Designing a Financial Risk Management Analysis Model for Startups in Iran’s Economy
Keywords:
Global and Local Comparison of Startup Financial Risk, Thematic Qualitative Findings, Multigroup Analysis, Advanced, Mixed MethodologyAbstract
This study aims to design and empirically validate a comprehensive financial risk management analysis model to explain financial sustainability mechanisms in Iranian startups. A mixed-methods exploratory–confirmatory design was employed. Qualitative interviews with financial and startup experts in Tehran identified core risk management dimensions. A structured questionnaire was then administered to 312 startup managers and financial decision-makers. Structural equation modeling was applied for data analysis. Results revealed significant relationships: Risk Identification → Risk Assessment (β=0.61), Risk Assessment → Risk Mitigation Strategies (β=0.50), Risk Mitigation Strategies → Financial Governance & Controls (β=0.49), Financial Governance & Controls → Funding Diversification (β=0.54), and Funding Diversification → Startup Financial Sustainability (β=0.43). The model explained 45.6% of the variance in financial sustainability. Startup financial sustainability emerges from an integrated risk management system progressing from risk identification to effective governance and diversified financing. The proposed model provides a robust framework for strengthening financial resilience of startups in Iran.
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Copyright (c) 2025 Farhad Sohrab Manesh (Author); Seyed Ali Paytakhti Oskouei (Corresponding author); Ali Asghar Mottaghi, Saeed Anvar Khatibi (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
