Investment analysis in privatization of National Iranian Drilling Company using systems dynamics and BWM technique

In this study, using system dynamics approaches and multi-criteria decision-making, the investment analysis in the privatization of the National Iranian Drilling Company is investigated. For this purpose, key variables and factors influencing identification privatization and causal relationships between these variables are plotted in two causal loop diagram, stock and flow diagram in systems dynamics approach. Then the results are simulated in Vensim software from 2018 to 2025 and various investment scenarios for privatization are investigated. Also, using multi-criteria decision-making approach based on BWM technique, investment priorities were identified in each dimension of EFQM empowerment. The results of the system dynamics approach show that all aspects of privatization don't have the same impact on firm performance. The results of the present study will also contribute to the development of research literature in the field of privatization, and the proposed approach of the article can be used as a tool in the hands of managers and government officials to show them where and on what basis they should start privatization. •A new integrated approach is proposed to analyze privatization in drilling industry.•The approach is based on systems dynamic and multi criteria decision making method.•The systems dynamic method is used to present a casual model of EFQM component.•The Best Worst Method is used to prioritize the investment in EFQM component.•Some strategies are proposed to manage privatization in Iranian drilling industry.