Designing an Indigenous Strategic Bargaining Model to Enhance Financing Capacity in Large-Scale Industries

Koufigar, Ali; Masoumi, Shiba; Nabavi Chashmi, Seyed Ali

doi:10.25843/JIFM.2025.8563.22106

Designing an Indigenous Strategic Bargaining Model to Enhance Financing Capacity in Large-Scale Industries

Document Type : Original Article

Authors

Ali Koufigar ¹

Shiba Masoumi ²

Seyed Ali Nabavi chashmi ³

¹ Department of Business Administration, Bab.C., Islamic Azad University, Babol, Iran.

² Department of industrial management, Bab.C., Islamic Azad University, Babol, Iran.

³ Department of Financial Management, Bab.C., Islamic Azad University, Babol, Iran.

10.25843/JIFM.2025.8563.22106

Abstract

Financing in industrial and petrochemical companies, particularly under conditions of economic fluctuations, financial system constraints, sanctions, and extensive capital requirements, faces numerous challenges. In such circumstances, relying solely on conventional financing methods cannot address existing complexities, highlighting the necessity of employing strategic bargaining in interactions with banks, investors, and other financial resource providers. The present study aims to design and validate an indigenous strategic bargaining model for financing, focusing on the Persian Gulf Petrochemical Industries Company. The research adopts a mixed-methods approach with an exploratory sequential design. In the qualitative phase, using the Strauss and Corbin grounded theory approach, data obtained from 12 in-depth semi-structured interviews with experts in financing, financial management, and the petrochemical industry were analyzed. The analysis process included open, axial, and selective coding, which resulted in the identification of 151 final codes and the development of the research paradigm model. In the quantitative phase, the extracted model was validated using data from 108 questionnaires through structural equation modeling based on the partial least squares (PLS) approach in SmartPLS 3 software. The results indicated that the proposed model has satisfactory reliability, validity, and model fit, and all five research hypotheses were confirmed. The findings demonstrate that successful financing requires a combination of information management, creation of alternative options, risk management, cooperation and coalition building, and attention to environmental and institutional conditions. The proposed model can serve as a practical framework for improving financial negotiations and enhancing financing decision-making in the Persian Gulf Petrochemical Industries Company and similar industrial organizations.

Keywords

Strategic Bargaining

Financing

Grounded Theory

Structural Equation Modeling

Persian Gulf Petrochemical Industries Company

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