Construction Companies In Indonesia Research Articles

Pengaruh Ekonomi Makro, Harga Minyak Dunia, dan Rasio Keuangan terhadap Harga Saham pada Perusahaan Konstruksi di Indonesia

This research investigates the influence of macroeconomic and internal company factors on the share prices of construction companies in Indonesia. Through analysis of 111 observations of public companies from 2012 to 2021, this research finds that GDP growth has a significant positive influence on stock prices, with every 1% increase in GDP increasing stock prices by 10.76%. This shows that improving economic conditions increases construction companies' performance expectations. Inflation positively affects stock prices, with every 1% increase increasing stock prices by 9.87%. On the other hand, increases in interest rates and exchange rates have a negative impact, with every 1% increase reducing stock prices by 0.76% and 3.67%, respectively. The study also revealed that rising oil prices reduce stock prices by 0.77% for every 1% increase, indicating the negative impact of oil price fluctuations. Internal company factors such as ROE and DER are also influenced, where every 1% increase in ROE increases share prices by 2.08%, while a 1% increase in DER reduces share prices by 0.33%. These findings provide important insights into how macroeconomic and internal company financial factors influence share prices in the Indonesian construction sector, guiding investors and companies in making strategic decisions, especially in the construction sector.

FINANCIAL STATEMENT INTEGRITY: THE ROLE OF AUDIT TENURE, KAP SIZE, AND AUDIT FEE

This study aims to determine and analyze the impact of audit tenure, the size of KAP, and audit fees. The purpose of this study is to disseminate knowledge and information about factors that affect the integrity of financial statements of building construction companies in Indonesia. The object of this study is a building construction sub-sector company listed on the Indonesia Stock Exchange during the period 2020 – 2022. The entire quantitative research sample amounted to 33 companies. Purposive sampling is used in the sampling procedure. The test was conducted using multiple regression analysis, where the integrity of financial statements is measured using accounting conservatism. The results of this study show that tenure audits and audit fees have a negative and significant effect on the integrity of financial statements and the size of public accounting has a positive and significant effect on the integrity of financial statements. It is expected that with this research, all parties (management, shareholders, and auditors) must be highly committed to realizing the improvement of financial statement integrity. The limitation of this study is the low adjusted R square value of 0.271, which indicates that the independent variable is only able to explain 27.1% of the variation of the dependent variable, as well as the lack of research samples. Then the suggestion for future research is to add research samples and other variables such as (1) company size; (2) leverage; (3) profitability; (4) financial distress that can explain the effect on the integrity of financial statements.

Comparative Analysis of the Financial Performance of State-Owned and Private Construction Companies in Indonesia Due to the COVID-19 Disaster

In a competitive business era, company performance is a crucial factor that affects the sustainability and growth of an organization. There are various methods in measuring the performance of a company. One of them is by conducting a comparative analysis of financial statements to provide an overview and evaluate the financial conditions that occur in a particular year and predict future financial conditions. In 2020, the COVID-19 situation has a major impact on companies engaged in the infrastructure sector, including (Badan Usaha Milik Negara) BUMN in the field of building and construction and private construction companies. The purpose of this study is to determine the performance of construction companies in Indonesia, both private and state-owned enterprises with large business qualifications due to the COVID-19 disaster. The study was conducted based on the financial statements of each of these companies. Based on the results of the analysis and discussion, it can be concluded that the performance of BUMN and private construction companies is still feeling the impact of COVID-19. The performance of private construction companies in 2021 has the ability to pay long-term debt, generate profits, manage capital to run the company's operations better, while BUMN construction companies have the ability to pay short-term debt, as well as manage receivables, inventory and assets.

Construction Waste Management In The Green Accounting Perspective: A Study On Construction Companies In Indonesia

Construction Waste Management In The Green Accounting Perspective: A Study On Construction Companies In Indonesia

Does transformational and transactional leadership in Indonesia’s construction sector affect organizational citizenship behavior through job satisfaction?

Construction service companies have projects that must be finished and require workers. Failure to manage construction human resources can jeopardize goal achievement, performance, and revenues for construction service companies. The construction industry may encounter issues in the future because of inefficient human resource management. As a result, resource management has emerged as a prominent topic. This study aims to investigate the effect of transformational and transactional leadership on organizational citizenship behavior. This study utilizes a quantitative approach. The population in this study were employees from 8 construction companies in Indonesia. Questionnaire data were collected from 120 employees of the construction companies that intended to improve job satisfaction and organizational citizenship behavior. The study initially employed questionnaires to gather data, which were subsequently analyzed using SmartPLS software and structural equation modeling. The findings demonstrated a correlation between employee engagement and both transformational and transactional leadership styles. There is a positive correlation between employees’ job satisfaction and their commitment to volunteer in the community. The study shows that the transformational and transactional leadership style does not significantly affect organizational citizenship behavior.

