Asset Management Research Articles

A CONCEPTUAL GOVERNANCE FRAMEWORK FOR NON-PERFORMING DISTRICT MUNICIPALITIES IN SOUTH AFRICA

Municipalities are an essential sphere of government, as they provide basic services to local citizens. They are expected to function optimally to meet this mandate. However, due to challenges with governance, the performance of most mu-nicipalities in South Africa is disappointing. To improve their performance, and address the governance challenges, this study proposes a conceptual governance framework for these non-performing municipalities in South Africa. The Delphi Technique was implemented to obtain views from municipal governance experts on measures that could become the cornerstones of a framework with a view to improving the performance of these municipalities. The results obtained indicate that the conceptual governance framework needs to focus on leadership as one cornerstone of governance, to be followed by strengthening the financial management unit and its personnel, the supply chain management unit and its personnel, and the asset management unit and its personnel. This was achieved from the responses obtained through engagement with municipal governance experts, which indicated the appointment of suitably qualified and experienced individuals as key measures for improving governance in district municipalities. The proposed governance framework could be used by district municipalities as a point of reference towards effective and efficient governance performance.

Asset Management Practices of Construction Companies in Batangas Province, ‎Philippines

This study aimed to assess the asset management practices of construction companies registered under the Philippine ‎Construction Accreditation Board (PCAB) in Batangas Province. The assessment focused on four key stages: business case, ‎create or acquire, operate and maintain, and dispose of or replace. Company profiles were considered in terms of business ‎ownership, classification, number of employees, asset size, and license category. A descriptive research design was employed ‎using survey questionnaires and expert consultations. Respondents were fixed asset accountants or, when unavailable, ‎managers knowledgeable in asset management. To determine significant differences in practices based on company profiles, ‎the Kruskal-Wallis H-Test, a non-parametric statistical tool, was utilized. Results showed that most respondents were ‎corporations (48.4%) engaged in general engineering services (52.4%), with 100 to 300 employees (29.8% and 27.4% ‎respectively), asset sizes ranging from ₱30 million to ₱60 million (38.7%), and License B accreditation (29%). Among the ‎asset management practices, the top activities included conducting long-term planning and investment summary analysis under ‎business case (mean = 2.96), acquiring assets in bulk under create or acquire (mean = 3.76), conducting annual inventory ‎counts under operate and maintain (mean = 3.52), and disposing of completely damaged fixed assets under dispose or replace ‎‎(mean = 3.69). Significant differences were observed in most asset management practices when grouped according to ‎company profiles, except for disposal practices, which showed no significant difference based on company classification. Based ‎on these findings, a strategic policy framework was proposed to enhance asset management practices in construction firms‎.

Structural implications and management of infrastructure assets affected by ISR: Example of French experience on road bridges.

Several hundreds of bridges and civil structures in France have been recognized as affected by internal swelling reactions (ISR), some of them being critical. This comprises alkali-silica reaction (ASR) cases, the number of which has been stabilized for more than thirty years through recommendations having now gained status of standards, and delayed ettringite formation (DEF)-affected massive structures or precast elements, still in an increasing number. Management of ISR-affected road bridges has deserved guidelines published in 2003, which have proven effective until now with limited updates. For optimal maintenance funds allocation, priorities in investigations for diagnosis have been précised. First actions have to be based on cracking index and overall deformation surveys, leading to subsequent bridge state rating. Then both monitoring requirements, and numerical reassessment needs and methods have been clarified. Experience in mitigating and repair techniques has been collected. Reliability in prognosis still deserves research efforts, detailed in this paper.

MENGUKUR TINGKAT KESEHATAN KEUANGAN PT WIJAYA KARYA (PERSERO) TBK. BERDASARKAN KEPUTUSAN MENTRI BUMN NO KEP-100/MBU/2002

This study aims to measure the financial performance of PT Wijaya Karya (Persero) Tbk during the 2021–2023 period using financial ratio analysis as an evaluation tool. Secondary data obtained from annual financial reports was used to calculate and analyze various ratios, including liquidity, solvency, profitability, and activity ratios. The methodology applied included calculating the cash ratio, net profit margin, return on assets, and other ratios to provide a comprehensive overview of asset management efficiency and the company's ability to meet short-term obligations. The results of the study indicate a downward trend in several performance indicators, particularly profitability and liquidity, reflecting operational pressures in 2023 compared to the previous period. These findings provide a comprehensive overview of the company's financial condition and indicate the need for adjustments to its financial management strategy to improve stability and competitiveness in the future.

