The Effect of Financing Components on the Structure of Small and Medium-Sized Enterprises in the Petrochemical Industry

Subject Areas : International Journal of Finance, Accounting and Economics Studies

Meysam Saniefar ¹ , Seyed Reza Salehiamiri ² , Mehdi Elyasi ³ , Mehran Mokhtari Bayekolaie ⁴ , Seyed Abdollah Sajadijaghargh ⁵

1 - P.hd of Student, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran
2 - Cultural Management and Planning Group, School of Management and Economics, Science and Research Branch, Azad University, Tehran, Iran
3 - Technology Management and Entrepreneurship Group, Faculty of Management and accounting, Allameh Tabataba'i University,Tehran,Iran
4 - Government Management Group, Chalous Branch, Islamic Azad University,Chalous, Mazandaran, Iran
5 - School of Management and Economics, Science and Research Branch, Azad University, Tehran, Iran

Received: 2022-01-07 Accepted : 2022-03-26 Published : 2022-12-01

Keywords: financing components, petrochemical industry l, small and medium – sized enterprises,

Abstract :

Today, small and medium-sized enterprises account for an important part of the global l l economy, and due to its positive effects, many governments attempt to develop and support small and medium-sized enterprises. Thus, perceiving the factors affecting the development of these businesses is of crucial importance. The present study seeks to examine the effect of financing components on the development of small and medium-sized enterprises in the petrochemical industry. The present study is applied in terms of purpose and descriptive-analytical in terms of methodology. The statistical population of this study consists of the managers of small and medium-sized enterprises in the petrochemical industry. The questionnaires are distributed among 39 managers of the relevant field. The validity of the research instrument is calculated using the confirmatory factor analysis model and its reliability is calculated using Cronbach's alpha. Data analysis is performed using SPSS and SMART PLS software with descriptive statistics and structural equation modeling. We find that the cultural environment has a significant effect on the development of small and medium-sized enterprises in the petrochemical industry. Also, the research results indicate that the components of low power distance, individualism, low uncertainty avoidance, long-term orientation and masculinity have a positive impact on the development of small and medium sized enterprises in the petrochemical industry. Educational and skill components can lead to the development of small and medium sized enterprises in the petrochemical industry by facilitating business processes.