Identification of Effective and Influential Factors on Debt Financing for Financial Institutions and Banks in the form of crowdfunding Using Fuzzy DEMATEL Method

مهندسی مالی و مدیریت اوراق بهادار

Article 6, Volume 13, Issue 53, December 2022, Pages 91-108   

Document Type: Original Article

Authors

Ghazal Shahabi shojaei¹; Shadi Shahverdiani^{* 2}; Hashem Nikoumaram³

¹Department of Financial Engineering, Emirates Branch, Islamic Azad University, Dubai, United Arab Emirates

²Department of Financial Management, Quds City Branch, Islamic Azad University, Tehran, Iran

³Department of Accounting , Science and Research branch, Islamic Azad University, Tehran, Iran

Abstract

The purpose of this research is to identify the effective factors on the debt financing of the financial institutions and banks in the form of the crowdfunding using Fuzzy DEMATEL to propose a model for obtaining the essential conditions for crowdfunding. Debt financing is borrowing money from companies and investors through bonds, banks or financial institutions to support related business activities. The research methodology is fuzzy technique, in which multi-criteria decision method (MADM) is used. The opinions of the experts and interviews with ten related experts and the snowball method have been used to reach the theoretical saturation stage in order to identify the factors affecting the development of crowdfunding model and also open, axial and optional coding has been considered. The results depicted identification of the influential factors in crowdfunding including legalism, culture building, funding, collective communication, e-commerce and trust building. According to the results of the study, it can be concluded that this issue is difficult regardless of the effective factors of crowdfunding to finance debt in financial institutions and banks in order to grow.

Keywords

Pattern Presentation; Debt Financing; Crowdfunding; Financial Institutions and Banks; Fuzzy Demitel

References