STRATEGI MITIGASI RISIKO KEUANGAN DALAM MENINGKATKAN STABILITAS PERUSAHAAN DI ERA DIGITAL (PT. UNILEVER INDONESIA Tbk.)

The rapid development of digital technology has had a significant impact on global business dynamics, including the financial stability of companies. This study aims to analyze the effectiveness of financial risk mitigation strategies in enhancing the financial stability of PT Unilever Indonesia Tbk amidst the challenges of the digital era. The method used is a descriptive quantitative approach with secondary data analysis sourced from the company’s financial statements for the period 2022 to 2024. The financial stability indicators analyzed include Debt to Equity Ratio (DER), Current Ratio (CR), and Return on Assets (ROA). The results show that the risk mitigation strategies implemented by the company have produced mixed outcomes. In 2023, the company managed to curb the increase in liabilities. However, in 2024, reliance on debt rose sharply, as reflected in the DER which increased to 6.47. In terms of liquidity, the decline in the CR to 0.45 indicates that the cash and current asset management strategies were not optimal. Additionally, the decrease in ROA to 20.9% reflects reduced efficiency in utilizing assets to generate profits. These findings are consistent with financial risk management theory, which states that excessive reliance on debt increases solvency and liquidity risks.This study recommends that the company undertake funding restructuring, strengthen cash management, expand income diversification, enhance risk protection through hedging, and maximize digital investment not only for efficiency but also for innovation and growth. Keywords: Financial risk, financial stability, Debt to Equity Ratio (DER), Current Ratio (CR), Return on Assets (ROA), mitigation strategy, digital era.

A Comparative Performance Analysis of Hybrid Mutual Fund Schemes: A Study of HDFC and Axis Mutual Funds in India

This study aims to evaluate and compare the performance of selected hybrid mutual fund schemes offered by HDFC Asset Management Company and Axis Mutual Fund, two prominent players in the Indian mutual fund industry. Hybrid mutual funds, which invest in a mix of equity and debt instruments, are increasingly favored by investors seeking balanced risk-return profiles. Using secondary data, the study analyzes various performance metrics such as NAV growth, Sharpe Ratio, Beta, Alpha, Treynor Ratio, and SIP returns over multiple time horizons. The findings reveal that HDFC mutual funds consistently outperform Axis funds across several parameters, including average returns, risk-adjusted returns, and long-term SIP performance. Notably, HDFC Balanced Advantage Fund and HDFC Multi Asset Fund demonstrate superior long-term capital appreciation and risk management. In contrast, Axis funds generally underperform, particularly in the Arbitrage and Equity Savings categories. The study concludes that HDFC hybrid funds offer better investment opportunities for a range of investor risk profiles, highlighting the importance of empirical evaluation in mutual fund selection.

A Comprehensive Study of Financial Modelling for JP Morgan chase

This project presents a comprehensive study of financial modelling techniques as applied to JPMorgan Chase, one of the largest and most influential financial institutions in the world. Financial modelling is a critical tool used for forecasting a company’s financial performance, making strategic decisions, and evaluating investment opportunities. The objective of this study is to understand how financial models are structured and utilized within the context of JPMorgan Chase’s complex operations, which span investment banking, asset management, retail banking, and other financial services. The study involves the construction and analysis of key financial models including income statements, balance sheets, and cash flow projections using real-world financial data from JPMorgan Chase.

