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Small firms in developing countries continue to experience difficulties in accessing finance from formal financial institutions. This paper argues that regulating microfinance operations and activities is likely to strengthen microfinance institutions’ (MFIs) financial sustainability. This in turn could provide an important source of finance to small firms. Using the case of the microfinance industry in Tanzania, the paper aims at moving the microfinance regulation debate forward by generating a number of relevant inputs towards the formulation of a regulatory framework. This contribution probably comes at an opportune moment when the Tanzanian government is in the process of formulating a framework to regulate and supervise microfinance institutions.

This study aims to seek to fill a gap in regulatory impact assessment in developing countries by presenting an analysis of how formal regulation impact on the efficiency and productivity of financial non-governmental organisations (FNGOs) in Ghana. Much has been written about the formal financial sector, but very little is known about the lower end of microfinance and the impact of formal prudential regulation on FNGOs providing microfinance services. The Bank of Ghana (BOG), nevertheless, in the year 2011, extended formal prudential regulation to FNGOs without any empirical basis. This study uses regulatory theories and empirical evidence to aid in the evaluation of whether formal prudential regulation is appropriate for FNGOs operating within the microfinance sector.

Empirical evidence derived from FNGOs, regulatory agents, consumers and financial lawyers within the Greater Accra and Ashanti Regions of Ghana served as the basis of the analysis in this study. Descriptive statistics, frequency counts and percentage scores, were used to analyse the data collected.

The existing structures of FNGOs in Ghana are unsuitable for formal prudential regulation. The BOG does not have adequate staffing and funding to supervise and monitor the microfinance activities of FNGOs. Formal prudential regulation could impede growth and efficient delivery of microfinance services.

The BOG is the only regulatory agency responsible for regulating the financial market in Ghana, thus access to officers with knowledge in the regulatory regime was very limited.

The study revealed in depth information about FNGOs, microfinance and the impact of formal prudential regulation on FNGOs.

The study is the first to use empirical studies and theories of regulation to assess the impact of extending formal prudential regulation to FNGOs in Ghana. Data from the regulator, the regulated and consumers, the key players in any regulatory process, served as the basis of the analysis in the study resulting in the unravelling of in-depth information on the regulation of FNGOs.

The use of niching genetic algorithms can provide a method of a more widespread search of the design space for a device than more conventional methods. It provides, in effect, a breadth first rather than a depth first search. Thus several alternative designs may be evaluated in parallel.

The purpose of this paper is to investigate the effectiveness of mitigation measures adopted in a scheme of EIA follow-up by examining their performance in reducing geo-environmental impacts in earthwork activities during the Rodoanel southern section construction in São Paulo, Brazil. This environment is fragile in terms of affected watersheds because the highway crosses two important reservoirs that supply most of the metropolitan water demand. Therefore, this research also aims at promoting water quality control.

This study combines complementary sources as evidences in the literature and field checks, tests and monitoring. The methodology was supported by criteria for evaluating the effectiveness of mitigation measures in the case study approach.

The EIA follow-up activities contributed to the maintenance of environmental conditions in the majority of the control points at the end of the construction phase. Water quality parameters were not statistically different before and during the construction of the highway. The choice and arrangement of mitigation measures were successful in ensuring water quality control by avoiding siltation.

A robust scheme for designing and evaluating mitigation measures contributes to the improvement of their effectiveness and is pivotal to the success of the EIA follow-up.

This case study serves as an example for extending EIA follow-up practice in special to the improvement of the design and evaluation of mitigation measures in similar contexts.

Design and optimisation of many practical electromechanical devices involve intensive field simulation studies and repetitive usage of time‐consuming software such as finite elements (FEs), finite differences of boundary elements. This is a costly, but unavoidable process and thus a lot of research is currently directed towards finding ways by which the number of necessary function calls could be reduced. New algorithms are being proposed based either on stochastic or deterministic techniques where a compromise is achieved between accuracy and speed of computation. Four different approaches appear to be particularly promising and are summarised in this review paper. The first uses a deterministic algorithm, known as minimal function calls approach, introduces online learning and dynamic weighting. The second technique introduced as ES/DE/MQ – as it combines evolution strategy, differential evolution and multiquadrics interpolation – offers all the advantages of a stochastic method, but with much reduced number of function calls. The third recent method uses neuro‐fuzzy modelling and leads to even further economy of computation, although with slightly reduced accuracy of computation. Finally, a combined FE/neural network approach offers a novel approach to optimisation if a conventional magnetic circuit model could also be used.

When dealing with problems entailing time consuming finite element solutions alternative methods are sought which can reduce the number of function calls whilst preserving solution accuracy. Two different strategies for practical electromagnetic design and optimisation are presented and compared. The main features and performance of each are described and evaluated on an analytical and a physical problem.

