Providing a Model of Privatization with Emphasis on Financial and Non-financial Factors
الموضوعات :
Hojjat Ghasemi belevari
1
,
akbar kanani
2
,
Ibrahim Navidi Abbaspour
3
,
Hedar Mohammadzadeh Saltahe
4
1 - Department of Accounting,Marand Branch, Islamic Azad University,Marand, Iran.
2 - Department of Accounting, Marand Branch, Islamic Azad University,Marand, Iran
3 - Department of Accounting, Marand Branch, Islamic Azad University,Marand, Iran.
4 - Department of Accounting, Marand Branch, Islamic Azad University,Marand, Iran.
الکلمات المفتاحية: Financial factors, Non-financial factors, Privatization, Privatization components,
ملخص المقالة :
Objectives: This study analyzes the components of privatization, assigns weights to these components, and develops a privatization model based on financial and non-financial factors. Design/methodology/approach: The research employs purposeful, explanatory, and exploratory methods to identify privatization patterns. Utilizing the Delphi method and structural interpretive modeling, data was collected from existing literature and insights gathered from managers and policymakers in privatization organizations. Six criteria were established as key components of privatization: economic factors, financial and accounting criteria, political factors, promotion of the private sector, government performance, and cultural/public dimensions. A hierarchical approach was used to construct a tree structure for evaluating options based on these criteria. Expert Choice software was utilized to prioritize components and propose an optimal model.
Findings: The findings indicate that political factors ranked highest among the components, followed by economic factors, financial and accounting criteria, and promotion of the private sector at the second level. Government performance and cultural/public dimensions were rated at the third level.
Innovation: The results could significantly impact decision-making in the private sector by enhancing efficiency. By prioritizing key components of privatization, this research suggests potential changes to current decision-making practices within the privatization sector.
Barut, A., Citil, M., Ahmed, Z., Sinha, A., & Abbas, S. (2023). How do economic and financial factors influence green logistics? A comparative analysis of E7 and G7 nations. Environmental Science and Pollution Research, 30(1), 1011-1022.
Bonabi Qadim, R. (1402). Financial and non-financial factors affecting the financial health of companies admitted to the Tehran Stock Exchange, the first national conference on health promotion and legal and medical challenges facing it, Maragheh.
Fayaz, M.; Ebrahimi, b. (2016). Investigating the impact of privatization on financial performance and growth and learning of employees, a case study: Shahid Montazeri Power Plant, Isfahan, the second national conference on strategic service management 2016, Najaf Abad.
Furlanetto, F., Ravazzolo, F., & Sarferaz, S. (2019). Identification of financial factors in economic fluctuations. The Economic Journal, 129(617), 311-337.
Jandaghi Ardakani, F; Abdul Rahimian, M. (1402). Investigating the financial and non-financial factors affecting the decisions of stock exchange investors, the fifth national conference and the second international conference on new models of business management in unstable conditions, Tehran.
Kaiser, J., Haase, D., & Krueger, T. (2023). Collective payments for ecosystem services: a counterpart of commodification and privatization trends in nature conservation?. Ecology and Society, 28(1).
Larrabi, N.; Ain Abadi, J. (1401). Investigating the role of privatization in the performance of companies admitted to the Tehran Stock Exchange using the analysis of financial statements (Khuzestan Cement Factory), 8th International Conference on Management and Accounting Sciences, Tehran.
Liahmad, K. R., Utami, Y. P., & Sitompul, S. (2021). Financial factors and non-financial to financial distress insurance companies that are listed on the Indonesia Stock Exchange. Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 4(1), 1305-1312.
Maliki, S. (2022). Investigating the relationship between profit quality and company privatization, the 7th International Conference on Management, Accounting, Economics and Social Sciences, Hamadan.
Mehdizadeh Rostam, M.; Dehghan, H; Mahboubi Fard, M.; Bourangi, M. (1400). Examining the concepts and theories of privatization and global successes.
Mehri, A; Azizian Kohn, N; Mohammadi Angut, A. (2023). The effect of privatization and advertising on the income generation of sports clubs in Ardabil City, the first national sports science conference with the approach of public sports, Ardabil.
Mousavian, H; Faruzandeh, J. (1400). Evaluation of the effects of privatization on the financial performance and profitability of companies listed on the Tehran Stock Exchange, the first international conference on the leap of management, economics and accounting sciences, Sari.
Nuti, D. M. (2023). Mass privatization: costs and benefits of instant capitalism. In Collected Works of Domenico Mario Nuti, Volume I: Socialist Economic Systems and Transition (pp. 441-473). Cham: Springer International Publishing.
Radić, M., Ravasi, D., & Munir, K. (2021). Privatization: Implications of a shift from state to private ownership. Journal of Management, 47(6), 1596-1629.
Rostam Khani, H; Hasanlu, H. (2019). Investigating and estimating the impact of privatization on the financial performance of state-owned companies, the second national accounting, financial management and investment conference, Gorgan.
Starr, P. (2019). The new life of the liberal state: Privatization and the restructuring of state-society relations. In The political economy of public sector reform and privatization (pp. 22-54). Routledge.
Triebs, T. P., & Pollitt, M. G. (2019). Objectives and incentives: evidence from the privatization of Great Britain’s power plants. International Journal of Industrial Organization, 65, 1-29.
Zarenjad, M.; Davoudi, A. (2012). The impact of the privatization process on the productivity indicators and financial performance of the transferred companies, the second international conference on management, entrepreneurship and economic development, Qom.