Exploring the application of heritage building information modelling (HBIM) for heritage conservation: insights from industry practitioners

ABSTRACT Heritage or Historic BIM (HBIM), a specialised application of Building Information Modelling (BIM) for the preservation and management of historic buildings, offers transformational opportunities for the heritage conservation sectors. However, this has not been fully explored, with HBIM applications mostly used as mere archival documentation for heritage architecture. As such, this study proposes to investigate the opportunities and challenges in adopting HBIM in preserving and managing heritage buildings. The study adopts a qualitative research strategy comprising literature review and expert interviews to explore the perspective of heritage conservation stakeholders on HBIM. The collected data were analysed using thematic analysis to identify the current state of HBIM adoption, its benefits, and its challenges. Findings reveal that while HBIM offers significant opportunities, such as improved archival documentation, visualisation, and maintenance planning, its adoption remains limited due to high costs, lack of expertise, and resistance to new technologies. This study acts as a reference point illuminating the need for increased awareness, training, and investment in HBIM to fully harness its potential, positioning it as a crucial tool for the sustainable management of heritage assets. This study originality is in its primary focus on HBIM, an application that has been under explored unlike BIM.

Development of the Evaluation Index System in Internal Governance Ability of Social Sports Associations in Guangdong Province

Background and Aim: As a major sports province in China, Guangdong Province has always attached great importance to the development of sports and actively responded to the national policy deployment. Through the research on the internal governance of provincial social sports associations in Guangdong Province, the internal governance evaluation index system is established it is beneficial to the comprehensive development of social sports associations and better service for the national fitness cause, but it also conducive to the government to timely understand the current situation of social associations, more reasonable allocation of resources, overall layout. The objective of this research was to develop the evaluation index system for the internal governance ability of social sports associations in Guangdong Province. Materials and Methods: In this research, the sample group consisted of 65 Guangdong Provincial social sports associations. A literature review, questionnaire, and interviews with seven experts were conducted to investigate the current situation of the internal governance ability of social sports associations in Guangdong Province. Based on the current situation, the researcher would draft the Delphi question framework. After that, 19 experts were invited to conduct the Delphi consensus. After three rounds of Delphi consensus, the evaluation index of the internal governance ability of social sports associations was formulated. Then, seven experts were invited to perform the connoisseurship to evaluate and revise the indicator system. Finally, by conducting an on-site investigation of 15 social sports associations in Guangdong Province, the actual operation of the index system is verified, and the development status of social sports associations in Guangdong Province is preliminarily judged according to the index system. The mean, standard deviation, median, and interquartile range were used to analyze the data. Results: The evaluation index system of the internal governance ability of social sports associations consists of 5 first-level indicators, respectively: Institutional Framework, Human Resource Management, Financial Asset Management, Archive Seal Management, and Development Planning. These indicators include 18 second-level indicators and also includes 39 third-level indicators. Conclusion: The internal governance evaluation index system of social sports associations that has been established has played a positive role in improving the governance level of associations and promoting the development of social sports undertakings. In the future, we will continue to listen to the opinions and suggestions of experts and constantly optimize and improve the index system to better adapt to the needs and challenges of the development of the association and promote the long-term, comprehensive, and orderly development of the social sports association.

Pengaruh Likuiditas, Solvabilitas, dan Aktivitas terhadap Kinerja Keuangan PT Unilever Indonesia Tbk yang Terdaftar di Bei Periode 2020–2024

This study aims to analyze the effect of liquidity ratio (Current Ratio), solvency (Debt to Equity Ratio), and activity (Total Assets Turnover) on financial performance measured by Return on Assets (ROA) at PT Unilever Indonesia Tbk during the period 2020–2024. The company was selected as the subject of this study because it is one of the major players in the Fast Moving Consumer Goods (FMCG) industry, which faces market dynamics and global economic challenges. The method used is a descriptive quantitative approach with multiple linear regression analysis techniques. The data analyzed were obtained from the company's annual financial reports and processed using SPSS version 29. The research results indicate that the Current Ratio (CR) variable does not have a significant effect on ROA, suggesting that high liquidity does not necessarily directly enhance profitability. Conversely, the Debt to Equity Ratio (DER) and Total Assets Turnover (TATO) have a positive and significant effect on ROA. This indicates that an efficient capital structure and productive asset management contribute significantly to improving the company's financial performance. Simultaneously, all three variables were found to have a significant effect on ROA. This study has important implications for company management in making strategic financial decisions focused on strengthening operational efficiency and optimizing capital structure management.

