Factors of Financial and Accounting Competitiveness Strategies in Tehran Stock Exchange Companies Using Total Interpretative Structural Interpretation (TISM)

Document Type : Research Paper

Authors

1 PhD Student, Department of Accounting, Shahroud Branch, Islamic Azad University, Shahroud, Iran

2 Assistant Professor Department of Accounting, Shahrood Branch, Islamic Azad University, Shahrood, Iran

3 Associate Professor, Department of Accounting, Shahrood Branch, Islamic Azad University, Shahrood, Iran

Abstract

Nowadays, corporate strategies are one of the prominent competitive tools of managers to strengthen the competitive position of companies. Considering the influence of functional, governance, and working capital in reaching competitive strategies and the use of systematic and innovative methods in the design of these strategies is inevitable. The purpose of this study is to explain the factors of financial and accounting competitiveness strategies in Tehran Stock Exchange companies, using Total Interpretative Structural Interpretation (TISM). The methodology of this research is descriptive due to data obtaining and practical due to its aims, and is a combination of extended analysis and Total Interpretative Structural Interpretation (TISM). In this two-phase, qualitative and quantitative study, at first ten elites of the scientific community of accounting participated in determining the checklist of related companies' competitive strategies. Accordingly, three functional, governmental, and working capital strategies were approved in 19 indexes and entered the Delphi analysis phase. In Delphi analysis, six indicators were also eliminated based on average criteria and agreement coefficient and the total indices in Delphi's second round were reduced to 13 indicators. Then, in the second part of the research, 30 participants of the stock market brokers and analysts participated in seven stages of TISM. The results showed that the three indicators, including increasing the volume of transactions as a functional strategy, strengthening the independence of the board of directors as a strategy of governance, and the efficiency of current liabilities as the strategy of working capital are the most effective indicators of the competitive strategies of companies. It was also found that the reduction of operational costs as the indicator of corporate performance strategy was the least effective factor in the company's competitive strategy.

Keywords

References

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Financial Management Strategy
Volume 9, Issue 4 - Serial Number 35
December 2021
Pages 149-174

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History

  • Receive Date: 06 May 2019
  • Revise Date: 04 September 2019
  • Accept Date: 02 September 2019

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