Impact of COVID-19 pandemic on diversification: Evidence from microfinance

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE Finance Research Letters Pub Date : 2025-04-01 Epub Date: 2025-02-11 DOI:10.1016/j.frl.2025.106905

Ki C Han , Sukhun Lee , David Y Suk , Hyun Mo Sung

引用次数: 0

Abstract

In previous global financial crises, microfinance institutions (MFIs) provided a significant diversification benefit to global portfolios. However, since the COVID-19 pandemic significantly impaired the microfinance industry's traditional modes of operation and threatened the survival of microentrepreneurs’ businesses, the diversification benefit was not stable but rather fluctuated during the crisis period. One year before the pandemic, MFIs provided significant diversification benefit; however, during the first year of the pandemic, this benefit disappeared completely and continued to be nonexistent during the second year of the pandemic. During the last year of the pandemic, the diversification benefit became statistically significant again.

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COVID-19大流行对多元化的影响：来自小额信贷的证据

在以往的全球金融危机中，小额信贷机构（mfi）为全球投资组合提供了显著的多元化利益。然而，由于新冠肺炎疫情严重损害了小额信贷行业的传统运营模式，并威胁到小额信贷企业的生存，因此在危机时期，小额信贷行业的多元化效益并不稳定，而是呈波动趋势。大流行前一年，小额信贷机构提供了重大的多样化利益；然而，在大流行的第一年，这种好处完全消失，在大流行的第二年继续不存在。在大流行的最后一年，多样化的好处在统计上再次变得显著。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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