Analisis Pengelolaan Akuntansi Aset Tetap Berdasarkan PSAP 07 pada Badan Penanggulangan Bencana Daerah (BPBD) Kota Tanjung Balai

The purpose of this study was to determine the causes of fixed asset management at the Tanjung Balai City Regional Disaster Management Agency which was not in accordance with PSAP 07 and to determine the management of the granting of fixed asset usage rights according to PSAP 07. The data collection techniques used in this study were interview and documentation techniques. This study used descriptive qualitative research. The results of the study indicate that fixed asset accounting at the Tanjung Balai City BPBD has not been fully implemented and in accordance with PSAP 07. This is evidenced by the land owned not being intended for sale but rather used for agencies, as well as vehicles. The lack of transparency of fixed asset data for 2019-2023 makes these fixed assets one of the problems that are not in accordance with PSAP 07. And there is an error in recognition in the maintenance of fixed assets in the form of rubber boats and motorbikes, so that these assets are damaged, this is because the lack of budget is the cause of the absence of a maintenance budget which can result in damage to these assets.

DETERMINANTS OF RETURN ON EQUITY: A COMPARATIVE STUDY OF BANK MANDIRI, BNI, AND BTN USING A PANEL DATA MODEL APPROACH

This study aims to analyze the determinants of Return on Equity (ROE) as a measure of profitability in three state-owned banks in Indonesia: Bank Mandiri, BNI, and BTN. The independent variables used in this research include Net Profit Margin (NPM), Total Asset Turnover (TATO), interest rate, and Operating Expenses to Operating Income ratio (BOPO). The study employs secondary data derived from annual financial statements covering the 2015–2024 period. The analysis was conducted using panel data regression with the Random Effect Model (REM), selected based on the results of the Chow and Hausman tests, and processed using the EViews 12 statistical software.The findings reveal that NPM and TATO have a positive and significant effect on ROE. Specifically, a 1% increase in NPM increases ROE by 0.42%, while a one-time increase in TATO improves ROE by 0.15%. Conversely, both BOPO and interest rate exhibit a significant negative effect on ROE, with a 1% increase in BOPO reducing ROE by 0.28% and a 1% increase in interest rate decreasing ROE by 0.21%.The comparative analysis shows that Bank Mandiri recorded the highest average ROE during the study period at 22.8%, followed by BNI at 15.4% and BTN at 9.6%. These results highlight differences in operational efficiency, asset management strategies, and responsiveness to external macroeconomic factors among the three banks. This study is expected to provide practical insights for the formulation of profitability and efficiency enhancement strategies for state-owned banks, as well as serve as a reference for regulators and investors in addressing challenges within the evolving financial and digital landscape.

Before, During, and After the Covid-19 Pandemic (2018–2023), the Creditability of Stock Returns

This research examines the relationship between stock returns and the financial performance of State-Owned Enterprises (BUMN) listed on the Indonesia Stock Exchange (IDX) before, during, and after the Covid-19 epidemic (2018–2019, 2020–2021, and 2022–2023). Financial performance indicators are the return on invested capital (ROIC), earnings per share (EPS), working capital turnover, total asset turnover, cash ratio, debt-to-equity Ratio, debt-to-asset Ratio, Current Ratio, and cash ratio. The study's primary sources are BUMN's annual financial reports and stock price data. A multiple linear regression model examined the connection between stock returns and financial performance. According to the findings, the variables influencing stock returns varied throughout time. Before the pandemic, cash ratio and earnings per share (EPS) significantly enhanced stock returns, reflecting investor attention to liquidity and profitability during economic stability. During the pandemic, total asset turnover emerged as the key variable impacting stock returns, emphasizing the necessity for efficient asset management amidst economic uncertainty. After the pandemic, earnings per share (EPS) and return on invested capital (ROIC) became the most influential factors, indicating investors' focus on profitability and the ability to generate investment returns. The study concludes that the COVID-19 epidemic has significantly impacted the correlation between stock returns and financial performance. These results provide corporate management and investors with important information for creating flexible financial plans that adjust to shifting market conditions.

