Innovative Financing as a Mediator between Relational Engagement, Institutional Setup, and Financing Performance
Insights From Stakeholder Surveys in Indonesia’s Infrastructure Sector
Bibliographic Data
| ID | 22006492 |
|---|---|
| Authors | Pratomo Ismujatmika (0000-0001-9343-696X, Padjadjaran University, corresponding author), Yudi Azis (0000-0002-4093-7581, Padjadjaran University, Bandung, Indonesia), Azis Yudi (Padjadjaran University), Kurniawan Saefullah (0000-0002-3088-1078, Padjadjaran University), Andreas Wibowo (0000-0001-7367-395X, Parahyangan Catholic University), Anton Abdul Fatah (0000-0003-2976-295X, KU Leuven) |
| Year | 2025 |
| Volume | 15 |
| Issue | 4 |
| Publication date | 2025-10-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | SAGE Open (JOURNAL) |
| Journal identifiers | ISSN: 2158-2440 • E-ISSN: 2158-2440 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/21582440251401821 |
| OpenAlex | W7117452225 |
| Language | EN |
| References cited | 30 |
This study investigates the impact of relational engagement and institutional frameworks on the financing performance of infrastructure projects in Indonesia, with a particular focus on the mediating role of innovative financing mechanisms. Data were collected via a survey of 100 key stakeholders in the infrastructure sector and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings indicate that innovative financing significantly enhances financing performance, while robust institutional frameworks positively influence both the adoption of innovative financing and overall financing outcomes. Relational engagement emerges as a crucial factor, directly improving institutional conditions, fostering innovative financing strategies, and ultimately boosting financing performance. The study also uncovers several indirect effects: for example, institutional factors improve financing performance through their positive impact on innovative financing, and relational engagement indirectly enhances financing performance by strengthening institutional frameworks that support innovative financing mechanisms. These results underscore the dynamic interplay among stakeholder relationships, formal institutional structures, and financing innovations. The research provides practical recommendations for policymakers and infrastructure developers – notably, to strengthen stakeholder collaboration and develop effective institutional environments – in order to optimize infrastructure financing strategies and project outcomes
Innovative financing · Institutional theory · Stakeholder · Stakeholder engagement · Stakeholder Theory · Structural equation modeling · Survey data collection · Community Development and Social Impact · Construction Project Management and Performance · Public-Private Partnership Projects
A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance
Common method biases in behavioral research
Common Method Bias in PLS-SEM
Institutions, Institutional Change and Economic Performance
Infrastructure Public–Private Partnerships in the Developing World
Disaster Resiliency
Are public–private partnerships a healthy option? A systematic literature review
Stakeholder Involvement in Public–Private Partnerships
The Iron Cage Revisited
| Citation velocity | historical |
|---|---|
| Highly cited | No |