Innovation, Financing, and Behavior: The Influence of Cognitive Biases and Psychological Dynamics on Strategies for Accessing Innovative Resources — In Terms of Research Approaches

Abstract

This article explores the challenges of innovation financing for MoroccanSMEs, with a focus on the behavioral, cognitive, and social factorsthat influence investmentdecisions. The studydraws on theoriesfrombehavioral finance, entrepreneurship, and innovation management to analyze how cognitive biases (such as overconfidence and risk aversion), social influence, and personal motivations affect access to funding. It demonstratesthat, althoughMoroccanSMEsplay a vital role in the economy, they face both structural and behavioral obstacles in financingtheir innovative projects. However, enablerssuch as entrepreneurial confidence, financialresilience, and a supportiveinstitutionalenvironment can help mitigatethesebarriers. Our analysisalso highlights the importance of public policies in supporting innovation and offersrecommendations to improveSMEs' access to financing