Perencanaan Arsitektur Enterprise SI/TI pada SMA Negeri 1 Purwoasri Kediri menggunakan Kerangka TOGAF

Digital transformation in the education sector requires institutions such as SMA Negeri 1 Purwoasri Kediri to adopt a structured and strategic approach in managing Information Systems and Information Technology (IS/IT). Fragmented systems, duplicated data, and inefficient services have become major challenges that hinder optimal performance and service delivery. This study aims to design an Enterprise Architecture (EA) using the TOGAF Architecture Development Method (ADM) framework to address these issues comprehensively. The research method combines observation, Focus Group Discussions (FGDs), and a structured analysis through TOGAF ADM phases—Preliminary, Architecture Vision, Business Architecture, Information Systems Architecture, and Technology Architecture. An evaluation of the institution’s current IS/IT condition was conducted using the EA Capability Maturity Model (EA-CMM) Scorecard. The results indicate that the school has a relatively strong foundation in IT governance (level 4/Managed), but still shows limitations in methodology usage, supporting tools, and human resource competencies, with an average score of 2.71 (Under Development). Business process mapping identified several priority systems, including student admission (PPDB), e-report cards, and digital libraries, alongside supporting systems such as inventory and asset management. The overall system effectiveness rate is 72.5%, these findings align with previous studies highlighting the urgency of integrated systems in schools. The study provides practical implications, including recommendations for phased implementation of EA, continuous training for human resources, and the development of an embedded EA model tailored to the needs and conditions of secondary educational institutions, ensuring sustainability and adaptability in the long term.

Development of Management Accounting System Model for Universities Based on Open Digital Architecture

Relevance. Today, universities are equipped with a large number of modern telecommunications and IT equipment, and other material assets. The university needs to manage the life cycle of all material assets. The purpose of the research is to improve the efficiency of university asset management by developing an AMS (Asset Management System) based on an open digital architecture (ODA), which eliminates gaps in the automation of accounting and analysis processes. The growth of data volumes and the need for integration with IT infrastructure underscore the relevance of developing flexible digital solutions. Research methods: Object-oriented analysis, conceptual modeling, and design based on microservices architecture and ODA standards were applied. Results. An AMS system was developed, including functional modules for automating equipment write-offs, generating inventory numbers, and analytics. The system integrates via API using ODA-components (TMFC014, TMFC039, etc.), ensuring flexibility and scalability.For the first time, an approach to decomposing AMS into ODA-components is proposed, enhancing resource management efficiency and process automation. The work demonstrates the dependence of system flexibility on the application of ODA and creates a foundation for further scaling.The theoretical significance is determined by the development of a system model on the latest ODA framework, and the practical significance is that the proposed result can be practically used to develop specific AMS solutions.

A comprehensive decision-making approach: evaluating and managing risks associated with emerging technologies – a LineDrone technology case study

The primary objective of this paper is to conduct an exploratory, qualitative study in Industrial Asset Management, focusing on the development of an Integrated Decision-Making Framework. This framework is designed to evaluate performance variability caused by emerging technology risks and extreme, rare, and disruptive events. To achieve this, we integrate two robust decision-support tools: the Functional Resonance Analysis Method (FRAM) and the System-Theoretic Process Analysis (STPA). FRAM provides a comprehensive analysis of sociotechnical system functions, highlighting their interconnections and dependencies. In contrast, STPA, based on the System-Theoretic Accident Model and Processes (STAMP), takes a top-down approach to hazard assessment. The integration of FRAM and STPA aims to create a powerful decision-support framework. A case study on the LineDrone, which inspects high-voltage transmission lines without direct human interaction, demonstrates the framework's effectiveness in managing performance variability within complex sociotechnical environments.

