Organizational and legal institutions, and the performance of microfinance institutions as hybrid entities

Purpose Microfinance institutions (MFIs) play an important role in economic development, with the dual objectives of social outreach and financial self-sufficiency. The purpose of this study is to examine the influence of organizational structure and variations in legal systems on the MFI dual performance goals. Design/methodology/approach Using a sample that includes 1,518 MFIs from 105 different countries over a period of 20 years, this study analyzes the data by applying a model that includes six categories of organizational structures and variations of legal systems, including both civil and common law, with accounting performance measures for the dependent variables. Findings The analyses provide robust results indicating that MFIs structured as non-governmental organizations (NGOs) have better social outreach than all other types of MFIs and exhibit better financial performance than MFIs registered as commercial banks or credit unions. Legal systems also played a role in MFI effectiveness. Research limitations/implications Given the increasing importance of MFIs on economic development globally, this study has relevance on how the impact of MFI structural characteristics and macro-level influences on their dual performance criteria can be translated into management approaches and governance policies that can increase the effectiveness of these dual (i.e. social and financial) goals. Originality/value This study is more comprehensive than prior research in addressing the influence of organizational structures of MFIs and legal systems on MFI dual mission, namely, its financial performance and social outreach, thereby increasing our understanding of policy implications in sustaining the MFI’s developmental role.

Vedantic applications of augmented reality for strategic social marketing campaigns in India

Purpose Social outreach campaigns such as mainstream commercial marketing campaigns are drawn to digital communication practices for increased visibility, speed and recall. This paper aims to highlight the usefulness and application of augmented reality (AR) technologies and proposes a change-driven usage of the AR environments for social marketing. Design/methodology/approach Paradigmatic structural analysis is used to extract the underlying schematic forms. A multimodal analytic approach is used to propose the conceptual framework. Findings AR is defined vis-à-vis conceptualizations of reality and hyper-reality from the Vedantic philosophical texts and treatises. The study examines and demonstrates an earlier version of AR expression in ancient times in the use of spatio-temporal constructs and their degrees of modality. It derives a conceptual schema based on AR resonant applications in narratives from the Vedantic literature. Based on these, the study highlights the persuasive appeal and co-creative potential of these illustrative examples to recommend marketing communication strategies for social outreach campaigns. Research limitations/implications The analysis recognizes a conceptual bridge between human extra-sensory/transcendental ability and contemporary technology. This study identifies five propositional structures (PS). It opens up the field of social marketing research to alternative methodologies such as multimodal analysis. Practical implications While most of contemporary AR usage is in commercial marketing, this study has derived specific guiding principles/propositional structures. These can be applied to create specific virtual environments that can simulate and demonstrate desirable societal outcomes and behaviours. As newer technologies permit further and more futuristic design interventions, developers could experiment with transitional states to impact behaviours, with implications for experimental layering of information. Originality/value This study responds to a call for innovative design interventions in the field of social marketing. Its originality lies in its use of the Vedantic framework which has not been explored in this direction elsewhere.