textPurpose:
The purpose of this paper is to describe the development and validation of a multi-dimensional instrument to measure servant leadership. 
Design/Methodology/Approach 
Based on an extensive literature review and expert judgment, 99 items were formulated. In three steps, using eight samples totaling 1571 persons from The Netherlands and the UK with a diverse occupational background, a combined exploratory and confirmatory factor analysis approach was used. This was followed by an analysis of the criterion-related validity. 
Findings:
The final result is an eight-dimensional measure of 30 items: the eight dimensions being: standing back, forgiveness, courage, empowerment, accountability, authenticity, humility, and stewardship. The internal consistency of the subscales is good. The results show that the Servant Leadership Survey (SLS) has convergent validity with other leadership measures, and also adds unique elements to the leadership field. Evidence for criterion-related validity came from studies relating the eight dimensions to well-being and performance. 
Implications: 
With this survey, a valid and reliable instrument to measure the essential elements of servant leadership has been introduced.
Originality/Value 
The SLS is the first measure where the underlying factor structure was developed and confirmed across several field studies in two countries. It can be used in future studies to test the underlying premises of servant leadership theory. The SLS provides a clear picture of the key servant leadership qualities and shows where improvements can be made on the individual and organizational level; as such, it may also offer a valuable starting point for training and leadership development.

The Servant Leadership Survey: Development and Validation of a Multidimensional Measure

Microfinance has received a lot of attention recently, both from policy makers as well as in academic circles. Two of the main topics that have been hotly debated are explaining joint liability group lending and its implications for reducing information asymmetries, and the trade-off between the financial sustainability and outreach of microfinance programmes. This Feature contains three novel empirical contributions providing new insights with respect to why and how joint liability group lending works. It also contains the first large-scale systematic analysis of the trade-off between financial performance and outreach of microfinance institutions.

The empirics of microfinance: what do we know?

ABSTRACT: Microfinance Institutions (MFIs) foster financial inclusion by offering small, flexible loans to underserved individuals. Group loans, with joint liability, may reduce costs and augment repayment, enhancing financial performance of MFIs. This study empirically analyzes the impact of group loans on costs, repayment rates, and profitability using data from 118 countries. The study employs an unbalanced panel of 1,655 MFIs from 2003 to 2018, consisting of 6,193 observations collected from the World Bank MIX Market Data. It analyzes the impact of group loans on MFIs' cost efficiency, repayment rate, and financial performance using fixed and random effects panel regressions. The study incorporates various control variables such as firm size, outreach, expense ratio, and regional factors. Group loans include both self-help and solidarity loans, and performance is evaluated through metrics such as cost per loan, portfolio at risk, profit margin, and outreach to women and to the poor. The study finds that a higher proportion of group loans improves repayment, financial performance, and outreach for MFIs. A 10% increase in group loans reduces delinquency rates by 0.20%, increases profit margin by 0.005, and raises the return on assets by 0.001. Group lending also extends depth of outreach and outreach to female borrowers, augmenting the social mission of microfinance. Standard diagnostic tests rule out possible endogeneity in the models. These results are statistically significant and robust to the choice of models, measurement of financial performance, and definition of outreach. Overall, the findings confirm that group loans contribute to better repayment behavior, cost efficiency, and financial inclusion, affirming the study's core hypotheses. The study suggests that increasing the proportion of group lending can enhance MFIs' financial sustainability by improving repayment rates. Governments and development organizations should encourage MFIs to adopt group lending models as a tool for achieving social objectives like gender equity and poverty alleviation. In addition to supporting loans with joint liability and peer monitoring, MFIs and policymakers should implement risk-mitigation strategies like borrower training, progressive loans, and strong monitoring to enhance group lending outcomes. 

Joint Liability, Outreach, and Performance of MFIS

Microlending has become one of the primary interventions intended to alleviate poverty in the developing world. However, empirical results of the benefits of microlending have been disappointing. This article proposes the common microlending practice of group lending reduces the likelihood borrowers will engage in innovative activities, which has been demonstrated to be a key factor in improving borrower outcomes. The hypotheses proposed are tested with data collected from interviews with 340 microloan borrowers in Ethiopia. The findings are consistent with a weak sorting effect where innovative individuals are less likely to participate in group loans than individual loans, and a social pressure effect where innovative individuals taking group loans are pressured to behave less innovatively than their peers taking individual loans.

How group lending affects innovation: evidence from ethiopia

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How group lending affects innovation: evidence from ethiopia