دلایل عدم توسعه یافتگی صنعت سرمایه گذاری ریسک پذیر در ایران

نوع مقاله : علمی - پژوهشی

نویسندگان

1 استادیارگروه مالی و بانکداری،دانشگاه علامه طباطبایی(ره)

2 دانشیار، دانشگاه شریف

3 استادیار، گروه مالی و بانکداری،دانشگاه علامه طباطبایی(ره)،

4 دانشجوی دکتری مدیریت مالی دانشگاه علامه طباطبایی(ره)

چکیده

سرمایه‌گذاری‌ ریسک‌پذیر در رشد کمی و کیفی کارآفرینی‌ اثری مستقیم دارد. زیست بوم نوآوری کشور بدون تأمین‌مالی مناسب عملکرد موفقی نخواهد داشت. هدف اصلی پژوهش بررسی دلایل عدم‌ توسعه-یافتگی سرمایه‌گذاری ریسک‌پذیر در ایران است. در مرحله‌ی اول با استفاده از روش کتابخانه‌ای مهم‌ترین عوامل موثر شناسایی گردید. سپس با استفاده از روش دلفی و اجرا کردن سه مرحله‌ای به توافق درخصوص عوامل موثر رسیدیم. نتایج حاکی از آن است که دلایل عدم‌ توسعه‌یافتگی صنعت سرمایه‌گذاری ‌ریسک‌پذیر عبارتند از تعداد کم ثبت اختراعات مبتنی بر نیاز بازار، زمانبر بودن فرآیند تأسیس و انحلال شرکت‌ها، عدم آشنایی با شاخص‌های ارزیابی موشکافانه، عدم برخورداری از مکانیزم داوری، قراردادهای غیرحرفه‌ای، محدودیت استراتژی خروج، کمبود سیاست‌های علمی و اجرایی این صنعت در دولت، کمبود مشوق‌های مالی و قانونی، وجود بروکراسی اداری ،اعطای کمک‌های بلاعوض و تسهیلات کم بهره همچنین درحال توسعه بودن: نظام اقتصادی کشور، نظام مالی کشور ، محیط کسب و کارهای نوآورانه، نظام فرهنگی و ضعف در شاخص‌های منابع‌انسانی اعم از مهاجرت نخبگان و صاحبین دانش، کمبود نیروی کار با کیفیت و مشاوره های حرفه‌ای، آشنایی کمتر دستگاه های نظارتی و اجرایی درگیر با ادبیات سرمایه‌گذاری ریسک‌پذیر، آشنایی کمتر صاحبین دانش و کارآفرینان با ادبیات مالی است.

کلیدواژه‌ها

عنوان مقاله [English]

Identify reasons for the non-development of venture capital in Iran

نویسندگان [English]

  • Dr Mohammad Hashem Botshekan 1
  • Dr Hossein Abdeh Tabrizi 2
  • Dr Mohammad Ali Dehghan Dehnavi 3
  • Mahsa Ghorbani Bavani 4
1 Assistant Professor, Financial Management, University of Allameh Tabatabai
2 Associate Professor, Sharif University of Technology
3 Assistant Professor, Financial Management, University of Allameh Tabatabai
4 PhD student of Financial Management, University of Allameh Tabatabai
چکیده [English]

Venture capital has a direct impact on the quantitative and qualitative growth of national and international entrepreneurship. The innovation ecosystem of country will not succeed without proper financing. The main objective of this study was to identify reasons for the non-development of venture capital in Iran. In the first stage using a library method and the most important factors in the venture capital development were identified.Then, using the Delphi method and implemented a three-stage agreement about the factors affecting the development of the venture capital industry reached. The results indicate that the reasons for the lack of development of the investment-oriented industry are the low number of patents based on market demand and distinctive innovation plans, the lack of scientific due diligence in the investment process, exit strategy limits, lack of scientific policies and executive plans of this industry in the state, lack of Supportive and incentive laws, the existence of administrative bureaucracy, developing country's economic system, , developing financial system, developing innovative businesses, , developing culture system in this industry, lack of qualitative workforce and professional advice, and the lack of professional training in the venture capital process, (given the success of the global experience and the transfer of domestic experiences(

کلیدواژه‌ها [English]

  • Venture capital- development factors- early-stage companies- Iran

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