Identifying and Ranking Optimal Regulatory Indicators in Iran s Petrochemical Industry and Its Challenges

The regulatory phenomenon is a rather untouched issue especially in Iran’s petrochemical industry. This papers identifies the indicators of optimal regulatory and its challenges in this sector using the Delphi method. In this regard the related statistical tests were performed and the priority of each indicator as well as their challenges have been presented. The research findings indicate that proportion, responsiveness, financial independence, legal independence and political independence are the most important indicators that should be considered by the regulator. On the other hand, the most important challenging issues hurting the petrochemical industry were in fact the weakness of laws to attract foreign and domestic investors, lack of trust and lack of integration in the industry from upstream to downstream. Also the research results show that existence of two regulatory agencies is essential for this sector in Iran. The Competition Council in the physical market and the Securities and Exchange High Council in the financial market were considered as the two main governing and regulatory bodies for the petrochemical industry. However, the structure of these councils must be reformed before acting as regulators.

کلیدواژه ها:

Regulatory ، Indicators ، Ranking ، Petrochemical Industry ، Delphi.