Quarterly Publication

Document Type : Original Article


1 Ph.D. Candidate, Department of Fnancial Management,Kish International Branch, Islamic Azad University, Kish island, Iran

2 Assistant Professor, Department of Management and Accounting, University of Tehran

3 Assistant Professor, Department of Accounting, Islamic Azad University, Tehran, South Tehran Branch, Iran


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


Main Subjects

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