A comparative study of financial performance in Iranian refinery and petrochemical companies pre- and post-privatization

A comparative study of financial performance in Iranian refinery and petrochemical companies pre- and post-privatization

… Download …


Part of #A comparative study of financial performance in Iranian refinery and petrochemical companies pre- and post-privatization# :

Publishing year : 2015

Conference : Third International Conference on New Research in Management, Economics and Accounting

Number of pages : 8

Abstract: The results of the previous studies and the lack of empirical research on Iran's contradictory results have been reported in the past few years after the privatization process. The oil industry encouraged us to study the effects of privatization in this industry once more. This study attempts to assess the impact of privatization on the financial performance of Iranian petrochemical companies and refineries. For this purpose, the annual financial reports of 11 petrochemical companies and refineries that were listed by the stock market during the years 2007 to 2014 were studied. The results of hypothesis testing show that privatization, improved corporate net income, but in terms of return on assets, return on equity, days sales outstanding, debt ratio, and debt to equity ratios, there is no statistically significant difference between the performance of companies before and after transfer to the private sector. However, based on the descriptive statistics, the company's performance trends show improvement.