The Role of Financial Management on Productivity of the Refinery Case Study: Khangiran Gas Refinery of Iran

Abstract

This study evaluated the management strategy of Khangiran Gas Refinery of Iran for Financial Management and investigated the role of financial management on productivity. The respondents were ninety seven employees of Khangiran Gas Refinery. Survey questionnaire included 10 items with 5 point Likert scale was used in the study. Data was analyzed with using SPSS-19. Results showed the highest weighted mean was “the specified budget for any project was done in last years” with 3.84 mean score and verbal interpretation of “effective” while lowest mean was 3.51 with verbal interpretation of “effective” for the statement “Before doing any projects budget analysis is done carefully.” and  there was a significant relationship between the financial management and productivity of the refinery; therefore the increase of the financial management leads to the increase of the refinery productivity.