Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Implementing Toll Road Infrastructure Financing in Indonesia: Critical Success Factors from the Perspective of Toll Road Companies

Version 1 : Received: 30 August 2023 / Approved: 31 August 2023 / Online: 1 September 2023 (13:34:40 CEST)

A peer-reviewed article of this Preprint also exists.

Fauzan, M.; Kuswanto, H.; Utomo, C. Implementing Toll Road Infrastructure Financing in Indonesia: Critical Success Factors from the Perspective of Toll Road Companies. Int. J. Financial Stud. 2023, 11, 135. Fauzan, M.; Kuswanto, H.; Utomo, C. Implementing Toll Road Infrastructure Financing in Indonesia: Critical Success Factors from the Perspective of Toll Road Companies. Int. J. Financial Stud. 2023, 11, 135.

Abstract

Having effective and efficient financing is one of the most important steps in accelerating the development of public infrastructure, including toll roads. This study aims to identify Critical Success Factors (CSFs) for the implementation of toll infrastructure financing in Indonesia. Thirty-three CSFs have been identified from literature review. A Delphi survey involving a panel of experts working in the infrastructure industry was conducted. Based on the survey, it is known that internal rate of return, affordability, investment decision, commercial banks, financing costs, interest rate risk, control of cash flow, contract scope, and principles of risk transfer are important factors for the implementation of toll infrastructure financing in Indonesia. This study fills research gaps by developing a CSF model for successful toll road infrastructure financing in Indonesian PPPs, considering private perspectives and aiming to provide insights for investors and enhance understanding of country profiles in developing countries. The focus on toll road implementation in Indonesia contributes to a comprehensive understanding of CSFs for PPPs in the country.

Keywords

Critical Success Factors; Financing Implementation; Indonesia Toll Roads; Business Entity Perspective

Subject

Business, Economics and Management, Finance

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