Designing a Model of Financial Flexibility Functions for Industrial Infrastructure Development of Abadan Oil Refining Company

Financial flexibility plays a crucial role in enabling companies to maximize their expansion capabilities and adapt to unforeseen events and changes in a competitive market. The objective of this study was to design a model of financial flexibility for the development of industrial infrastructure in the Abadan Oil Refining Company. A synthetic and inductive-deductive approach was utilized, involving a panel of 12 financial management specialists and 18 managers and deputies from the company. The study employed Meta-synthesis and Delphi analysis to identify propositions regarding the functions of financial flexibility in industrial infrastructure development. Furthermore, Total Interpretive Structural Modeling was employed to determine the priority and effectiveness of these functions. The results revealed that the key factors contributing to financial flexibility in the Abadan Oil Refining Company were financial agility in industrial infrastructure development, the reduction of financial constraints in resource provision for infrastructure development, and the dynamic evaluation of infrastructure development plans. Notably, reducing financial constraints in resource provision emerged as a critical management function that enables companies to invest in industrial infrastructure without encountering financial limitations. The findings of this study shed light on the significance of financial flexibility in the context of industrial infrastructure development and provide a model that can be implemented in other companies to enhance their strategic development capacities. Moreover, the methodology employed in this study can be adopted in future research to explore various aspects of financial management and strategic planning across different industries