Publications

• Books
• Papers in Refereed Journals
• Chapters in Books
• Book Reviews
• Editorship
• Working papers

 

Book

•  2019 Hudon, M., Labie, M. & Szafarz, A., A Research Agenda for Financial Inclusion and Microfinance, Edward Elgar, Northampton, USA.

 

Papers in Refereed Journals

 

• Cieslik, K., Hudon, M., & Verwimp, P. (forthcoming), Unruly Entrepreneurs: Investigating Value Creation by Microfinance Clients in Rural Burundi, Oxford Development Studies.
  • The Working Paper

• 2020 Hideto Dato, M. , Hudon, M., and R. Mersland, Board Governance: Does Ownership Matter?, Annals of Public & Cooperative Economics, 91(1), 5-28.
  

• 2019 Bui, S., Costa, I., De Schutter, O., Dedeurwaerdere, T., Hudon, M. and M. Feyereisen,Systemic ethics and inclusive governance: two key prerequisites for sustainability transitions of agri-food systems, Agriculture and Human Values, 36(2), 277-288.
  • The Working Paper

•  2018 Hermes, C., and M. Hudon (Forthcoming), “Determinants of the Performance of Microfinance Institutions: A Systematic Review”, Journal of Economic Surveys.
  • The Working Paper

• 2018 Hudon, M., M. Labie and P. Reichert (Forthcoming), “What is a fair level of profit for social enterprise? Insights from microfinance”, Journal of Business Ethics.
  • The Working Paper

• 2018 Meyer, C. and M. Hudon (Forthcoming), “Money and the Commons: An Investigation of Complementary Currencies and Their Ethical Implications”, Journal of Business Ethics.
  • The Working Paper

• 2018 Meyer, C. and M. Hudon, “Alternative Organizations in Finance: Commoning in Complementary Currencies”, Organization, 24(5), 629-647.
  • The Working Paper

• 2017 Hudon, M. and B. Huybrechts, “From Distant Neighbours to Bedmates: Exploring the synergies between the Social Economy and Sustainable Development”, Annals of Public & Cooperative Economics, 88(2), 141-154.
  

• 2017 Dedeurwaerdere, T., De Schutter, O., Hudon, M., Mathijs, E., Annaert, B., Avermaete, T., Bleeckx, T., de Callataÿ, C., De Snijder, P., Fernández-Wulff, P., Joachain, H. and J.-L. Vivero, “The Governance Features of Social Enterprise and Social Network Activities of Collective Food Buying Groups”, Ecological Economics, 140, 123-135.

• 2017 D'Espallier B., Hudon, M., Szafarz, A., "Aid Volatility and Social Performance in Microfinance", Nonprofit and Voluntary Sector Quarterly, 46, 1, 116-140.
  • The Working Paper

• 2017 D'Espallier B., J. Goedecke, M. Hudon and R. Mersland, "From NGOs to banks: Does institutional transformation alter the business model of microfinance institutions?", World Development, 89, 19-33.
  • The Working Paper

• 2016 Hudon M. and C. Meyer,  "A Case Study of Microfinance and Community Development Banks in Brazil: Private or Common Goods?", Nonprofit and Voluntary Sector Quarterly, 45(4), 116-133. 
  
  • The Working Paper

• 2016 Forcella, D. and M. Hudon, "Green Microfinance in Europe", Journal of Business Ethics, 135, 3, pp 445–459.
  • The Working Paper

• 2016 Wulleman M. and M. Hudon, "Models of social entrepreneurship: empirical evidence from Mexico", Journal of Social Entrepreneurship, 7(2), pp. 162-188.
  • The Working Paper

• 2016 Lebovics M., N. Hermes and M. Hudon, "Are Financial and Social Efficiency Mutually Exclusive? A Case Study of Vietnamese Microfinance Institutions", Annals of Public & Cooperative Economics, 87, 1, pp. 55–77. 
  
