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<p>Microfinance plays a crucial role in enhancing economic growth, social development, and women’s empowerment of Self-Help Group (SHG) women, ultimately contributing to their decision-making ability and overall well-being. This study investigates the effect of sequential mediation of economic and social outcomes on the decision-making abilities of these women. Data was collected from 306 SHG women residing in villages near Pink City, Jaipur, Rajasthan (India), all registered members of the NGO Pitambara Foundation, using purposive sampling. The study employed Exploratory Factor Analysis (EFA) followed by Confirmatory Factor Analysis (CFA) and Covariance-Based Structural Equation Modelling (CB-SEM) using AMOS to test the hypotheses. Results suggest that the influence of microfinance on decision-making is primarily mediated by improvements in economic and social outcomes rather than being a direct result of accessing financial services alone. Policymakers and SHG programme designers should strengthen microfinance interventions by integrating skill development, health awareness, and social empowerment components alongside credit access, to maximise women’s decision-making ability and household well-being. This further strengthens their role within their families as well as communities at large. This research contributes to financial inclusion literature by enhancing the generalizability of the proposed framework and informing policy decisions for sustainable economic and social development.</p>

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Microfinance and women’s empowerment: sequential mediation of economic and social outcomes on decision-making ability

  • 期刊论文

  • 发表日期：

    2026年5月30日

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  • Rupali Paranjpe,
  • Prerna Manik Mahindroo,
  • Rinku Jain

摘要

Microfinance plays a crucial role in enhancing economic growth, social development, and women’s empowerment of Self-Help Group (SHG) women, ultimately contributing to their decision-making ability and overall well-being. This study investigates the effect of sequential mediation of economic and social outcomes on the decision-making abilities of these women. Data was collected from 306 SHG women residing in villages near Pink City, Jaipur, Rajasthan (India), all registered members of the NGO Pitambara Foundation, using purposive sampling. The study employed Exploratory Factor Analysis (EFA) followed by Confirmatory Factor Analysis (CFA) and Covariance-Based Structural Equation Modelling (CB-SEM) using AMOS to test the hypotheses. Results suggest that the influence of microfinance on decision-making is primarily mediated by improvements in economic and social outcomes rather than being a direct result of accessing financial services alone. Policymakers and SHG programme designers should strengthen microfinance interventions by integrating skill development, health awareness, and social empowerment components alongside credit access, to maximise women’s decision-making ability and household well-being. This further strengthens their role within their families as well as communities at large. This research contributes to financial inclusion literature by enhancing the generalizability of the proposed framework and informing policy decisions for sustainable economic and social development.