Latest News

April 6, 2020

New appointment as Co-Editor of Annals of Public & Cooperative Economics

July 29, 2019

New book on financial inclusion and microfinance co-edited with Marc Labie & Ariane Szafarz

September 5, 2018

A research review on the drivers of the performance of microfinance institutions (with N. Hermes) just accepted in Journal of Economic Surveys

Paper on what is a fair level of profit for a social enterprise' (with M. Labie & P. Reichert) just accepted in Journal of Business Ethics

May 28, 2018

One new paper on complementary currencies and the commons just accepted in Journal of Business Ethics and a book review published in Business Ethics Quarterly

February 2, 2018

Third edition of the MOOC on the Commercialization of social enterprises and microfinance is just starting!

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His courses

  • Business Ethics (ULB - UNamur)
  • Managing Social Enterprises (ULB)
  • Social Innovation (ULB)
  • Ethics in Microfinance (ULB)
  • Social Finance/Social Banking (Solvay Vietnam)
  • Finance (Solvay Vietnam)

More information


Marek Hudon is Professor at the Solvay Brussels School of Economics and Management (SBS-EM), Université Libre de Bruxelles (ULB), Belgium. He is also Co-Director of the Centre for European Research in Microfinance (CERMi), and Director of the Centre d'Etudes Economiques et Sociales de l'Environnement (CEESE). He has initiated and is still Scientific Coordinator of the European Microfinance Programme (EMP). He has conducted research in India, Kenya, Mali, Morocco, Vietnam and the Democratic Republic of Congo.


His research mainly focuses on Social and nonprofit entreprises/entrepreneurship (Microfinance and Complementary currencies, particularly in the context of developing economies), sustainable development and business ethics.

Latest publications

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


2020 Hideto Dato, M. , Hudon, M., & Mersland, R., 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


See more of Marek Hudon's publications