Innovative Financing as a Mediator between Relational Engagement, Institutional Setup, and Financing Performance

Insights From Stakeholder Surveys in Indonesia’s Infrastructure Sector

Datos Bibliográficos

ID22006492
AutoresPratomo Ismujatmika (0000-0001-9343-696X, Padjadjaran University, autor de correspondencia), 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)
Año2025
Volumen15
Número4
Fecha de publicación2025-10-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaSAGE Open (JOURNAL)
Identificadores de la revistaISSN: 2158-2440 • E-ISSN: 2158-2440
EditorialSAGE Publications (PUBLISHER • US)
DOI10.1177/21582440251401821
OpenAlexW7117452225
IdiomaEN
Referencias citadas30

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