شناسایی و ریشه‌یابی الگوهای کلان نظام ضمانت اعتبار شرکت‌های دانش‌بنیان

نوع مقاله : مقاله علمی پژوهشی

نویسندگان

1 دانشجوی دکتری مدیریت تکنولوژی، دانشگاه علامه طباطبائی، تهران.

2 دانشیار دانشکده مدیریت و حسابداری، دانشگاه علامه طباطبائی، تهران.

3 دانشیار دانشکده اقتصاد، دانشگاه توکای، توکیو، ژاپن.

چکیده

با توجه به اهمیت مساله تامین مالی فعالیت‌های فناورانه و نوآورانه در حرکت به سمت اقتصاد دانش‌بنیان، کشورهای مختلف ترتیبات نهادی مختلفی را برای رفع مشکل تامین مالی شرکت‌های دانش‌بنیان مورد استفاده قرار داده‌اند. در این راستا کارایی محدود روش‌های مرسوم باعث شده ‌است در چند دهه اخیر ابزار ضمانت اعتبار نیز در کانون توجهات سیاستگذاران قرار گیرد. براین‌اساس در ایران نیز علی‌رغم رواج بکارگیری ضمانت اعتبار، کماکان از ظرفیت کامل این ابزار بهره‌برداری نشده است. بنابراین در پژوهش حاضر ابتدا الگوهای کلان نظام ضمانت اعتبار مبتنی بر مطالعه اسناد و مصاحبه ساختاریافته با نمایندگان صندوق‌ها شناسایی شده است و سپس ریشه‌یابی الگوهای شناسایی‌شده با تکیه بر مصاحبه‌های باز با خبرگان در دستور کار قرار گرفته است. بر‌این‌اساس مهم‌ترین الگوهای کلان نظام ضمانت اعتبار شرکت‌های دانش‌بنیان به شرح زیر شناسایی شد: 1) عدم استفاده از ظرفیت‌های متنوع چارچوب اجرایی در نظام ضمانت اعتبار، 2) عدم استفاده از مدل‌های متنوع ساختار مالکیت نهادهای ارائه‌دهنده خدمت ضمانت اعتبار، 3) تمرکز بیشتر نهادهای موجود بر ضمانت مبتنی بر قرارداد، 4) فقدان نهاد مالی تخصصی ارائه‌دهنده خدمات ضمانت‌نامه در بخش خصوصی، 5) انتخاب محدود شرکت‌های دانش‌بنیان برای دریافت خدمت ضمانت تسهیلات، 6) استفاده همزمان از دو ابزار تسهیل‌گری تامین سرمایه اولیه و مشارکت در پوشش ریسک برای اکثر صندوق‌های دولتی، 7) عدم استفاده از ابزار مشارکت در پوشش ریسک برای صندوق‌های خصوصی، 8) عدم بکارگیری سایر ابزارهای تسهیل‌گری توسط دولت، 9) فقدان قانون کلان برای نظارت مالی بر فعالیت نهادهای ضمانت اعتبار و 10) وجود چند نهاد متولی برای نهادهای ضمانت اعتبار.

کلیدواژه‌ها


عنوان مقاله [English]

Identification and Root Cause Analysis of the Macro Patterns of the Credit Guarantee System of the technology-based firms

نویسندگان [English]

  • Seyed Ali Fatemi Khorasgani 1
  • Seyed Habibollah Tabatabaeian 2
  • Farhad Taghizadeh-Hesary 3
  • Vajhollah Ghorbanizadeh 2
1 Ph.D. Student in Technology Management, Allameh Tabataba'i University, Tehran, Iran.
2 Associate Professor, School of Management and Accounting, Allameh Tabataba’i University, Tehran, Iran.
3 Associate Professor, School of Economics, Tokai University, Tokyo, Japan.
چکیده [English]

Due to the importance of financing the issue of technological and innovative activities in moving towards a technology-based economy, different countries have used different institutional arrangements to solve the problem of financing technology-based firms. The limited efficiency of conventional methods such as government direct financing and venture capital has led to the focus of credit guarantee instruments in recent decades. Accordingly, in Iran, despite the prevalence of the use of credit guarantees, the full capacity of this tool is still not used. Therefore, in the present study, first, the macro patterns of the credit guarantee system based on the study of documents and structured interviews with the representatives of the funds have been identified. Then, the root causes of the identified patterns are extracted based on open interviews with experts. Based on the findings, the most important macro models of credit guarantee system of technology-based firms were identified as follows: 1) non-use of various capacities of the executive framework in the credit guarantee system, 2) non-use of various models of the ownership structure of credit guarantee service providers, 3) focus of existing institutions on contract guarantee, 4) Lack of specialized financial institution providing guarantee service in the private sector, 5) Limited selection of technology-based firms to receive guarantee service, 6) Simultaneous use of two facilities to facilitate initial capital financing and risk coverage for most government funds, 7) non-use of risk-sharing instruments for private funds, 8) non-use of other facilitators by the government, 9) lack of macro-law for financial oversight of the activities of credit guarantee institutions, and 10) existence of several responsible institutions in credit guarantee system.

کلیدواژه‌ها [English]

  • Finance
  • knowledge economy
  • credit guarantee
  • technology-based firms
  • model
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