Debt to Equity Ratio Development Operations Short-term 
Harvard Business Review
JUNE 10, 2011
Losses in AP will overwhelm many institutions' equity cushion. The average debt-to-equity ratio of the 10 largest MFIs in India is 7.06 , indicating an average 12% equity cushion. In a recent paper, Jonathan Morduch and Jonathan Conning explain the role of debt and equity financing in the microfinance industry.
Harvard Business Review
OCTOBER 20, 2011
The revolution ran on equity capital, which was in short supply. Anyone would have concluded that allocating capital according to expected return on equity would be optimal for growth. The lesson: Return on Equity, like peacock tail splendor, is a very poor guide for allocating resources. It fails for two reasons.
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