Identifying the components of financial risk management in knowledge-based startup companies

Bagheri, Ali; Faraji, Omid; Arabzadeh, Meysam; Ghodrati Qazaani, Hassan

doi:10.22075/ijnaa.2024.34024.5077

Identifying the components of financial risk management in knowledge-based startup companies

Document Type : Research Paper

Authors

Ali Bagheri ¹

Omid Faraji ²

Meysam Arabzadeh ³

hassan ghodrati Qazaani ⁴

¹ Faculty of Accounting and Management, Kashan Branch, Islamic Azad University, Kashan, Iran

² Assistant Professor, University of Tehran, Farabi Campus

³ Assistant Professor, Department of Accounting, Kashan Branch, Islamic Azad University, Kashan, Iran

⁴ Department of Management and Accounting, Kashan Branch, Islamic Azad University, Kashan, Iran

10.22075/ijnaa.2024.34024.5077

Abstract

Risk management manages risks through controlling them and financing losses that have occurred despite efforts to control them. The present research is qualitative in nature, in which 18 experts including professors and researchers in the field of auditing, managers and partners of knowledge-based companies, and developers of accounting and auditing standards and principles have been considered as the population using a purposive and discriminative sampling method for semi-structured interviews. The data were analyzed using the grounded theory method. The data obtained from the interview analysis and within-case analysis consisted of 5 main themes, 20 sub-themes, and 178 conceptual codes, which were ultimately categorized into 5 main domains for financial risk management, including causal factors, contextual conditions, interveners, financial strategies, consequences, and feedback. Based on the findings of the research, the identification of opportunities, financial provisioning, government material and spiritual support, business expansion speed, competitors, profitability stability stage, environmental turbulence, technology, market, consultancy, uncertainty of environmental factors, financial risk threats, research challenges, threats and marketing weaknesses, inability to formulate and implement financial strategies, executive management weaknesses of knowledge-based startup companies, fulfillment of social responsibilities, increased investor confidence, and profitability effectiveness are among the components of financial risk management in knowledge-based startup companies.

Keywords

financial risk management

knowledge-based companies

financial opportunities

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