Ariane Szafarz (she/her) is a professor of finance at the Solvay Brussels School of Economics and Management (SBS-EM), Université libre de Bruxelles (ULB), Belgium. She is also a founding member and a Co-Director of the Centre for European Research in Microfinance (CERMi), the Co-Director of the SBS-EM Doctoral Programme in Management Sciences, and a founding member and the President of the Marie-Christine Adam Foundation. She chairs the Jury for the European Microfinance Programme (EMP).

Her research mainly focuses on microfinance, gender discrimination in the credit market, mission drift, ownership and control, epistemology of finance.

CERMi group photo - 2013



Anastasia Cozarenco, Valentina Hartarska, and Ariane Szafarz received the 2019 Warren Samuels Prize for the paper "Too Many Cooks Spoil the Broth: The Conflicting Impacts of Subsidies and Deposits on the Cost-Efficiency of Microfinance Institutions",  Atlanta, USA, January 2019



The Warren Samuels Prize is awarded by the Association for Social Economics to a paper, presented at the Allied Social Science Associations (ASSA) meetings, that best exemplifies scholarly work that is of high quality, is important to the project of social economics, and has broad appeal across disciplines.

Selected publications

See more of Ariane Szafarz's publications