Document Type : Original Article
Authors
1
Accounting Department, Hazrat_e Masoumeh University (HMU), Qom, Iran
2
Young Researchers and Elite Club, Abadan Branch, Islamic Azad University, Abadan, Iran
10.48301/kssa.2023.397633.2550
Abstract
The purpose of this study is to investigate the financing of entrepreneurial activities from the two perspectives of capital supply and demand, with emphasis on familism as well as risk and return. This study is practical in nature and is considered as a descriptive-exploratory in terms of data collection method. The required data were collected through the two separate questionnaires. Each questionnaire included three parts (1) demographic information and specific questions, (2) familism questions, and (3) a scenario with related questions. The population of this study includes technological companies under the supervision of science & technology parks (demand sector) and retail investors (supply sector). The data of the demand sector have been analyzed using logistic regression and factorial designs, and the data of the supply sector have been analyzed using multiple and hierarchical regression. According to the research findings, in the capital demand sector, the influencing variables are: age, education, household size, skill and experience, and business goals. Also, entrepreneurs pay attention to the risk and return when making decisions related to the financing of their projects. In the capital supply sector, the influencing variables are: investment experience, planning, business goals, traditionality, familism, investment return, startup team capability and track record, the risk of failure and the exit plan available. In general, the findings of this study lead to a better understanding of the role of familism on the new venture financing with regard to the risk and return.
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