Feasibility study of entrepreneurship through acquisition (ETA) using the study and explanation of effective factors in the Iranian market

Subject Areas : Journal of Investment Knowledge

MARYAM Amiri ¹ , Fraydoon Rahnamay Roodposhti ² , Mohsen Rostamy-Malkhalifeh ³ , Afsaneh Zamani Moghaddam ⁴

1 - PhD Student in Financial Engineering, University of Science and Research, Islamic Azad University, Tehran, Iran
2 - PhD in Finance, Full Professor, University of Science and Research, Islamic Azad University, Tehran, Iran
3 - PhD in Applied Mathematics, Associate Professor, University of Science and Research, Islamic Azad University, Tehran, Iran.
4 - Ph.D. in Educational Management, Associate Professor, University of Science and Research, Islamic Azad University, Tehran, Iran.

Received: 2022-02-07 Accepted : 2022-02-14 Published : 2022-06-22

Keywords: Entrepreneurship models through acquisition, Search fund model, Entrepreneurship financing, Feasibility study,

Abstract :

AbstractThe purpose of this study is to assess the feasibility of entrepreneurship through acquisition by identifying, reviewing, and explaining the factors affecting the Iranian market. The present research is applied in terms of purpose and mixed-method (qualitative-quantitative). In the qualitative stage, a research questionnaire was prepared using library studies and a survey of experts, and in the quantitative stage, data from the target community were collected using a questionnaire.The statistical population of the present study includes all entrepreneurs and investors. A non-random sampling method was used. Descriptive and inferential statistics (one-sample t-test) were used to analyze the data.Given the results of this study, we conclude that the acquisition strategy can be considered as a short and operational path in identifying investment opportunities and developing entrepreneurial businesses.

References:

• ابراهیمی،سهیلا.زمان زاده دربان، موسی و ابرهیمی، بابک.(1384).انکوباتور ها و توسعه کارآفرینی در ایران.فصلنامه تدبیرشماره 166


• بت‌شکن, محمدهاشم, سیف‌الدینی, & جلال. (1398). کسب و کارها و منابع تأمین مالی متناسب با آنها.مجله اقتصادی-ماهنامه بررسی مسایل و سیاستهای اقتصادی, 10(9), 87-116.‎


• چیت سازان, هستی, طالبی, کامبیز, & محب علی. (1396). شناسایی و اولویت‏ بندی رایج ترین روش های تأمین مالی خودراه انداز در کسب‏ و کارهای نوپای حوزه فصلنامه علمی پژوهشی توسعه کارآفرینی, 10(1), 61-79.‎


• دامنی, عبدالرزاق, زمانی مقدم, سالارزهی, حبیب الله, هاشمی, & سیداحمد. (2021). بررسی و تبیین عوامل مؤثر بر کارآفرینی منابع انسانی در شرکت‌های کوچک و متوسط منطقه آزاد چابهار.پژوهش های مدیریت عمومی, 13(50), 287-312.‎


• زیوری امینه, محمدی خیاره محسن, & مظهری رضا. (1399). مروری سیستماتیک بر عوامل اقتصادی مؤثر بر کارآفرینی.‎


• شیرکوند, سعید, عباسیان, محمودی, وحید, غلامپورفرد, & محمدمسعود. (2020). مقاله پژوهشی: چهارچوب مفهومی تامین مالی کارآفرینی در ایران.راهبرد مدیریت مالی, 8(1), 1-20.‎


• رهنمای رودپشتی، فریدون. امیری،مریم.اسماعیلی،الوالفضل(1398).مجموعه هفت گفتاری ادغام و اکتساب(1398)، انتشارات هوشمند تدبیر


• ربیعی، ع.، و صادق زاده، ح. (1390). بررسی رابطه سرمایه اجتماعی بر کارآفرینی. رفاه اجتماعی, 11(41), 191-221. https://www.sid.ir/fa/journal/ViewPaper.aspx?id=153994


• فتحی. (2020). پدیده سالخوردگی جمعیت در ایران.مجله‌ی بررسی‌های آمار رسمی ایران (علمی-ترویجی), 30(2), 387-413.‎


• محمودی عالمی, اسمعیلی عالمی, & حبیب اله. بررسی روشهای تأمین مالی در طرحهای کارآفرینانه بخش تعاون استان مازندران.فصلنامه تعاون و کشاورزی, 21(1), 113-126.‎


• نکوئی زاده, شکوفه, دستگیر, محسن, علی احمدی, & سعید. (2020). تأثیر بحران اقتصادی بر ارتباط بین قدرت مدیرعامل با ارزش و عملکرد مالی؛ نقش ویژگی‌های گزارشگری مالی شرکت.مطالعات تجربی حسابداری مالی, 17(68), 1-31.‎


• Audretsch, D., Keilbach, M. C., & Lehman, E. E. (2006). Firms’ managerial strategies and economic growth.


