Esther Leibel
New York University
Esther Leibel, originally from Italy, is a third year PhD student from NYU Stern School of Business. A former sustainability consultant for Deloitte and Arthur D. Little, her research interests lie at the intersection of institutional entrepreneurship and corporate sustainability. In particular, she is concerned with the processes through which institutional entrepreneurs engage with economic agents (e.g., individuals or corporations) to create a negotiated environment where all actors respect and advance the principles of sustainable development. Currently, she is looking at micro-finance organizations (i.e., SIFFS, a non-profit microfinance institution operating in Southern India) as sites where institutional entrepreneurs deal with individuals and collectives. For her dissertation she plans on extending the investigation to larger non-governmental organizations such as the United Nations Environmental Program (UNEP) or the B-lab, both of which run several sustainability-centered initiatives that require the involvement of corporations and other business actors.
Sustainability and microfinance in Southern India - The case of SIFFS
This study is part of a broader research agenda that investigates the practices of SIFFS, a non-profit microfinance institution from Southern India. Using propensity score matching, I analyze the loans distributed by SIFFS between 1995 and 2008. Contrary to the traditional dichotomy between outreach and efficiency (in which smaller loans are less likely to be repaid), I find that smaller loans have a higher probability of being reimbursed than larger loans. This suggests that SIFFS effectively screens the borrowers of both large and small loans, and its local ties and management practices allow for building more inclusive markets. Additionally, qualitative research suggests that SIFFS contributes to the dissemination of more sustainable fishing practices. SIFFS' emphasis on the safeguard of fishing resources is a rare find among microfinance institutions, and exemplifies a triple-bottom-line paradigm in which institutional entrepreneurs are the primary drivers of sustainable development.