The purpose of this paper is to review different microfinance products and services that can be offered to reduce the financial vulnerabilities of communities at risk. Following a detail literature review, the effectiveness of different forms of microfinance services in creating resilience in the affected communities was analysed and whether they can be applied to mitigate the risk of future disasters was assessed. In addition, the study was conducted to assess whether microcredit can help reduce direct risk exposure of the poor through income smoothing.

This study is based on a review of existing theories.

The notion that most vulnerable communities are financially weak is evident from studies. This study finds that microcredit can help reduce direct risk exposure of poor through income smoothing, while saving can help them recover from the losses of disasters. Our review also suggests that there is no specific model of microfinance services which can have a holistic impact on the financial capacity-building, particularly during the rehabilitation process.

There are different categories of microfinance products with distinct characteristics and associated benefits to the communities. Some of the major microfinance products as identified in this study are, saving products, credit products and insurance products. These products have multidimensional benefits, as there are many approaches adopted by microfinance institutions (MFIs) and clients regarding the use of these products. However this study focuses on the use of these products towards resilience development in the community. Other applications of these products still need to be explored.

There is a need for a comprehensive financial tool that can be effectively applied to expedite the process of rehabilitation and reduce the financial impact of disasters on the community, particularly the poor. Major issues in the context of disasters faced by MFIs to design their products in the affected areas are also highlighted in the study.

The study throws lights on different microfinancial tools such as microloans, microcredits and cash for work, etc. offered by banks and other organizations and highlights their role in the rehabilitation and reconstruction of those affected by disasters in different parts of the world.

This paper contributes to the discourse of microfinance and its social applications in developing countries. It provides original role of microfinance as a tool for creating community resilience to the impacts of disasters.

Purpose of paper – Rural Banks (RBs) are unit banks owned by members of the rural community through the purchase of shares and are licensed to provide financial intermediation in rural areas of Ghana. This paper reports on the external and internal mechanisms through which corporate governance is maintained in these banks.

Design/methodology/approach – The findings reported in the paper are based on evidence obtained from a review of relevant documents and interviews with the managers of selected RBs.

Findings – The corporate governance system in the RBs is mainly a rational western model recommended by the World Bank and implemented by the Central bank of Ghana. Under this model corporate governance is expected to be maintained externally through regulatory agencies (the Central Bank of Ghana and the Association of Rural Banks) and internally through the respective Boards of Directors. However, we observe that because of the locations and ownerships of these banks, board appointments and decisions are often embedded in local political and social relations. This affects the independence of the boards and impacts on their role in maintaining corporate governance.

Research limitations/implications – We argue that any attempt to design corporate governance systems in these banks without taking these social and political factors into consideration is likely to lead to failure. This is particularly important given that the World Bank and other international donors are continuously proposing rational western models of governance to institutions in the developing world, such as the RBs. Given that these organizations operate under different sets of environmental conditions, there is likely to be differences between the actual and the idealized corporate governance systems.

Originality/value of paper – The study is important because of the role the rural banks play in the socio-economic development of Ghana. Several other developing countries have established similar institutions to support the development of the informal sector through the provision of microcredit. The research will contribute to the design of appropriate corporate governance systems so as to improve the overall contributions of these institutions.

The purpose of this study was to understand the usefulness of financial institution class ties in small commercial poultry farms’ (SCPFs’) survival in Ghana.

The study uses data from a network survey with associated attribute data on poultry small- and medium-sized enterprises. The data were collected in two waves between January 2014 and March 2015. Survival is estimated using a lagged probit model.

It was found that the survival rate of SCPFs is influenced by ties to universal banks and cooperative credit unions that have a positive effect while those with ties to savings and loans companies have a reduced survival probability.

The findings of the study make a significant contribution to the agricultural enterprise financing literature showing the relevance of the different financial institution types in the continued survival of agricultural SCPFs.

A number of studies across a variety of disciplines call for further research investigating the factors that influence performance measurement (PM) systems and practices. Despite management control systems (MCS) comprising performance measurement as one of its elements, the influence of MCS on PM systems and practices has received little attention. This study attempts to address this need by examining the associations between MCS and PM practices through a survey of large Australian organisations, with MCS characterised in terms of Simons’ (1991; 1995) levers of control (LOC) framework and the objects-of-control (OOC) framework (Emmanuel et al., 1990; Merchant and Van der Stede, 2007). We find that MCS approaches and the specific LOC and OOC that these comprise influence both the purpose for which PM systems are used and the selection of KPIs, but has little influence on the use of benchmarking. Also, diagnostic MCS are associated with the design of causally structured PM systems while results-focused MCS are linked with an absence of structure. Adding to the findings are evidence that interactive LOC are not associated with strategic learning, validation and the use of causality in PM systems.