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首页> 外文期刊>International journal of entrepreneurial behaviour & research >Financing family firms in the Middle East: the choice between Islamic and conventional finance
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Financing family firms in the Middle East: the choice between Islamic and conventional finance

机译：中东家族企业的融资：伊斯兰金融与传统金融之间的选择

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PurposenThe purpose of this paper is to investigate the role of non-economic factors on the financing decisions of family firms in the Middle East. To contextualize the study, the authors steer away from the traditional capital structure debate toward the choice of financing paradigm: conventional vs Islamic.nDesign/methodology/approachnThis study uses Ajzens theory of planned behavior due to its ability to delineate the influence of non-economic motivational factors on the financing decisions of family firms. This study also examines the influence of familial stewardship (FS), another non-economic factor which is highly relevant in a collectivistic context. The authors initially use SEM with Amos to analyze 115 surveys of family firm owner-managers. For deeper probing, the authors undertook an additional post hoc qualitative analysis of six case studies using semi-structured interviews.nFindingsnThe findings of this study suggest that owner-managers attitude toward Islamic finance plays a primary motivational role in influencing their intentions to use it. More importantly, the findings depict a significant influence of FS and subjective norm on the attitudes of owner-managers. This implies that financing decisions which involve religious beliefs are directly influenced by the decision makers personal attitude, which, in turn, is significantly influenced by familial and social pressures.nOriginality/valuenThis study fills a gap in the family-firm financing literature by suggesting that when choosing religion-related financial products, attitude plays a far more significant role than other motivational factors. This study also contributes to the familiness area of research by empirically demonstrating that FS has a significant influence on owner-managers attitude toward financing choices.
机译：目的本文旨在研究非经济因素在中东家族企业融资决策中的作用。为了将研究背景化，作者将传统的资本结构辩论转向了传统的与伊斯兰的融资范式的选择。设计/方法论/方法本研究使用Ajzens的计划行为理论，因为它能够描述非经济影响。家族企业融资决策的动机因素。这项研究还研究了家族管理（FS）的影响，这是在集体主义背景下高度相关的另一个非经济因素。作者最初将SEM与Amos结合使用来分析115家家族企业所有者-经理的调查。为了进行更深入的研究，作者使用半结构化访谈对六个案例研究进行了事后定性分析。n研究结果发现，所有者-经理对伊斯兰金融的态度在影响其使用意图方面起着主要的激励作用。更重要的是，调查结果反映了财务管理和主观规范对所有者-经理态度的重大影响。这意味着涉及宗教信仰的筹资决策直接受到决策者个人态度的影响，而决策者的个人态度反过来又受到家庭和社会压力的显着影响。n原创性/价值该研究填补了家族企业融资文献中的空白，认为在选择与宗教有关的金融产品时，态度比其他动机因素要重要得多。这项研究还通过经验证明FS对所有者-经理对融资选择的态度有重大影响，从而为研究的家族性领域做出了贡献。

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