Identification and Prioritization of Investors’ Decisions Regarding Financing in the Presence of Information Distortion

The primary objective of this study was to identify and prioritize investors’ decisions regarding financing in the presence of information distortion within the context of knowledge-based companies. The statistical population consisted of experts in the fields of finance, investment, and accounting. Using purposive sampling and the snowball sampling technique, 17 participants were selected based on criteria such as professional experience, educational background, and managerial expertise. In the qualitative phase, data were collected through semi-structured interviews and analyzed using thematic analysis. In total, 502 initial codes, 239 basic themes, 84 organizing themes, and 12 overarching themes were extracted. The overarching themes included dimensions such as information distortion in knowledge-based companies, transparency and education, performance improvement and trust, monitoring and control, and organizational and individual pressures. To validate the identified indicators, the fuzzy Delphi method was employed.