Analisis Financial Distress pada Perusahaan Konstruksi selama PSBB-PPKM era COVID-19 di Indonesia

Purpose: The purpose of this study is to analyze the extent of financial distress experienced by construction companies during the implementation of the PSBB-PPKM policy in the COVID-19 era during 2020-2022. Methodology/approach: This research methodology uses descriptive statistical analysis and review studies in a quantitative approach. The data used is secondary data sourced from the financial statements of construction companies that have been listed on the Indonesia Stock Exchange, then processed and analyzed using the Microsoft Excel application. Result/findings: During the implementation of the PSBB-PPKM policy, there were 31 samples of construction companies detected as financial distress, 12 and 20 samples of companies detected as grey area and safe zone. Financial distress companies occur because they have poor profitability ratios and the largest solvency ratios among other groups, gray area companies occur because they have large solvency ratios and poor profitability ratios, and safe zone companies occur because they have high liquidity and profitability ratios, and the smallest solvency ratios among other group companies. Limitation: The limitations of this study are the lack of consistent research analysis directions in previous journals, and not all sample company financial statements provide specific explanations of the development of account items in their financial statements. Contribution: This research can contribute as one of the main references of stakeholders to make decisions that can avoid losses in the current financial situation of construction companies in Indonesia in the future.

Opportunities and Challenges of Enterprise Resource Planning (ERP) in Construction Companies in Indonesia: A Systematic Literature Review

This study delineates a systematic review of literature focusing on the opportunities and challenges associated with implementing Enterprise Resource Planning (ERP) in construction companies in Indonesia. Through the Systematic Literature Review (SLR) approach, this article evaluates and analyzes several related studies published within the last five years (2019-2023). This method allows the identification and synthesis of data from various sources such as academic journals, related publications, and databases, which are then analyzed to identify trends, opportunities, and challenges related to ERP implementation within the context of the construction industry in Indonesia. The findings from this literature review reveal a variety of benefits obtained by construction companies after adopting ERP systems, including improved operational efficiency, better resource management, and enhanced strategic decision-making. However, challenges also emerge, including issues related to adapting to change, integration with existing systems, as well as significant implementation costs and time. This analysis provides deep insights into the ERP implementation in the construction industry in Indonesia, providing a foundation for better understanding and further development in facing challenges and leveraging available opportunities.

Analisa Metode Backpropagation Dalam Memprediksi Jumlah Perusahaan Konstruksi Berdasarkan Provinsi di Indonesia

This research aims to analyze the number of construction companies in Indonesia and gain an understanding of the trends and characteristics of the construction industry in that country. In this research, data related to the number of construction companies is analyzed using available sources such as government statistical reports, industry publications, and other secondary data sources. The data we use in this research is data on the number of construction companies by province in Indonesia from 2016-2021 which was taken from the website of the Central Statistics Agency (BPS) using the backprogation artificial neural network (JST) method. The analysis results show that the number of construction companies in Indonesia has increased significantly in recent years. It is hoped that this research will encourage strong economic growth and increasing investment in the infrastructure and property sectors has driven demand for construction services. In addition, government policies that support the construction sector, such as infrastructure development programs and regulations that facilitate foreign investment, also contribute to the growth in the number of construction companies. Apart from growth trends, this research also identifies several characteristics of the construction industry in Indonesia. The industry is dominated by small and medium-sized companies operating locally, although there are also large companies involved in large-scale projects. Competition in this industry is fierce, with companies vying to win construction contracts and develop a competitive advantage. The architectural models that we use in this research are 6 architectural models, of which the best architectural model will be obtained. The architectural models include 5-11-1-1 with an accuracy percentage of 61.8%, 5-12-1- 1 with an accuracy percentage of 70.6%, 5-14-1-1 with an accuracy percentage of 82.4%, 5-18-1-1 with an accuracy percentage of 64.7%, 5-20-1-1 with an accuracy percentage of 70.6%, 5-22- 1-1 with an accuracy percentage of 73.5%. So the best architectural model is obtained, namely the 5-12-1-1 model which produces an accuracy rate of 82.4%. with a Mean Square Error (MSE) of 0.00099997 with an error prone of between 0.001-0.05. These results are quite good in predicting the number of construction companies based on provinces in Indonesia