  • The Working Paper

• 2016 Cozarenco A., Hudon, M. and A. Szafarz, "What Type of Microfinance Institutions Supply Savings Products?", Economics Letters, 140, pp. 57–59.
  
  • The Working Paper

• 2016 Kleynjans L. and M. Hudon, "A Study of Codes of Ethics for Mexican Microfinance Institutions", Journal of Business Ethics, 134, 3, pp 397-412.

• 2015 Basharat B., M. Hudon and A. Nawaz, "Does efficiency lead to lower prices? A new perspective from microfinance interest rates", Strategic Change: Briefings in Entrepreneurial Finance, 24, pp. 49–66.

• 2015 Michel A. and M. Hudon,"Community Currencies and Sustainable Development: A Systematic Review", Ecological Economics,116, pp. 160–171.
  
  • The Working Paper

• 2015 Allet M. and M. Hudon, "Green Microfinance: Characteristics of microfinance institutions involved in environmental management", Journal of Business Ethics.
  
  • The Working Paper

• 2014 Hudon M. and A. Périlleux, "What Explains Microfinance Distribution Surplus? A Stakeholder-oriented Approach", Quarterly Review of Economics and Finance, 54(2), 47-157.
  
  • The Working Paper

• 2013 Hudon M. and J. Sandberg, "The Ethical Crisis in Microfinance: Issues and Findings",  Business Ethics Quarterly, 23(4), 561-589.
• 2013 D'Espallier B., M. Hudon, and A. Szafarz, "Unsubsidized Microfinance Institutions", Economics Letters, 120, 2, pp. 174–176.
  • The Working Paper
• 2013 Hudon M. and A. Ashta, "Fairness and microcredit interest rates: From Rawlsian principles of justice to the distribution of the bargaining range", Business Ethics: A European Review, 22, 3, pp. 277–291.
  • The Working Paper
• 2013 Fouillet C., M. Hudon, B. Harris-White, and J. Copestake, "Microfinance studies: introduction and overview", Oxford Development Studies, pp. S1-S16.
• 2013 Dehem T. and M. Hudon, "Microfinance from the Clients' Perspective: An Empirical Enquiry into Transaction Costs in Urban and Rural India", Oxford Development Studies, pp. S117-S132.
  • The Working Paper
• 2012 Ashta A. and M. Hudon, "The Compartamos microfinance IPO: Mission conflicts in hybrid institutions with diverse shareholding", Strategic Change: Briefings in Entrepreneurial Finance, 21, 7-8, pp. 331-341.
  • The Working Paper
• 2012 Périlleux A., M. Hudon, and E. Bloy, "Surplus Distribution in Microfinance: Differences Among Cooperative, Non-profit and Shareholder Forms of Ownership", Nonprofit and Voluntary Sector Quarterly, 41, pp. 386-404.
  • The Working Paper
• 2011 Hudon M. and A. Périlleux, "Performance Management of Double Bottom Line Institutions: Evidences from Banco Compartamos's Productivity Distribution", Journal of Cost Management, pp. 14-23.
  • The Working Paper
• 2011 Assadi D. and M. Hudon, "La microfinance: de la charité aux affaires: Introduction du numéro spécial", Management & Avenir, 46, pp. 219-226.
• 2011 Bloy E., J. Ernult, M. Hudon, and A. Périlleux, "Surplus et responsabilité sociale en microfinance: Etude de cas d’institutions péruviennes", Management & Avenir, 46, pp. 244-260.
  • The Working Paper
• 2011 Hudon M. and D. Traça, "On the Efficiency Effects of Subsidies in Microfinance: An Empirical Inquiry", World Development, 39(6), pp. 966-973.
  • The Working Paper
• 2010 Hudon M., "Une institution de microfinance éthique?", Mondes en Développement, 150/3, pp. 83-96.
  • The Working Paper
• 2010 Hudon M., "Management of Microfinance Institutions: Do Subsidies Matter?", Journal of International Development, 22, 7, pp. 890-905.
  • The Working Paper
• 2009 Hudon M. and E. Niyongabo, "La politique des bailleurs en microfinance. Qu'en est-il pour les zones rurales ?", Cahiers du CEDIMES, 3(2), pp. 123-141.
• 2009 Hudon M., "Should Access to Credit be a Right?", Journal of Business Ethics, 84, pp. 17-28.
  • The Working Paper
• 2008 Hudon M. and T. Ouro-Koura, "Etude des facteurs contingents du taux de remboursement au sein d'une institution de microfinance : le cas du Togo", Annals of Public and Cooperative Economics, 79, 2 pp. 301-322.
  • The Working Paper
• 2008 Hudon M., "Norms and Values of the Various Microfinance Institutions", International Journal of Social Economics, 1-2, pp. 35-48.
  • The Working Paper
• 2007 Hudon M., "Fair Interest Rates When Lending to the Poor", Ethics and Economics, 5, 1, pp. 1-8.
• 2007 Hudon M. and H. D. Seibel, "Use of Microfinance in Post-conflict and Post-disaster Situations: Turning Victims into Shareholders", Savings and Development, 5, pp. 5-22.
  • The Working Paper
• 2006 Hudon M. and B. Lietaer, "Natural Savings: A New Microsavings Product for Inflationary Environments. How to Save Forests with Savings for and by the Poor?", Savings and Development, 4, pp. 357-381.
• 2006 Hudon M. and A. Vanroose, "Training in Microfinance: Is there a Role for Academic Institutions?", European Dialogue, 36, pp. 60-66.
• 2004 Hudon M., "New Challenges in Microfinance: The Case for Extending its Range of Financial Services", Belgian Banking Review, 6, pp. 333-338.
• 2004 Chapelle A. and M. Hudon, "Introduction to the Special Issue on Microfinance", Belgian Banking Review, 6, pp. 265-270.

