Designing an Optimal Model for Development of Venture Capital in Iran using the Grounded Theory
Quarterly Journal of Securities Exchange

Quarterly Journal of Securities Exchange

Designing an Optimal Model for Development of Venture Capital in Iran using the Grounded Theory

Document Type : Original Article

Authors
asgar najafiahmadabad 1
Naser fegh-hi farahmand 2
Sirus Fakhimiazar 3
Seyyed Ali Paytakhti oskuyi 4
1 PhD student in financial management of Azad Tabriz University
2 Department of Management, Tabriz Branch, Islamic Azad University. Tabriz. Iran.
3 Department of Management, Tabriz Branch, Islamic Azad University. Tabriz. Iran
4 Department of Economic, Tabriz Branch, Islamic Azad University. Tabriz. Iran
10.22034/jse.2020.11213.1430
Abstract
The purpose of this study was to design an optimal model of venture capital development in Iran using grounded theory. The research method was mixed qualitative and quantitative. For this purpose, firstly, the qualitative approach underlying the paradigmatic model of research including causal conditions, interventionist conditions, contextual conditions, strategies, outcomes, and pivotal categories of venture capital has been extracted. Data were collected through qualitative interviews. The statistical population of the qualitative sector includes venture capital experts who were selected by theoretical sampling method for 20 interviews. At the quantitative stage, each of the extracted categories has been verified using confirmatory factor analysis. The data collection tool in this section was a researcher-made questionnaire that was designed based on qualitative extraction concepts. This questionnaire was distributed among the sample members after determining the validity and reliability. The statistical population of the quantitative section consisted of managers of stock companies. The sample size of this section is based on the recommendations of 210 confirmatory models. The qualitative results showed 67 concepts in the form of 15 sub-categories and six main categories to develop venture capital. The results of the quantitative section also showed that each of the main and sub-categories extracted from the research experts can be generalized to the managers of the stock companies.
Keywords
Venture Capital
Grounded Theory
Stock Exchange
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Quarterly Journal of Securities Exchange
Volume 14, Issue 54
Autumn 2021
Pages 150-175