Having discussed the concepts of microfinance, microfinance institutions (MFIs), and the importance of strategic management to MFIs, the following section reviews past research on MFIs to identify and present the research issues address in this study. 2.4 Previous Studies on Microfinance Institutions As organizations, microfinance institutions (MFIs) play a significant role in the financial industry in the Nigerian economy. Although these firms are considered important to the Nigerian economy, the literature reveals that there is still not much information about the manner in which they are being managed. The lack of information on the management of MFIs has resulted from the limited research that investigates MFIs, particularly from the strategic management perspective. Although the number of studies that focused on MFIs seems to increase, a review of past studies suggests several limitations. The limitations identified in prior research include; too much focus on investigating the effectiveness of microfinance schemes, adoption of case study method, the emphasis on observing and reporting issues such as corporate governance, intellectual capital, information, communication and technology (ICT) adoption, capital structure, and impact of the financial schemes on poverty reduction (Abdulai, 2017; Abraham & Balogun, 2012; Amoo & Kolawole, 2015; Augustine et al., 2016; Chinasa, 2015; Ene & Inemesit, 2015; Kamukama et al., 2010; Paul & Emesuanwu
Catherine Ebelechukwu, 2015; Tadele & Rao, 2014a; Umar et al., 2012).
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- Summer '17
- Management, Strategic Management and Microfinance Institutions