Identifying the Components of Complexity and Biases Cognitive Related to the Financial Decisions of Academic Entrepreneurs with the Qualitative Research Approach of Grand Theory

The purpose of this research was to identify the components of complexity and cognitive biases that are associated with the financial decisions of academic entrepreneurs. The research method with a qualitative approach and using the data-derived theory method has investigated the most significant components of complexity and bias among the financial decisions of academic entrepreneurs at the University of Tehran. The study population consisted of all university entrepreneurs at Tehran University in 2023. Sixteen of them were selected in a purposeful and snowball manner. In-depth interviews were conducted based on the principle of saturation, and 132 codes were identified using the MaxQuda qualitative software. The results indicated that the following sub-components were identified: “Differentiation,” “Integration,” “Complexity of conditions and financial decision process,” “Overconfidence and optimism,” “Availability,” “Effectiveness,” “Anchoring,” “Adjustment,” “Program error,” and “Illusion and concentration of control of financial issues.” Additionally, the primary components of “financial cognitive complexity” and “intellectual and cerebral bias” have been identified and presented through the combination and categorization of the sub-components. As a result of their success or failure, university entrepreneurs make financial decisions based on these complications and biases.