In the era of competitiveness, clients or borrowers remain an important asset for financial institutions, as they are the ultimate source of revenue. Although the departure of clients from one microfinance institution (MFI) to another is a common phenomenon, the manner in which organizational characteristics affect turnover is largely unknown in the context of the microfinance industry. Hence, by utilizing recent (2010–18) data on 235 MFIs from the global microfinance industry, this study investigates the factors affecting the borrower turnover rates (BTR) of MFIs by employing conventional panel regression techniques. To overcome endogeneity and ensure robust and dynamic results, the generalized method of moments (GMM) has also been used in this study. The findings reveal that the efficiency-wage and financial self-sufficiency of MFIs reduce BTR, while staff turnover rate, write-off ratio and average loan size increase BTR. Our results remain robust even after controlling for several market and macro-economic factors. The findings could be utilized to generate several policy implications to reduce borrowers’ turnover.

中文翻译：

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影响小额信贷机构借款人营业额的因素：小组证据

在竞争时代，客户或借款人仍然是金融机构的重要资产，因为他们是最终的收入来源。尽管客户从一家小额信贷机构 (MFI) 转移到另一家是一种普遍现象，但在小额信贷行业的背景下，组织特征影响营业额的方式在很大程度上是未知的。因此，通过利用来自全球小额信贷行业的 235 家小额信贷机构的近期（2010-18 年）数据，本研究采用传统的面板回归技术调查了影响小额信贷机构借款人周转率 (BTR) 的因素。为了克服内生性并确保稳健和动态的结果，本研究还使用了广义矩量法（GMM）。研究结果表明，小额信贷机构的效率工资和财务自给自足降低了 BTR，而员工流动率、核销率和平均贷款规模增加了 BTR。即使在控制了几个市场和宏观经济因素之后，我们的结果仍然很稳健。研究结果可用于产生若干政策影响，以减少借款人的营业额。