• Butticè, V., & Rovelli, P. (2020). “Fund me, I am fabulous!” Do narcissistic entrepreneurs succeed or fail in crowdfunding?. Personality and Individual Differences, 162, 110037.


• Carland, J. W., Hoy, F., Boulton, W. R., & Carland, J. A. C. (1984). Differentiating entrepreneurs from small business owners: A conceptualization. Academy of management review, 9(2), 354-359.


• Cecere, G., Le Guel, F., & Rochelandet, F. (2017). Crowdfunding and social influence: an empirical investigation. Applied economics, 49(57), 5802-5813.


• Cohen, Y., & Schneidman, E. (2013). High-order feature-based mixture models of classification learning predict individual learning curves and enable personalized teaching. Proceedings of the National Academy of Sciences, 110(2), 684-689.


• Delmar, F., Wiklund, J., & Davidsson, P. (2006). Entrepreneurship and the Growth of Firms (No. hal-02298073).


• Dvouletý, O. (2017). Can policy makers count with positive impact of entrepreneurship on economic development of the Czech regions?. Journal of Entrepreneurship in Emerging Economies.


• Davidsson, P. (2012). The entrepreneurial process.


• Dennis, J., & Laseca, E. (2016). The Evolution of Entrepreneurship through Acquisition. University of Chicago Booth School of Business.


• DePamphilis, D. M. (2001). Managing growth through acquisition: Time–tested techniques for the entrepreneur. The International Journal of Entrepreneurship and Innovation, 2(3), 195-205.


• Fernández-Aráoz, C., Iqbal, S., & Ritter, J. (2015). Leadership lessons from great family businesses. Harvard business review, 93(4), 82-88.


• Festinger, L. (1962). A theory of cognitive dissonance (Vol. 2). Stanford university press.


• Gartner, W. B. (1988). “Who is an entrepreneur?” is the wrong question. American journal of small business, 12(4), 11-32.


• Gubbi, S. R., Aulakh, P. S., Ray, S., Sarkar, M. B., & Chittoor, R. (2010). Do international acquisitions by emerging-economy firms create shareholder value? The case of Indian firms. Journal of International Business Studies, 41(3), 397-418.


• Hunt, R., & Fund, B. (2012). Reassessing the Practical and Theoretical Influence of Entrepreneurship Through Acquisition. Hunt, RA and Fund, BR (2012) Reassessing the Practical and Theoretical Influence of Entrepreneurship Through Acquisition Journal of Entrepreneurial Finance, 16(1), 29-56.


• Isenberg, D. (2011). Introducing the entrepreneurial ecosystem: Four defining characteristics. Forbes, May 25, 2011.


• Järvinen, M. (2019). The Finnish Search Fund Model. aaltodoc.aalto.fi


• Liu, Y., Chen, Y., & Fan, Z. P. (2021). Do social network crowds help fundraising campaigns? Effects of social influence on crowdfunding performance. Journal of Business Research, 122, 97-108.


• Madhok, A., & Keyhani, M. (2012). Acquisitions as entrepreneurship: Asymmetries, opportunities, and the internationalization of multinationals from emerging economies. Global Strategy Journal, 2(1), 26-40.


• McMillan, J., & Woodruff, C. (2002). The central role of entrepreneurs in transition economies. Journal of economic Perspectives, 16(3), 153-170.


• Nows, D. (2021). Acquisition Entrepreneurship: One Solution to the Looming Business Succession Crisis.


• Ruback, R. S., & Yudkoff, R. (2017). HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company. Harvard Business Review Press.


• Ruback, R. S., & Yudkoff, R. (2017). Buying your way into entrepreneurship.


• Ruback, R. S., & Yudkoff, R. (2017). HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company. Harvard Business Review Press.


• Sakr, N. (2016). Survival or sustainability? Contributions of innovatively managed news ventures to the future of Egyptian journalism. Journal of Media Business Studies, 13(1), 45-59.


• Salamzadeh, A., & Markovic, M. R. (2018). Shortening the learning curve of media start-ups in accelerators: Case of a developing country. In Evaluating media richness in organizational learning (pp. 36-48). IGI Global.


• Sandefur, R. L., & Laumann, E. O. (1998). A paradigm for social capital. Rationality and society, 10(4), 481-501.


• Scarato, M. (2018). Search Funds: an european perspective and an italian market analysis.


• Thurik, R., & Wennekers, S. (2004). Entrepreneurship, small business and economic growth. Journal of small business and enterprise development.