Document Type : Management and Economics Wood
Authors
1 Ph.D Candidate, Department of Wood and Paper Science and Technology, Karaj Branch, Islamic Azad University
2 Associate Prof., Department of Wood and Paper Science and Technology, Karaj Branch, Islamic Azad University
3 Professor, Department of Wood and Paper Science and Technology, Karaj Branch, Islamic Azad University
Abstract
Background and Objectives: The Covid-19 pandemic caused serious challenges to various industries of wooden products in various aspects such as access to raw material, supply chain, production and sales volume of product and even customer preferences. Therefore, this study aims to investigate the mediating role of government support in relation to revising some adopted policies such as investment strategies, creating resilience in industries and improving financial knowledge of managers of these industries in order to increase production of various wooden furniture products in the post-corona era was done.
Methodology: In terms of its nature, this research is fundamental-applied and in terms of the type of research, it is a part of mixed research including quantitative and qualitative variables.The study population consisted of 180 managers of home and office furniture manufacturing companies based in Tehran and Alborz provinces, from which 120 were selected through the Cochran formula. Field-library methods are used to collect preliminary information as needed, the main tool for collecting information for this research is a questionnaire approved by academic experts. The used questionnaire includes 22 questions related to research variables, including resilience, government support as a moderating variable, investment strategies, financial knowledge and production growth. Also, the scale used is a 5-point Likert scale. In this research, Cronbach's alpha coefficient, composite reliability and extracted average variance were used to determine the reliability and convergent validity of the questionnaire. In order to analyze the internal structure of the questionnaire and discover the constituent factors of each structure or variable, the confirmatory factor analysis tool was used. Also, to check and analyze the data, descriptive and inferential statistics were used using SPSS software, and to check the relationships between variables, structural equation method based on the use of Smart-Pls software was used.
Results: The results of correlation between the variables show that at a significance level of 1%, the highest correlation is between financial knowledge variables with investment strategies, and the lowest correlation is between government support variables with production growth. Also, the reliability check of the questionnaire shows that there is reliability and convergent validity in the questions. The results of examining the measurement model using confirmatory factor analysis show that the items of the model are correctly defined and it is not recommended to remove any of them, because the values of the factor loadings are higher than the minimum acceptable value, i.e. 0.3. This study showed that there is a positive and significant relationship between investment strategies, resilience and financial knowledge as independent variables and positive growth as a dependent variable. Research findings show that the government support component is also related to production growth. It has a positive and significant relationship. In relation to the role of government support as a mediating variable in the relationship between investment strategies, resilience and financial knowledge on production growth of wooden furniture industry, the results show an effective relationship. In all these research hypotheses, the significance level of the p-value test is less than 5% and the T value is outside the range (1.96, -1.96), so it is significant with a 95% confidence factor.
Conclusion: The results of this research revealed that in the post-corona era, wooden furniture industry may face new developments and changes. These changes can include changes in the needs and tastes of customers, the process of marketing and selling products, the use of environmentally friendly products, changes in the structure of companies and the necessity of creating industrial holdings, the necessity of using new technologies in production of various products in furniture industry and decoration, paying more attention to firm's internal structures to increase the level of resilience, using managers with extensive financial knowledge to deal with fluctuations of firm's financial assets. Also, in the post-corona era, government support for wooden furniture industries can play an important role in impact of investment strategies, resilience and financial knowledge on production growth of these industries.
Keywords
- Financial knowledge
- Investment strategies
- Resilience
- Government Support
- Production growth
- Wooden furniture industries
Main Subjects
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