درخت حوزه‌های تخصصی

Companies have access to a variety of financial resources to implement available profitable investment projects, to settle overdue debts, to increase working capital, and to pay dividends to shareholders Correct decision making and the ability of companies to determine the appropriate financial resources are the main factors of company success. The effects of financing on the company's return and risk are the most important goals that management should pay attention to when choosing a financing method, and select resources that minimize financing costs. In this research, first, to identify financing methods and also the criteria for selecting the appropriate financing method, the fuzzy Delphi method has been used. Then, the AHP method was used to prioritize the parameters. The results of this study showed that the factors of efficiency, cost, sustainability, operationality, fairness, and transparency are the most important criteria for selecting financing methods in gas companies and also forming subsidiary consortia, receiving facilities, issuing participation bonds, creating an investing companies, presence in the stock market, creating a plan as a shareholder, have been identified as financing methods.

Iran, as the fifth country in the field of crude oil production and the second largest gas producer in the world, is apt to the growth and development of the petrochemical industry, as the largest exporter of non-oil products, has a significant role in economic prosperity. In this respect, considering the sanctions of recent years on the export of crude oil and the situations of selling crude oil, it is important to pay attention to this industry as an effective factor in circumventing the sanctions as well as currency appreciation. In this study, the factors affecting the supply of urea exports to the export destinations of the UAE, Turkey, China and India in the period 2001-2009 are examined and analyzed. According to the studies, the factors that have affected the supply of Iranian urea exports can be referred to as GDP of target countries, real exchange rate, exchange rate fluctuations, trade liberalization, price exchange relationship, refinery raw materials prices and sanctions as livestock variables. . In this study, the real exchange rate volatility index was estimated using the GARCH model and then the supply model of Iranian urea exports was estimated by ARDL pattern. According to studies, the variables of GDP and trade liberalization have a significant positive effect on the supply of Iran exports in the short and long term, but other variables have a significant negative effect on the supply of Iran exports in the short and long term.

Though it is generally accepted that information asymmetry has an impact on capital structure policy, the nature of the information asymmetry is not well understood. Recent theoretical works and empirical evidences suggest that financing choice depends upon the information asymmetry about investment risk of the particular use of funds (Halov & Heider, 2012) (Rao, Mohanty, & Baxamusa, 2015). Consistent with this view, we analyzed the data gathered among 199 companies listed in Tehran Stock Exchange during 2009-2016 by The Multiple Linear Regressions in order to test research’s hypotheses have been applied. We also examined the influence of Petrochemical industry on that relationship. The findings show that equity is used to fund projects with greater information asymmetry about their risk such as intangible assets and capital expenditure, while debt is used to fund investments with lower information asymmetry about their risk such as liquidity enhancement. We also found that the membership in petrochemical industry has no effect on the intangible assets and cash holding’s financing method, but concerning with capital expenditure and working capital the impact is significantly negative.

The purpose of this study is to compare stringency of and compliance with environmental requirements in upstream sector of oil and gas in law of Iran and the USA. This study is conducted using the inter-spinned mix method (qualitative – quantitative). In the qualitative part, library studies are used. In the quantitative part, the studied society is a group of six professionals in the field of oil and gas, who filled out a questionnaire consisted of 34 questions prepared by the Worley Parsons in a similar research approved by jurisdictions of ten countries. The questions are prepared by a team of experts with international experience. The components of stringency and compliance with law during the phases of approval, operation, and closure of a hydrocarbon project are studied using the Delphi method. At the level of stringency, the environmental assessment in the US is carried out with 10 times more human resources and 26 times more costs than in Iran. In the US, with 13 scores, it is more stringent than Iran with 5 scores. In the project closure phase, Iran does not put in place any obligations for rehabilitation and restoration. At the level of compliance, the Construction Environmental Management Plan (CEMP) is mandatory in both countries. In Iran, the list of violations and their consequences will not be published. The US regulatory mechanisms of restoration are an appropriate model. Totally, Iran gains 29 and the United States 42 scores. The recommendations are based on these two scores.

The research on the Markowitz model and optimization of its portfolio using a variety of evaluation indicators and meta-beta-algorithms has always been the focus of attention of accounting and finance researchers. The results of studies carried out by various types of optimization methods are different in the Markowitz modified models. The purpose of this study is to measure the optimal portfolio and its corresponding return, with respect to the portfolio in the traditional Markowitz model, as well as to compare the position of the refining and petrochemical companies versus stock market outperformers, through integrating the operational criteria and the new indicators of liquidity using the genetic algorithm in the Markowitz model. Therefore, financial data related to the research variables for 35 cases of TSE-listed refinery and petrochemical companies from 2012 to 2016 fiscal years were extracted from Rahavard Novin database software and simulated by the genetic algorithm. The results show that returns on the stock portfolio optimized using the genetic algorithm and without considering the liquidity limitations and filters have a significant and positive difference with the return on the stock portfolios optimized with regard to the liquidity limitations and filters. Furthermore, the application of liquidity limitations and filters in the formation of optimal stock portfolios leads to a conservative increase in the choice of stocks (portfolio formation), which leads to a reduction in the risk and return of investment in such portfolios.

