The influence of investor psychology on startup financing in Morocco
Keywords:
behavioural finance; decision-making; psychology; investors; start-upsAbstract
Over the past few decades, Morocco has seen a surge in innovative start-ups, driven by enterprising young people and growing institutional support. Yet, despite this dynamism, many investment opportunities remain untapped.
This article aims to explore the relationship between investor decision-making and the financing of Moroccan startups, focusing on the influence of psychological factors.
The chosen methodology combines a hypothetico-deductive approach with an abductive one. We conducted a quantitative study, based on a questionnaire administered to a sample of 120 potential and actual investors.
Exploratory factor analysis (via SPSS), followed by structural equation modeling (PLS method), highlighted the central role of cognitive biases, risk perception and informational uncertainty in investment decisions.
This research contributes to a better understanding of the psychological disincentives to investment, and suggests ways of improving the quality of decision-making and encouraging the financing of start-ups in Morocco.
JEL Classification: G41
Paper type: Empirical research
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Zineb MIHRAJ
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Copyright is held by the authors under this licence.
CC-BY-NC-ND.
Any work submitted that is suspected of being pirated or plagiarism is entirely the responsibility of the submitting author.
