Ownership Structure and Performance of Microfinance Institutions

Despite the numerous works devoted to the relationship between ownership structure and performance, a consensus on the nature of this relationship has not yet been reached. Our study, which at first glance may seem to follow a well-trodden path, insofar as it deals with a long-discussed topic, has the particularity of applying to unlisted companies, which are more complex in terms of the quality of the information to be processed.In the case of CEMAC microfinance institutions, it allows us to assess the nature of the relationship between ownership structure and performance on the one hand, and the relationship between managerial ownership and performance on the other.