Application of meta-synthesis technique in identifying the valuation components of startup companies from the perspective of venture capitalists

Subject Areas : Accounting

Mehdi Niazi ¹ , Farzin Rezaei ² , Hosein Etemadi ³ , غلامرضا کردستانی ⁴

1 - PhD Student, Accounting Department, Qazvin Branch, Islamic Azad University, Qazvin, Iran
2 - Associate Professor, Department of Accounting, Qazvin Branch, Islamic Azad University, Qazvin, Iran (Corresponding Author)
3 - Professor, Department of Accounting, Tarbiat Modares University, Tehran, Iran
4 - Professor, Department of Accounting, Imam Khomeini International University, Qazvin, Iran

Received: 2024-12-16 Accepted : 2025-06-08 Published : 2025-08-21

Keywords: Valuation, startup company, venture capitalists.,

Abstract :

The aim of the research is to apply the meta-synthesis technique in identifying the valuation categories of startup companies from the perspective of venture capitalists. The researcher, using a systematic review and meta-synthesis approach, analyzed the results and findings of previous researchers and identified the effective factors by performing the 7 steps of the Sandelowski and Barroso method. Out of 580 articles, 47 articles were selected based on the CASP method. The correlation of experts' views was obtained by calculating the Holstey coefficient of 0.854. The p-Scott index was obtained as 0.831. The Cohen's kappa index was obtained as 0.783. The Krappendorff alpha was estimated as 0.926. The results of analyzing the data collected in the ATLAS TI software resulted in the identification of 115 primary concepts in 20 indicators in 4 dimensions. The identified dimensions are management factors including knowledge and competency indicators, production potential, project management potential, time management, human resources, business model, technical potential. Conditions for generating innovative ideas including intellectual property indicators, manufacturing process, financial and economic, laws and licenses. Financing including business angel indicators, CVC and facilitators, banks, venture capital and crowdfunding. Environmental factors including market indicators, competitive advantage, institutional support and social and cultural factors.

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