Identifying Key Factors in Financial Decision-Making of Knowledge-Based Company Managers

Abstract

This study aimed to identify key factors influencing the financial decision-making of managers in knowledge-based companies. This study was conducted using a qualitative approach and inductive content analysis. Data were collected through semi-structured interviews with 22 managers of knowledge-based companies based in Tehran. Participants were selected using purposive sampling, and data collection continued until theoretical saturation was reached. The collected data were analyzed using NVivo software through three coding stages: open, axial, and selective coding. The results revealed that financial decision-making in knowledge-based companies is influenced by four main categories: individual factors, organizational factors, environmental factors, and financial strategies. Individual factors included financial literacy, managerial experience, and psychological traits of managers. Organizational factors encompassed organizational structure, human resources, financial culture, and IT infrastructure. Environmental factors comprised economic conditions, financial regulations, and market competition. Financial strategies included financing policies, risk management, and financial planning. The findings indicate that financial decision-making in knowledge-based companies is influenced by a complex set of factors. Understanding these factors can help managers make more informed and effective financial decisions. Enhancing financial literacy among managers, developing financial infrastructure, and improving regulatory support for knowledge-based companies are key strategies for improving financial decision-making in these companies.