The Microfinance Contagion Scenario
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 microfinance, just as in corporate finance, one of the key ratios driving investors is the debt-to-equity ratio.
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