Designing a Model of Investment Risk Factors in Public Sports: A Structural Equation Modeling Approach
Keywords:
Investment risk, public sport, structural equationsAbstract
The purpose of this study is to design a model of investment risk factors in public sports based on the structural equation modeling approach. In terms of research objective, this study is quantitative, and in terms of method, it is survey-based. The population consisted of investors in the public sports sector of East Azerbaijan Province. The statistical population was identified through a developed questionnaire, including approximately 710 individuals, and the statistical sample included investors in the field of public sports in East Azerbaijan Province who were selected through a simple random sampling method to complete the questionnaire. According to the Morgan table, 250 participants were chosen as the sample. The data collection tool in the quantitative section consisted of a researcher-made questionnaire with 67 items. According to the results obtained from the analysis of the questionnaire items, the causal factors influencing investment risk in public sports included human resources, managerial policymaking, macro-level planning, development of sports attractions, economic barriers, legal barriers, political barriers, and development of sports attractions. The contextual factors affecting investment risk in public sports included structural (software) factors, structural (hardware) factors, technical infrastructure, licensing, relative stability of policies and governing laws in society, bylaws and fundamental regulations, as well as local and foundational branding. The intervening factors influencing investment risk in public sports included systematic risk, unsystematic risk, public participation, and resources and equipment. All of these factors were confirmed.
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