 

Chapters in books

• 2011 Hudon M., "Ethics in Microfinance" in Armendariz B. and M. Labie (Eds.), The Handbook of Microfinance, Singapore: World Scientific Publishing, pp. 123-138.
• 2011 Hudon M. and B. Balkenhol, "Efficiency" in Armendariz B. and M. Labie (Eds.), The Handbook of Microfinance, Singapore: World Scientific Publishing, pp. 383-396.
• 2009 Hudon M., "Ethical Challenges in the Inclusion of the Poor in the Financial Sector" in Eisendrath E. and J.-P. van Bendegem (Eds.), It Takes Two to Do Science: The Puzzling Interactions Between Science and Society, Brussels: VUB Press, pp. 71-96.
• 2009 Hudon M., M. Labie, and A. Périlleux, "Microfinance pour l'agriculture des pays du Sud: Etats des lieux et tendances actuelles - introduction" in Morvant-Roux S. (Eds.), Rapport Exclusions et liens financiers 2008-2009, Paris: Economica, pp. 25-33.
• 2005 Attali J. and M. Hudon, "Microfinance and IT, an Important Partnership" in Weiler R. and A. Waheed Khan (Eds.), ICT for Capacity-Building: Critical Success Factors, Paris: UNESCO & Club of Rome, pp. 63-69.

Book Reviews

• 2010 Hudon M., "Portfolios of the Poor", by Collins D., J. Morduch, S. Rutherford, and O. Ruthven (Book review), Development and Change, 41, 1, pp. 184-185.
• 2008 Hudon M., "The Economics of Microfinance, Book Review", by Armendariz B. and J. Morduch (Book review), Journal of International Development, 20, 2, pp. 245-246.