Supply chains have experienced rapid growth in recent years. Focusing purely on economic performance to optimize costs or return on capital can no longer guarantee development or sustainability in the chain. Hence, the concepts of green SCM and SSCM emerged to emphasize the importance of social and environmental concerns along with economic factors in supply chain programming. Using the SD method and considering KM , this study investigates the variables related to this topic and the variables of sustainable supply chain management and it determines the relationships between these variables and their impact on the research purpose. To achieve this, first, previous studies are reviewed, and the relevant variables are extracted and finalized according to the experts. Next, SD modeling is designed and various scenarios are defined by changing the effective values of the system. Eventually, several policies are presented to achieve the optimal situation. The optimal values for the ten main influential variables are extracted according to the expert opinion and the effects shown in the model are determined by these changes.

In this research we try to investigate impact of Enterprise Resource Planning (ERP) implementation on the effectiveness of financial processes in PETROPARS Ltd as a case study in petroleum industry. In this regard, three indicators of Ahituv and Neumann model containing time, content, and format have been utilized to compare traditional systems used in PETROPARS Ltd before implementation of ERP/SAP system. For this purpose, four hypothesis related to financial processes were developed and data collected from 101 employees related to financial processes in PETROPARS Ltd. There were 10 research questions related to the three indicators of Ahituv and Neumann model. Research findings show that ERP/SAP implementation has a positive and significant impact on financial processes effectiveness compared to the traditional systems previously used (before ERP/SAP system) in PETROPARS Ltd. This research contributes to the body of knowledge for investigation and documentation of actual results of ERP implementation in the petroleum industry of Iran. A phenomenon that has not been previously touched.

Today for installations management in equipment-based industries, such as oil and gas industry, the physical asset management development based on the ISO-55000 requirements is generally the most common issue in the world and particularly in Iran. Since this standard only expresses the requirements, many physical asset management excellence models have been designed by researchers or research institutes around the world to develop and strengthen physical asset management. Therefore, due to the diversity of models, organizations face problems of choosing a suitable model. Based on this issue, the main purpose and innovation of this work is evaluating and prioritizing popular and sometimes reference physical asset management excellence models according to 6 critical criteria based on DEMATEL and ANP techniques. Cost, risk, performance, sustainability, simplicity, and knowledge were identified as the critical criteria. First, 4 criteria were taken from the ISO-55000, and 2 critical criteria were then identified through interviewing oil and gas experts. The approach of this research is quantitative, and the method of data collection is descriptive-survey. Uptime, Institute of Asset Management (IAM), life cycle engineering (LCE), and asset integrity management (AIM) models are the main popular and/or reference physical asset management excellence models in the world. The finding shows that the IAM, LCE, AIM, and uptime models are respectively prioritized based on these critical criteria. <strong>Keywords:</strong> Physical Asset Management Excellence Model, ISO-55000 Standard Series, DMATEL, ANP

Competitive advantages play a unique role in organizations' successes or failures because of customers' very speedy accessibility to suppliers and manufacturers. Indeed, this is competitive advantages which can make firms and organizations survive and grow in today's increasing competitive field attaining by creating and or improving their capabilities. The main goal of the study is to design a grounded theory model extracted from the transnational capabilities, but this required to explore the transnational capabilities aiming for the international markets entry. The statistical population of this qualitative research included experts and managers working in the steel pipe manufacturing companies of Iranian gas and oil industry. The data collected via interviews. The validity assured by counseling with the elites and university professors and the reliability verified by the Delphi technique. The findings revealed 496 open, 44 axial and 9 selective codes including: 1) Marketing, 2) Managerial, 3) Human Resources, 4) Financial, 5) Manufacturing, 6) Quality & Standards, 7) Research & Development 8) Logistics and 9) Interactions and counseling with the government. Finally, a new model extracted and represented from analysis of the axial coding process of the grounded theory. The model precisely clarified relationships among the components including casual conditions, context, actions/interactions (strategies), intervening conditions and consequences. Recognition of the relationships of the components will help better understanding of the capabilities. This will lead to attain the competitive advantages needed for successful entry into the international markets.

This paper aims to show the asymmetric effect of oil shocks on Iran’s economy. It uses nonlinear time series models to investigate the asymmetric effect of oil shocks on resource allocation in Iran’s economy. The results show that adverse oil shocks have been more persistent during the last decades and severely negatively affect resource allocation in Iran’s economy. Different oil shocks have different implications for importing and exporting countries, and the rigidity of state fiscal systems in exporting countries causes adverse oil shocks to be more persistent. The oil economy’s response to positive and negative oil shocks depends on the structure of the economy. The government budget and trade balance have significant implications for the effects of oil shocks on oil-exporting economies. The government budget is highly dependent on oil revenues, so in the case of adverse oil shocks, the pass-through exchange rate will cause high inflation because of foreign exchange shortage and overshoot in the exchange rate.