Analysis of Risk Components of Building Construction Projects in Construction Companies: Case Study of Projects in Jabodetabek

Risk management is very important for a construction company to carry out all company activities and especially to run a construction project. As is known, the project is carried out through stages in which it is very loaded with unwanted events, ranging from the tender process to get the project, the design stage, the pre-construction stage, the construction stage, and the post-construction stage. It is determined that risk categories are divided into operational; Financial; legal; & marketing. Causative factors consist of external; legal; human; process; & system. Areas of cause determined: design &; marketing; legal; implementation; therapy. Risk treatment strategies are determined: eliminating sources of risk; maintaining risk with the right decision; changing the possibilities; and Changing consequences. Based on secondary data obtained on seven projects that have been completed in the Jabodetabek area by one of the construction companies in Indonesia, qualitatively it was found that operational risk occupies the top position, the category that most often arises unwanted events. Process factors are the highest factors as the cause of an unwanted event. Process factors are the highest factors as the cause of an unwanted event. Then the construction period is the highest area, and often an unwanted event occurs. Naturally, the construction period has the longest duration compared to other stages. It further eliminates sources of risk, transforms consequences and turns possibilities into the most frequent ones in the process of managing risks in the project. Meanwhile, based on the level of risk identified from 38 risks that occurred in seven projects, the level of extreme risk occurred in as many as 10 events and as many as 19 events, then after follow-up, the level of extreme risk became as many as 2 events and high to 19 events, this indicates that these unwanted events affect the profit target of the project being worked on. Thus, ERM becomes very important for a construction company in order to achieve the company's goals and objectives and ERM is an important part of good corporate governance

BIM Implementation for Storing, Sharing and Capturing Knowledge in Indonesian Project Construction

BIM as a digital representation of assets has been used to facilitate design, construction, and operation process to form a reliable basis for decisions. While knowledge is part of the company's assets, knowledge will be maintained in the system so that it may be recalled if needed if BIM is used to document, store, and distribute knowledge more easily. This study will determine how BIM adoption supports knowledge storage, knowledge share, and knowledge capture in Indonesian construction projects. Data was obtained by interview and analysed using qualitative method. The results showed that large state-owned construction companies in Indonesia had implemented BIM-based knowledge management to assist organisational knowledge management process, especially in knowledge capture, storage and share on several projects, and reduce knowledge loss due to time lapse. Finding also shows that knowledge created in a project is centralised in one model, and lessons or knowledge can be grouped with BIM user preferences.

Determinants of Company Performance with Supply Chain Risk Management as an Intervening Variable: Empirical Studies on BUMN Construction in Indonesia

BUMN construction companies are required to be competent to maintain the quality of the company by having good performance. Due to the phenomenon of declining financial performance and the phenomenon of outsourcing, a system is needed which is a synergy between SCM and risk management, that is Supply Chain Risk Management (SCRM). This study aims to further explore the supply chain risks that occur in state-owned construction companies in Indonesia by developing a system that can control risk and play an important role in Vendor Trust, Contractor-Vendor Relationship and Top Management Involvement to measure company performance. The data collection was carried out using a survey method using questionnaires and interviews. Respondents were selected using the purposive sampling method, that experts on Indonesian BUMN construction projects using the Smart PLS analysis method. The results of the study concluded that Vendor Trust has no effect on Supply Chain Risk Management. This is related to the existence of Law No.2 of 2017 reinforced by Minister of BUMN No.08 of 2019 which regulates the readiness of database infrastructure and Vendor criteria. Based on this regulation, a Vendor Management System was created that applies ratings, sanctions and Blacklists to Vendors, if there are errors or even a shortage of Vendor expertise documents, Unverified will occur and the impact on billing to contractors will be hampered so that trust can increase mutually beneficial relationships in long-term partnerships hard to do. Contractor-Vendor Relationship and Top management Involvement influence SCRM. Vendor trust, Contractor-Vendor Relationship and Top Management Involvement influence company performance after being mediated by Supply Chain Risk Management.

FACTORS AFFECTING THE COMPETITIVE ADVANTAGE OF CONSTRUCTION COMPANIES IN INDONESIA

Competitive advantage is an important factor in the success of construction companies in a competitive market. To achieve a competitive advantage, construction companies must understand the factors that influence it and implement the right strategy. This study aims to analyze the factors that influence the competitive advantage of construction companies in Indonesia. It is an exploratory research. Factors affecting competitive advantage were obtained from an in-depth literature review and structured interviews with leaders of Indonesian state-owned construction companies. The results were then analyzed using the Relative Important Index (RII). The results highlight three main factors affecting the competitive advantage of construction companies in Indonesia: company characteristics, technology adoption, and technology readiness. Implementing the outputs of this research can be beneficial for companies to face intense global competition, by taking strategic steps to improve their competitive advantage in the construction industry.

