Modeling Structural Relations of the Main Factors for Assessing the Risk of Investment in a Resistance Economy by Applying the Interpretative-Structural Modeling (ISM)

In recent years, the discussion of resistance economy has been brought to the country's economic literature by the Supreme Leader to confront the pressures and threats of the world arrogant front. The purpose of this issue is to achieve an endogenous, stable and resistant economic growth. Achieving such growth requires structures, one of which is the formation and development of virtue capital (VC) companies. Risky investments play a vital role in financing of knowledge-based companies, and knowledge-based companies are one of the main drivers of resistance economy. One of the obstacles to expanding the activities of venture capital companies is the lack of clarity of the risk assessment model of these types of activities. In this research, the relevant factors were identified by reviewing the research literature as well as the formation of a committee of 12 experts from the academic and experimental experts. Afterwards, by utilizing the interpretive-structural model, relations between the effective factors were analyzed. The result of the research showed that the 10 key risk factors of venture capital are related to each other at three different levels. Among identified factors entrepreneur character, management skills, industry related experience and product life cycle considered as the underlying factors in investment risk assessment that in the event of control, the risk of investment will be reduced to an appropriate extent.