Editorship

• 2013 Guest Editor of a special issue in Oxford Development Studies on microfinance and development studies (08/2013)
• 2011 Guest Editor of a special issue in Management & Avenir on microfinance (11/2011)
• 2007 Guest Editor of a special issue in Ethics and Economics on Ethics in Microfinance (09/2007)
• 2004 Guest Editor of a special issue in Belgian Banking Review on Microfinance (09/2004)

Working Papers

• 2013 D’Espallier B., M. Hudon and A. Szafarz, "Unsubsidized Microfinance Institutions"Working Papers CEB 13-012, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2013 Allet M. and M. Hudon,"Green Microfinance. Characteristics of microfinance institutions involved in environmental management"Working Papers CEB 13-005, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
  
• 2011 Hudon M. and A. Périlleux, "Performance Management of Double Bottom Line Institutions: Evidence from Banco Compatamo's Productivity Distribution" Working Papers CEB 11-056, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2011 Bloy E., J. Ernult, M. Hudon, and A. Périlleux, "Surplus et responsabilité sociale en microfinance : Etude de cas d’institutions péruviennes" Working Papers CEB 11-036, Centre Emile Bernheim, SBS-EM, Université libre de Bruxelles - ULB.
• 2011 Hudon M. and J. Sandberg, "Towards a Theory of Fair Interest Rates on Microcredit" Working Papers CEB 11-019, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2011 Armendariz B., B. D'Espallier, M. Hudon, and A. Szafarz, "Subsidy Uncertainty and Microfinance Mission Drift" Working Papers CEB 11-014, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2010 Hudon M. and A. Périlleux, "What Explains Microfinance Distribution Surplus? A Stakeholder-oriented Approach" Working Papers CEB 10-045, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2010 Périlleux A., E. Bloy, and M. Hudon, "Productivity Surplus Distribution in Microfinance: Does Ownership Matter?" Working Papers CEB 10-036, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2009 Ashta A. and M. Hudon, "To whom should we be fair? Ethical issues in Balancing Stakeholder Interests from Banco Compartamos Case Study" Working Papers CEB 09-036, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2008 Hudon M., "Norms and Values of the Various Microfinance Institutions" Working Papers CEB 08-006, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2007 Hudon M., "Use of donor funds in the financing of MFIs" Working Papers CEB 07-020, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2007 Hudon M., "Should Access to Credit be a Right ?" Working Papers CEB 07-008, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2007 Hudon M., "Social Justice with Credits to the Poor" Working Papers CEB 07-003, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2007 Hudon M. and H.D. Seibel, "Microfinance in Post-disaster and Post-conflict Situations: Turning Victims into Shareholders" Working Papers CEB 07-002, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2006 Hudon M. and D. Traça, "On the Efficiency Effects of Subsidies in Microfinance: an Empirical Inquiry" Working Papers CEB 06-020, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2006 Hudon M. and T. Ouro-Koura, "Etude des facteurs contingents du taux de remboursement au sein d’une institution de microfinance: le cas du Togo" Working Papers CEB 06-016, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2006 Hudon M., "Fair Interest Rates when Lending to the Poor: Are Fair Prices Derived from Basic Principles of Justice?" Working Papers CEB 06-015, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2006 Hudon M. and B. Lietaer, "“Natural Savings”: A New Microsavings Product for Inflationary Environments. How to Save Forests with Savings for and by the Poor?" Working Papers CEB 06-014, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2006 Hudon M., "Risques et dangers: quelle classification et modes de gestion?" Working Papers CEB 06-001, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.
• 2005 Hudon M., "Subsidies and Financial Performances of the Microfinance Institutions: Does Management Matter?" Working Papers CEB 05-015, Centre Emile Bernheim, SBS-EM, Universite libre de Bruxelles - ULB.

 

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Also view

• Marek Hudon's page on RePEc
• Marek Hudon's page on DI-fusion (AUWB - ULB - UMONS)
• The list of publications of Centre Emile Bernheim (SBS-EM, ULB)
• Marek Hudon's page on the Solvay Brussels School of Economics and Management website