Associate professor Gabriela Chmelíková has received an important scientific award. On 17 June 2023, she was awarded the EMN Research Award 2023 in the field of microfinance.

The award was given by the European Microfinance Network and presented at a ceremony marking the 20th anniversary of the organisation.

And what was the research award project about?

The main contribution of the award-winning research was the empirical findings on the factors influencing the financial and social performance of microfinance institutions in Europe as an important tool in the fight against financial exclusion. The analysis focused on the role of social capital in the lender-borrower relationship and produced interesting findings on the potential for its use in lending relationships. It showed, among other things, that clients living in communities with close social ties, such as rural areas, exhibit better payment morality than clients living in more anonymous environments. This fact has been linked in theory to the existence of social capital, the quality of which depends on the intensity of social ties. Thus, the possibility of substituting social capital for physical collateral has a significant impact on the quality of the portfolios of microfinance institutions with a higher proportion of clients with stronger social ties. Such a finding is crucial for policy makers aiming at reducing social inequalities and regional disparities, as it allows for use especially in peripheral regions.

Research co-authors:
Annette Krauss (University of Zurich)
Ondřej Dvouletý (VŠE)

Congratulations!