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Sustainable Venture Capital Enablers And Barriers In Saudi Arabia Based On Analysis Using Grey-DEMATEL Approach

Posted on:2019-12-29Degree:DoctorType:Dissertation
Country:ChinaCandidate:ANTARCIUC ELENAFull Text:PDF
GTID:1369330572453499Subject:Business management
Abstract/Summary:PDF Full Text Request
The continuous growth in number and volume of venture capital deals,especially in clean technology,medicine and education start-ups presents a massive opportunity for sustainable development.Therefore,it is vitally important to develop the stimulating strategies that increase the number of venture capital investments that include sustainability criteria.Before the development of stimulation programs and policies,it is necessary to estimate the elemental factors in a most accurate way.At present,there is no any uniform and integrated method for assessing the venture capital which fits the sustainability criteria explicitly.The dissertation aim is the investigation of the sustainable venture capital enablers and barriers.To target this objective the analysis of the current research,and successful sustainable venture capital investments performed by the progressive venture capital firms worldwide was done,and the framework for sustainable venture capital was established.The framework encompasses all the sub-concepts by merging the environmental and social criteria with the traditional venture capital concept.Then,the grey-DEMATEL approach was used to analyze and the relationships between the enablers and the barriers of the sustainable venture capital investing.The sustainable venture capital investing was represented as one system that has several internal and external enablers and barriers.The integrated framework and the grey-DEMATEL approach were empirically applied based on the case of Saudi Arabia,an emerging market economy.Possible directions of enabling the sustainable venture capital investing were suggested.The research contributions include the following three points:1)Defining the concept of sustainable venture capital and proposing a novel,comprehensive and integrative framework.It contains the factors that influence the sustainable performance.It offers a holistic image of the research field based on the stakeholder theory,the resource-based view and the systems theory.2)Developing the enablers and the barriers to sustainable venture capital investing from the scientific literature and with the input from practitioners.3)Based on the venture capital ecosystem of Saudi Arabia,applying the grey-DEMATEL approach to quantitatively investigate the relationships,influences and relative importance of sustainable venture capital enablers and barriers and their role in supporting the organizational strategy and the adoption of sustainable practices.The results will enable critical actors to focus on the most vital aspects of the sustainable venture capital,and it proves the link between sustainable venture capital investing,sustainable start-ups and the opportunities for achieving sustainable performance.The research significance is that the integrated framework and the application of the grey-DEMATEL approach and the following results could be used by government authorities and venture capital firms to evaluate,analyze,monitor,forecast and enable the sustainable venture capital investing in a particular region or country.It is a useful decision-making tool on the strategic level for government authorities to evaluate the effectiveness of the programs aimed at stimulating the investments into sustainable start-ups.The conclusion is that the research field of sustainable venture capital investing is relatively and there is lack of evidence from emerging market economies.From both theoretical and methodological perspective,this research field has a multidisciplinary nature.At this moment,there is the lack of consensus about the definitions and concepts in this field.Moreover,there has been no focus on the integrative and dynamic aspects of sustainable venture capital,when the area is represented as an integrative dynamic system.The progress in this research field might be made on the discipline level:further improving the sustainable venture capital framework,applying new methodologies for enablers,barriers and outcome evaluation,and on the practice level:developing the simulation models considering dynamic factors,estimating the effects from the inclusion of sustainable criteria into the venture capital deals.
Keywords/Search Tags:Venture Capital, Sustainability, Enablers, Barriers, DEMATEL, Saudi Arabia
PDF Full Text Request
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