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Examining multilevel effects of financial and social performance of microfinance institutions (MFIs), the authors aim to investigate microfinance mission drift from the trend effect. The authors also seek to move the literature forward by decomposing the performance variance at different levels and examining whether and how much each level of analysis matters.

Growth curve modeling and variance decomposition analysis were conducted using a dataset consisting of 17,953 observations of 2,902 microfinance institutions in 122 countries from 1999 to 2017.

The study's result shows no evidence of mission drift in the microfinance industry. While MFIs improve their economic returns, they also increase the depth of outreach. In addition, firm-level heterogeneity is the dominant effect which explains 44% of the variance in microfinance financial performance (ROA) and 39% of the variance in social performance (Depth of outreach). The country-level is more critical in explaining financial performance (ROA) than social performance (Depth of outreach), accounting for 11 and 32% of the total variance, respectively. In particular, the interplay between the country-level and organizational-category level accounts for 9 and 11% of the total variance in financial performance (ROA) and social performance (Depth of outreach), respectively.

This study’s multilevel analysis of microfinance performances moves the literature forward by responding to the debate on microfinance mission drift and providing a comprehensive overview of both social and financial performance. By focusing on the trend effect, the result of our models shows that MFIs improve both financial and social performance to fulfill dual missions. The microfinance business model becomes sustainable over time. The study's results of country effect and its interaction effect with different organizational categories reveal the prominence of a good policy design on MFI's mission fulfillment.

China is primarily a nonreligious country with less than 10% of people following Buddhism, Taoism, Islam, Catholicism, or other religions. Two major communication paths, the land and sea Silk Roads, directly affected the distribution and development of Muslim tourism and attractions. The combination of Islam with local custom and culture is a unique feature in China, and contributes to its development as a form of ethnic rather than religious tourism. As a result, research in China focuses on ethnic product development, minority sports and anthropological tourism, themed events, and intangible cultural heritage.

This paper takes the current COVID-19 pandemic raging around the world as a realistic background and uses the informal scientific communication mode in social media as the theoretical basis. It aims to explore the characteristics and rules of scientific communication in social media under emergency events, grasp the potential and risks of scientific communication in social media in special times and provide a perspective of academic communication for the scientific response.

The authors select the enumeration data of the early COVID-19 theme papers spread on social media networks as the research object, apply descriptive statistical analysis to the basic statistical distribution of variables and use factor analysis and visualization methods to explore the law and characteristics of the spread of scientific papers on social media platforms.

It was found that users of the COVID-19 paper are mainly in North America, Europe and South America, followed by those in East Asia, Southeast Asia and Oceania. The users are mainly public figures, doctors and other practitioners, science communicators and scientists. The process of social media communication reflects three ways of knowledge construction, social interaction and academic communication, and there are three ways of communication law and changing trend of cross transition and integration.

This study observes the function and role of science communication in social media in a special period from a unique perspective of academic communication, so as to promote academic means to fight against the epidemic.