Accountability: Inovação Decisória na Avaliação de Investimento em Startups Accountability: Innovative Decision-Making in the Investment Assessment in Startups
Resumo
Este estudo objetiva identificar circunstâncias em accountability que favoreçam decisões a investimentos em startups. Trata-se de uma pesquisa aplicada a investidores atuantes no mercado venture capital, por meio de estudo de casos múltiplos, envolvendo dez empresas investidoras. A ideia é observar se os casos direcionam a resultados semelhantes, ou então por resultados contrários e previsíveis, buscando demonstrar se há alguma contraposição àquilo que se atribui em accountability e as decisões de investimentos em startups. Os estudos de casos ocorreram por meio de entrevistas semiestruturadas face ao nível de significância dos atributos constituídos, sendo estas compiladas e organizadas com emprego do software NVIVO11 e interpretadas com a técnica de análise de conteúdo. Constatou-se que, dentre 20 atributos inicialmente utilizados, apenas 8 apresentaram ser mais expressivos: A1, A2, A5, A6, A8, A9, A12 e A19. Já numa relação somente com atributos em accountability, A26 (formalidades contratuais) foi mais representativo. A investigação apontou que atributos como potencial de crescimento e tamanho da empresa, experiência e reputação dos empreendedores, montante do investimento e diferenciação do produto são determinantes no processo de análise. Conclui-se que no campo da complexidade e subjetividade nas avaliações e tomadas de decisão por parte de investidores em startups, os atributos objetivos se destacam como práxis pelos agentes financeiros, especialmente em virtude dos riscos inerentes.
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DOI: http://dx.doi.org/10.5380/rcc.v15i3.88935
