Faktor-Faktor Penentu Keberhasilan Pada Pembiayaan Infrastruktur Jalan Tol di Indonesia

Fauzan, Muhammad (2024) Faktor-Faktor Penentu Keberhasilan Pada Pembiayaan Infrastruktur Jalan Tol di Indonesia. Doctoral thesis, Institut Teknologi Sepuluh Nopember.

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Abstract

Ketidakcukupan infrastruktur menjadi menjadi salah satu kendala utama untuk melaksanakan bisnis di Indonesia. Pemerintah telah mengambil langkah-langkah secara progresif melaksanakan program-program terutama di bidang pendidikan, kesehatan, dan infrastruktur. Infrastruktur memfasilitasi kegiatan ekonomi dalam , meningkatkan produksi dan konsumsi, serta kapasitas produksi yang dapat menciptakan lapangan kerja yang lebih besar. Selain itu, penyediaan infrastruktur yang memadai terkait dengan sektor informasi dan teknologi adalah hal penting bagi suatu negara untuk tetap kompetitif. Namun dalam pelaksanaannya terdapat empat permasalahan yang menjadi isu dari pembiayaan infrastruktur di Indonesia yaitu (1) ketergantungan dana pembangunan infrastruktur pada APBN, (2) ketidakmampuan pendanaan pada awal operasi dan pendanaan jangka panjang, (3) keterbatasan perbankan pada periode plafon dan tenor pinjaman (4) ketidaksesuaian antara hasil kajian feasibility study (FS), termasuk proyeksi Internal Rate of Return (IRR), dengan realisasi proyek yang seringkali lebih rendah dari yang direncanakan. Oleh karena itu, sangat perlu dikembangkan Pemodelan Faktor Penentu Keberhasilan (CSF) untuk pembiayaan infrastruktur jalan tol di indonesia. Metode pengumpulan data menggunakan studi literatur dan survei. Target Responden adalah Badan Usaha Jalan Tol dan Stakeholders yang terlibat dalam proses pembangunan Jalan Tol. Analisis menggunakan metode Struktural Equation Modeling (SEM). Dari 9 (sembilan) CSF yang diteliti di dalam Penelitian ini, terdapat 7 (tujuh) CSF yang berpengaruh positif dan signifikan terhadap Kesuksesan Pembiayaan Infrastruktur Jalan Tol di Indonesia, yaitu: 1) Risk Analysis and Allocation; 2) Investment Analysis; 3) Debt Payment Mechanism; 4) Discounted Cash Flow; 5) Foreign Financing Issues; 6) Public-Sector Perspective dan 7) Financing Structure; sedangkan 2 (dua) CSF yaitu : 1) Creditor Control dan 2) Private-Sector Perspective tidak berpengaruh positif dan signifikan. Terdapat 3 (tiga) CSF yang paling berpengaruh dalam Kesuksesan Pembiayaan Infrastruktur Jalan Tol di Indonesia adalah: 1) Risk Analysis and Allocation; 2) Investment Analysis dan 3) Debt Payment Mechanism. Implikasi manajerial dari temuan ini penting bagi pembuat kebijakan dan praktisi dalam menyusun strategi pembiayaan dan pengembangan infrastruktur yang lebih efektif dan efisien di Indonesia.
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Insufficient infrastructure is one of the main obstacles to running a business in Indonesia. The government has taken progressive steps in implementing its programs, especially in the fields of education, health and infrastructure. Infrastructure facilitates economic activities on a large scale, increasing production and consumption, as well as production capacity which can create greater employment opportunities. In addition, providing adequate infrastructure related to the information and technology sector is important for a country to remain competitive. However, in its implementation there are four problems that are problems in infrastructure financing in Indonesia, namely (1) dependence of development infrastructure funds on the APBN, (2) financing at the start of operations and long-term funding, (3) banking restrictions on ceiling periods and loan tenors (4 ) discrepancies between the results of feasibility studies (FS), including Internal Rate of Return (IRR) projections, and project realization which is often lower than planned. Therefore, it is very necessary to develop Critical Success Factor (CSF) modeling for financing large-scale toll road infrastructure in Indonesia. Data collection methods use literature studies and surveys. The target respondents are toll road business entities and stakeholders involved in the toll road construction process. Analysis uses the Struktural Equation Modeling (SEM) method. Of the 9 (nine) CSFs examined in this research, there are 7 (seven) CSFs that have a positive and significant influence on the success of toll road infrastructure financing in Indonesia, namely: 1) Risk Analysis and Allocation; 2) Investment Analysis; 3) Debt Payment Mechanism; 4) Source of Financing ; 5) Foreign Funding Problems; 6) Public Sector Perspective and 7) Financing Structure; while 2 (two) CSFs, namely: 1) Creditor Control and 2) Private Sector Perspective do not have a positive and significant effect. There are 3 (three) CSFs that have the most influence on the success of toll road infrastructure financing in Indonesia, namely: 1) Risk Analysis and Allocation; 2) Investment Analysis and 3) Debt Payment Mechanism. The managerial implications of these findings are important for policy makers and practitioners in developing more effective and efficient infrastructure financing and development strategies in Indonesia.

Item Type:	Thesis (Doctoral)
Uncontrolled Keywords:	Critical Success Factors, Pembiayaan Infrastruktur Jalan Tol, Tol di Indonesia
Subjects:	H Social Sciences > HE Transportation and Communications > HE355.4 Toll roads H Social Sciences > HJ Public Finance
Divisions:	Interdisciplinary School of Management and Technology (SIMT) > 66105-Doctor of Technology Management (DMT)
Depositing User:	Muhammad Fauzan
Date Deposited:	15 Mar 2024 07:32
Last Modified:	15 Mar 2024 07:32
URI:	http://repository.its.ac.id/id/eprint/107816

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