhra University, Vishakhapatnam, Andhra Pradesh, India and Master of Commerce from Chandigarh University, Mohali, Punjab, India. She is currently pursuing her PhD in Accounting & Finance as a Research Scholar at University Business School, Panjab University, Chandigarh, India. She is presently working on many more papers and has presented in International Conferences. Her area of specialization is Microfinance.

Prof. Gunmala Suri, University Business School, Panjab University, Chandigarh

Prof. Gunmala Suri is currently a Professor at University Business School, Panjab University, Chandigarh, India. She obtained her M.Sc in Statistics/Operational Research from Gorakhpur University, India in 1984. She received her PhD in Applied Business Economics from Agra University, India in 1993 and Post Graduate Diploma in Computer Application from Kurukshetra University, India in 1998. She is a recipient of Dewang Mehta National Education Award: Women in Education Leadership in December 2017. She is the Director of Indian Society for Training & Development (ISTD) – Chandigarh Chapter. She has a teaching experience of more than 20 years in the areas of Operations Management, Information Technology and Human Resource. Her areas of interests are Business Process Re-engineering, Total Quality Management, Knowledge Management for Organizational Effectiveness and E-Learning. Her areas of research/expertise include Production Management, Knowledge Management, Business Statistics, IT, Ethics. She has more than 85 (National + International) Research Papers.

Dr. Rupinder Bir Kaur, University Business School, Panjab University, Chandigarh

Dr. Rupinder Bir Kaur is currently an Associate Professor at University Business School, Panjab University, Chandigarh, India. She obtained her M.Com from University Business School, Panjab University, Chandigarh in 1997. She received her PhD in Human Resource Management from University Business School, Panjab University, Chandigarh in 2005. She was nominated as the Government of India delegate to attend Youth Leadership programme at Fukushima Prefecture, Japan in 2008. She has a teaching experience of more than 20 years in the area of Human Resource Management. Her areas of specialization include Human Resource Management, Organizational Behaviour, Entrepreneurship Development, Stress Management and Emotional Intelligence. She has more than 20 publications in different peer reviewed international journals and has presented in more than 20 National and International conferences/seminars.

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Published

15-03-2024

How to Cite

Dhiman, S., Suri, G., & Kaur, R. B. (2024). Effect of Capital Structure on Financial and Social Performance of Indian MFIs: A Bibliometric Analysis and Systematic Literature Review. RESEARCH REVIEW International Journal of Multidisciplinary, 9(3), 14–28. https://doi.org/10.31305/rrijm.2024.v09.n03.002

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Vol. 9 No. 3 (2024): RESEARCH REVIEW International Journal of Multidisciplinary

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