Effect of OHS, Work Accidents, Work Culture and OHS Competence on OHS Performance in National Construction Companies

This study aims to determine the effect of OSH work programs, factors that cause work accidents and their learning, culture or work climate, and OSH competencies on safety performance. The populations of this study were employees of PT XYZ which is one of the state-owned construction companies in Indonesia, with a total sample of 110 respondents. The data collection method uses a survey method, with the research instrument being a questionnaire. The data analysis method uses the Structural Equation Model-Partial Least Square (SEM-PLS). The results of the study found that the OSH work program, factors causing work accidents and learning, culture or work climate, and OSH competencies have a positive and significant impact on safety performance. This can be concluded, the better the HSE work program, the factors that cause work accidents and their learning, the culture or work climate, and the HSE competencies implemented, the better the company's safety performance will be.

Determinants of Profitability : Evidence from Construction Companies Listed on Indonesian Securities Market

An asset management role is required to analyze and optimize revenue sources and efficient systems to reduce costs. Construction service companies that tend to have fewer fixed assets than their current assets have constraints in suppressing production prices and must be able to manage them efficiently to maintain their existence in the market. The data shows the growth in the number of construction service companies which continues to increase and the construction price index which continues to decline, requiring efficient asset management to reduce production costs. For this reason, this study aims to determine the effect of Account Receivable Turnover (ARTO) asset management instruments, Fixed Asset Turnover (FATO), Inventory Turnover (IT), and Total Asset Turnover (TATO) on Operating Profit Margin (OPM) in construction service companies in Indonesia. The research sample is 5 large-scale construction companies in Indonesia with vulnerable observation periods from 2017 to 2021. The method used in this research is panel data regression to examine the relationship between research variables. The results of this study indicate that Fixed Asset Turnover (FATO) and Total Assets Turnover (TATO) have an effect on the Operational Profit Margin (OPM) of construction service companies in Indonesia. Meanwhile, Account Receivable Turnover (ARTO) and Inventory Turnover (IT) have no effect on OPM in Indonesian construction service companies. The results of this study have implications for construction service companies that asset management is very important for the company's progress, especially in increasing profits. This research contributes to the ability of construction service companies to manage their assets effectively, because the construction service business actor is the party responsible for implementing infrastructure development in Indonesia.

Religious value-based strategy model on steel construction businesses performance

While the importance of implementing value-based strategies has been widely researched, empirical research on applying such strategies to create a religious atmosphere that can improve workers’ performance in companies is limited. Therefore, this study aims to generate a Value-Based Strategy Model for creating a religious atmosphere and examine its influence on steel construction businesses' performance in Indonesia. The model is based on the concept of religious-based values, which provide a competitive advantage for companies by affecting the performance of workers and the overall company performance. The population for this study was 120 steel construction companies in Indonesia, and the SEM-PLS technique was used for analysis. The findings demonstrate that a value-based strategy that creates a religious atmosphere significantly and positively affects the business performance of steel construction companies in Indonesia.

Analisis Critical Path Model yang Digunakan Dalam Manajemen Proyek dan Kontribusinya Terhadap Manajemen Mutu ISO 9001 Di Perusahaan Konstruksi Di INDONESIA

ABSTRACT
 
 Critical Path Model (CPM) has been widely used in construction project management as an effective and efficient tool for planning and managing project schedules. This study aims to analyze the contribution of CPM to quality management geothermal project at Lumut Balai, especially in the context of ISO 9001. By reviewing existing literature and case studies, this study explores how CPM can increase the effectiveness and efficiency of ISO 9001 quality management. From the analysis obtained 12 critical paths on the disciplines of Mist Eliminator, Piping, Mechanical, and Painting & Insulation. The results of this study show that the use of CPM can reduce the duration to 604 days compared to the initial schedule of 825 days. CPM can play a significant role in improving quality management in construction companies by providing clear and accurate project schedules, reducing delays, and improving overall project performance. In addition, integration of CPM with quality management tools can enhance overall quality management system and increase chance of project success. The conclusion of this study is CPM has great potential to assist construction companies in increasing the effectiveness and efficiency of ISO 9001 quality management. Construction companies in Indonesia should adopt CPM as a project management tool to ensure project success and meet ISO 9001 quality standards. This study provides insights positive about the future of CPM in construction project management and open opportunities for further research in this field.
 
