Purpose

The purpose of this study is to examine how banking regulation and supervision affect the performance of microfinance institutions (MFIs). It proposes performance of the MFIs from the aspect of social and financial efficiency because the MFIs nowadays not only view to sustain the social role of poverty eradication but in the same time they must strive the financial sustainability to maintain the operation in long run. This study also includes the macroeconomic condition and firm level variables to control for social and financial efficiency of the MFIs.

Design/methodology/approach

The data consists 168 MFIs from five countries in Southeast Asia from year 2011 to 2017. First stage of analysis is to identify level of social and financial efficiency by using data envelopment analysis approach. Second stage is to examine impact of bank regulation and supervision to the social and financial efficiency by applying panel regression analysis and generalized method of moments for robust estimation methods.

Findings

The finding shows the MFIs own lower social efficiency and higher score in financial efficiency. This indicates in pursuing financial sustainability, the MFIs in Southeast Asia countries have lost sight of their original mission of poverty reduction. Furthermore, the result also presents a significant impact of bank regulation and supervision to the social and financial efficiency of the MFIs. However, the results appear in different direction when more negative effect is associated with social efficiency. This specifies that bank regulation and supervision are not appropriate to accommodate the social needs, thus hampering the effort of poverty reduction by the MFIs.

Research limitations/implications

The present study only concentrates on the impact bank regulation and supervision to the performance of the MFIs. As the operation of the MFIs currently has been largely exposed in banking operation, it is suggested that future studies to look for other special issues such as country governance that might influence specifically in social and financial aspect of the MFIs.

Practical implications

The empirical findings from this study could be useful and may have significant implications for the regulators. The regulators or policymakers could establish the new regulation framework that fulfil the dual needs (social and financial) of the MFIs. Furthermore, the empirical findings also could serve as guidance to regulators and decision-makers in designing new policies for a sustainable and competitive sector of the MFIs. Although the MFIs recently brings a similar role as commercial banks, they need to retain the social aspects as that is the original mission of the MFIs

Originality/value

The present study proves that the bank regulation and supervision have brought a significant influence to the performance of the MFIs in ASEAN 5 countries.

中文翻译：

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银行监管是否会阻碍小额信贷机构消除贫困的效率？来自东盟五国的证据

目的

本研究的目的是研究银行监管如何影响小额信贷机构 (MFI) 的绩效。它从社会和财务效率的角度提出了小额信贷机构的绩效，因为现在的小额信贷机构不仅着眼于维持消除贫困的社会作用，而且还必须努力实现财务可持续性以维持长期运作。本研究还包括宏观经济条件和企业层面的变量，以控制小额信贷机构的社会和金融效率。

设计/方法/方法

数据包括 2011 年至 2017 年东南亚五个国家的 168 个小额信贷机构。分析的第一阶段是使用数据包络分析方法确定社会和金融效率水平。第二阶段是通过应用面板回归分析和广义矩法来检验银行监管对社会和金融效率的影响，以获得稳健的估计方法。

发现

研究结果表明，小额信贷机构的社会效率较低，财务效率得分较高。这表明东南亚国家的小额信贷机构在追求金融可持续性的过程中，已经忘记了其最初的减贫使命。此外，结果还表明银行监管和监督对小额信贷机构的社会和金融效率有显着影响。然而，当更多的负面影响与社会效率相关时，结果会出现不同的方向。这说明银行监管不适应社会需求，阻碍了小额信贷机构的扶贫工作。

研究限制/影响

本研究仅关注银行监管对小额信贷机构绩效的影响。由于小额信贷机构的运作目前主要暴露在银行经营中，建议未来研究寻找其他特殊问题，例如可能对小额信贷机构的社会和金融方面产生具体影响的国家治理。

实际影响

这项研究的实证结果可能有用，并且可能对监管机构产生重大影响。监管者或政策制定者可以建立满足小额信贷机构双重需求（社会和金融）的新监管框架。此外，实证结果还可以指导监管者和决策者为小额信贷机构的可持续和有竞争力的部门设计新政策。虽然最近小额信贷机构扮演了与商业银行类似的角色，但它们需要保留社会方面，因为这是小额信贷机构的初衷

原创性/价值

本研究证明，银行监管对东盟5国小额信贷机构的绩效产生了显着影响。