Analisis Pengelolaan Dana Bantuan Operasional Kesehatan (BOK) di Puskesmas Babo Kabupaten Teluk Bintuni

The main issue addressed in this study concerns the management of Bantuan Operasional Kesehatan (BOK) funds at Babo Community Health Center (Puskesmas Babo), Teluk Bintuni Regency, which are provided by the central government to support improvements in basic health services in accordance with the Minimum Service Standards (SPM). This study aims to analyze the BOK fund management process, encompassing the stages of planning, implementation, recording, and reporting. A qualitative approach was employed, utilizing data collection techniques including direct observation, in-depth interviews with key informants, and document analysis. The findings reveal that BOK fund management begins with the preparation of the Activity Proposal Plan (RUK), which is finalized into the Activity Implementation Plan (RPK) through a joint review process with the District Health Office and the Ministry of Health. Upon approval, fund disbursement follows the Fund Withdrawal Plan (RPD), verified by the District Health Office and the Regional Financial and Asset Management Agency (BPKAD). Financial transactions are systematically recorded, and reporting is carried out based on disbursement stages and coordinated with the District Health Office. The study concludes that BOK fund management at Puskesmas Babo has been implemented adequately, with appropriate targeting and alignment to health service priorities. The findings imply that transparent and accountable BOK fund management contributes to improved access and quality of basic health services and may serve as a replicable model for other community health centers.

PENGARUH PENGETAHUAN PERPAJAKAN, SOSIALISASI PERPAJAKAN, SANKSI PERPAJAKAN, DAN PENDAPATAN MASYARAKAT TERHADAP KEPATUHAN WAJIB PAJAK DALAM MEMBAYAR PAJAK BUMI DAN BANGUNAN PERDESAAN DAN PERKOTAAN (PBB-P2) DI KOTA BANJARMASIN

This study aims to test and analyze the effect of taxation knowledge, taxation socialization, tax sanctions, and community income on the dependent variable, namely Taxpayer Compliance in Paying Rural and Urban Land and Building Tax (PBB-P2) in Banjarmasin City. This research applies the probability sampling method with calculations using the Slovin formula. Data were collected through questionnaires. This type of research uses primary data, which is information obtained directly from the first source. The research population includes land and building taxpayers in the rural and urban sectors registered at the Banjarmasin City Financial, Revenue and Asset Management Agency (BPKPAD), with a total of 209,601 PBB-P2 taxpayers recorded. The sample in the study amounted to 400 taxpayer respondents. The analysis method used in this study is multiple linear regression using the IBM SPSS version 26 application. The results of this study indicate that tax knowledge, tax socialization, tax sanctions, and community income have a significant effect on taxpayer compliance in paying PBB-P2 in Banjarmasin City.

Emerging Trends in Industrial IoT: Shaping the Future of Smart Manufacturing

The Industrial Internet of Things (IIoT) is significantly reshaping manufacturing and industrial sectors by increasing operational efficiency, driving innovation and promoting sustainable practices. This abstract highlight critical emerging trends within the IIoT that are impacting the future of smart manufacturing. Key innovations include the adoption of advanced edge computing that supports real-time data analysis; the use of artificial intelligence (AI) and machine learning (ML) for better predictive capabilities and process automation; and the introduction of 5G technology, which enables seamless connectivity between devices. Additionally, the growing use of digital twins is changing asset management and operational transparency by generating virtual models of real-world systems. However, the landscape is not without challenges; challenges related to cybersecurity, interoperability and workforce skills shortages persist, highlighting the need for comprehensive implementation strategies

Protection and Active Utilisation of Cultural Heritage of Tunisia

ABSTRACT This study examines the intersection of digital preservation technologies and cultural heritage conservation in the context of accelerating globalisation. The research reviews existing literature on heritage site management, focusing on the integration of modern accessibility requirements with preservation needs. Through analysis of infrastructure and visitor engagement patterns at various heritage sites, the study explores the potential of digital technologies, including virtual reality and interactive installations, in enhancing historical interpretation and visitor experience. The investigation particularly addresses the challenges of balancing preservation with accessibility in both urban and rural contexts, with special attention to desert locations. The research methodology involves evaluating existing solutions and infrastructure systems, specifically examining their application in Tunisia’s cultural heritage sites. The study emphasises the role of service design and digital technologies in developing comprehensive preservation strategies, aiming to contribute to the sustainable management of cultural heritage assets while maintaining their authenticity and accessibility.