 Keywords: CPM, critical path, quali

Factors Affecting Employee Readiness to Change in Construction State-Owned Enterprises

In recent years, there have been companies that were initially successful, then lost in competition and even disappeared from the business scene, even though the company was once known to be innovative in new products. The company's defeat was not due to simply failing to compete with competitors from similar industries but by new companies that created new businesses and markets. Organizational change is a continuous and dynamic process. Change cannot be stopped once a change initiative has been implemented. Change always occurs because the environment changes. The biggest actors in organizational transformation are people because an organization's most affected members are employees. Construction company management believes change must be planned, controlled, and directed as part of organizational life. One form of change is now experienced in implementing digital technology, which can be combined with other technologies. This research is used to examine construction companies in Indonesia, with limitations on facilitative leadership and job security towards readiness to change, psychological capital mediators and organizational support moderators. The design is cross-sectional, with primary data collection on construction companies, and the research methodology is a Structural Equation Model (SEM) from Lisrel. Findings based on five indicators, i.e. facilitative leadership, job security, psychology capital, readiness change, organizational support, GFI = 0.85 < 0.90 (marginal), CFI =0.98 > 0.90 (fit), NFI = 0.97 > 0.90 (fit), NNFI = 0.98 > 0.90 (fit) and RMSEA = 0.096 < 0.08 (marginal). This capability enables construction companies to do business in the digital modular field and simplify the construction process. By mastering various technologies, construction companies can work with many parties in project work and investment offers.

Are Indonesian construction companies financially distressed? A prediction using artificial neural networks

Construction companies are very dependent on the projects carried out by a company. Therefore, measuring whether a company is distressed or non-distressed can be done by looking at the ratios derived from the components of the financial statements from both the balance sheet and the company’s profit and loss. This study offers a new method for measuring financial distress in companies with Artificial Neural Networks (ANN). The model provided comes from several financial ratios in 17 construction companies listed on the Indonesia Stock Exchange. The model is expected to produce the best model by showing the lowest prediction error rate. The results showed that the best ANN model has 25 inputs, 20 hidden layer neurons, and 1 best model output. The model obtained will be tested directly on the sample used; the results are that 6 construction companies in Indonesia have financial distress and 11 non-distress problems. This result proves that the best model obtained can predict the level of financial distress of companies with a small error rate to produce 6 companies identified as financially distressed. This result can be a warning for companies to increase revenue by adding new projects to get out of financial distress status. Traditional financial distress models such as Altman, Zmijewski, Springate, and Fulmer, which have become researchers’ guidelines for measuring financial distress, can be added to the ANN 25-20-1 model as a comparison to strengthen the research results.

UNDERSTANDING ACCOUNTING IN SUPPORTING REPORTS QUALITY FINANCE AT PT. PASANGGRAHAN CITRA PERSADA

Financial statements are a form of accountability for the management of economic resources owned by an entity. Published financial reports must be prepared in accordance with applicable accounting standards so that these financial statements can be compared with the financial statements of the previous period or compared with the financial statements of a clear entity. Quality of financial reports - (financial statement) is the final result of the process of accounting activities or a summary of financial transactions. Financial statements are prepared to provide information about the position of assets, debts and capital that occur in the company's household as well as its profits and losses. The characteristics of financial reports in terms of quality are based on the Accounting Standards Guide (PSAK), namely: Understandability, Relevance, Materiality, Reliability, Honest presentation, Substance over form, Neutrality, Fair consideration and Completeness. Based on the problems mentioned above, we conducted community service at PT Pasanggrahan Citra Persada, which is an l‹loantral‹tor company engaged in structural work, architects and interiors, with an expert and skilled workforce. PT Pasanggrahan Citra Persada emphasizes sustainable company growth to become one of the best quality construction companies in Indonesia with competency development through human resource development, technology management and good corporate governance.

Smart Construction Using Building Information Modelling (BIM)

Smart construction is the application of advanced technologies and digital tools in the construction industry to enhance productivity, efficiency, and collaboration throughout the construction process. One of the key technologies used in smart construction is Building Information Modelling (BIM), a digital representation of a building or infrastructure project encompassing its physical and functional characteristics. This study investigates the factors influencing BIM implementation in Indonesia's construction industry. The study surveyed 175 engineers in Indonesian construction companies and used SmartPLS to analyze the data. The findings indicate that performance expectancy, effort expectancy, and social influence significantly impact behavioral intentions to use BIM, which, in turn, positively correlates with individual user behaviors when using BIM in Indonesian construction companies.