Infrastructure Companies Research Articles

The role of auditor opinion in moderating the effect of financial distress on auditor switching in the infrastructure, utility, and transportation sub-sectors

The purpose of this study is to analyze the effect of company growth and financial distress on auditor switching with going concern audit opinion as a moderating variable. The data used in this research are secondary data obtained from Indonesia Stock Exchange. The sample used in this study is 25 infrastructure, utilities and transportation companies listed on the Indonesia Stock Exchange (IDX). The study period is 5 years (2013-2017). Sampling in this study is conducted using purposive sampling method. The analysis techniques used are descriptive analysis, logistic regression, and moderated regression analysis. The dependent variable used is auditor switching, while the independent variables are company growth and financial distress, with going concern audit opinion as the moderating variable. The results show that company growth has no effect on auditor switching, financial distress has an effect on Auditor switching, going concern audit opinion has no affect and cannot moderate the effect of company growth on auditor switching, going concern audit opinion has an effect but cannot moderate the effect of financial distress on auditor switching.

Innovative Financing for City Infrastructure Investment by Increasing the Rate of Return from Spillover Tax Revenues

The growing trend of urban city development requires various infrastructure investments, including water supply, electricity, sanitation, transportation, and other supporting facilities. In facing this challenge, many Asian countries experience significant constraints, particularly on the issues of land acquisition and insufficient financial supply, which potentially create a time delay in infrastructure investment and huge budget deficits. If these infrastructure investments were financed by overseas investors, future exchange rate risks would have to be carried by infrastructure companies. We examine further ways to attract more investment in infrastructure by applying spillover tax revenues. We also present case studies of some innovative financing aspects of Japan and other countries.

A perspectiva da Escola Austríaca sobre a concessão aeroportuária brasileira

A concessão dos aeroportos de Guarulhos, Viracopos e Brasília é discutida sob a ótica da Escola Austríaca, com base teórica na Teoria Austríaca de Processo de Mercado (KIRZNER, 1997; BARBIERI, 2001) e na Teoria Austríaca do Intervencionismo Econômico (MISES, 2010b). O problema observado é que o Estado é o poder concedente, órgão regulador e sócio na concessionária Os resultados indicam que a presença do Estado impede a eficiência da gestão empreendedora, a descoberta de novos conhecimentos e o estímulo à concorrência, já que a Empresa Brasileira de Infraestrutura Aeroportuária (INFRAERO) está presente na gestão de aeroportos concedidos e não concedidos. A INFRAERO foi negativamente impactada, pois perdeu parte da receita dos aeroportos superavitários e manteve a responsabilidade pela gestão de aeroportos deficitários ou com baixa receita. A Teoria do Intervencionismo de Ludwig von Mises, escrita na década de 1940, permanece contemporânea e orienta o processo de gestão organizacional.

Preferences for autonomous and alternative fuel-powered heavy-duty trucks in Germany

Germany is by far the largest contributor of greenhouse gas emissions in the European Union but adopted its own climate action plan to achieve greenhouse gas neutrality by 2050. The country’s third-largest emitter of greenhouse gas emissions is the transportation sector. As of January 2019, 99.7% of heavy-duty trucks registered in Germany run on diesel while the share of alternative fuel-powered passenger cars increases steadily. Apart from rising emissions, the industry faces a growing shortage of qualified truck drivers. A solution to increasing emissions and the shortage of drivers are autonomous and alternative fuel-powered heavy-duty trucks. We employed a choice-based conjoint analysis with employees from freight companies in Germany to find out how they assess the main attributes of innovative trucks. Our results reveal that the maximum driving range is the most important attribute followed by the refueling/recharging time. Tank-to-wheel emissions, on the other hand, was ranked as the least relevant attribute. Moreover, we present customers’ preference shares for future heavy-duty trucks until 2035. According to our results, freight companies are generally open to switching from conventional to low emission and (conditionally-) automated heavy-duty trucks, however, a close collaboration between truck manufacturers, customers, infrastructure companies, and policymakers is essential to spur the penetration of autonomous and alternative fuel-powered heavy-duty trucks.

Analisis Empiris Faktor Determinan Struktur Modal Perusahaan Infrastruktur Indonesia

The Infrastructure Industry has become the focus of the state expenditure budget during the Joko Widodo-Jusuf Kalla presidency. This is due to the importance of infrastructure in assisting the sustainability of a country's development, but the fact is that government funds as a source of infrastructure funds are delayed when the company has acquired a new project resulting in the use of debt in infrastructure companies as a capital structure to run the new project. The study identifies examination on the impact of capital structure determinants on firm financial performance of Indonesia’s Infrastructure Companies listed over the period of 2014-2018. Determination of the number of samples in this study using non-probability sampling, specifically purposive sampling method. The study uses one capital structure measures (Leverage) as dependent variable and four performance measures (including company’s size, the tangibility of asset, liquidity, and asset turnover) as independent variables and proceed using multiple regression model. The result indicates that liquidity has a significantly negative relationship to leverage, meanwhile company’s size, the tangibility of asset, and asset turnover are not significantly related to the level of debt in infrastructure companies in Indonesia, however, it goes along with the way of thinking in the Pecking Order Theory.

Presentation of a Model for a Competency-Based Succession Planning Model with Respect to Adjusting Role of Organizational Culture in Telecommunication Infrastructure Company of Iran (TICIR)

The current research aims to propose a competency-based succession planning model with respect to adjusting role of organizational culture in Telecommunication Infrastructure Company of Iran (TICIR). This study was conducted as an applied research in terms of objective and it was assumed as a descriptive survey by taking approach toward interpretative structural modeling. The statistical population of this study included two groups of experts and directors (Directors general, chairmen of offices, responsible experts and experts of TICIR Company). Primarily, in order to determine sample size for statistical population, 20 of experts were elected using non-randomized and selective sampling method and 340 members of the second statistical population were chosen by means of classified sampling technique including directors general, deputies of directors general, chairmen of offices, responsible experts and other experts of TICIR Company. The findings about succession planning model indicated that the variable of succession planning reached to a level higher than satisfactory rate therefore all of the related elements were placed higher than satisfactory level. Finally variable of organizational culture, as adjusting variable, was also placed at the level higher than satisfactory rate in this study. Hence, all of these variables reached to the level higher than satisfactory rate.

The Effect of KAP Size, Management Change, Audit Opinion, and Financial Distress on Auditor Switching in Infrastructure, Utility and Transportation Companies

This study aims to examine the effect of the size of the public accounting firm, change in management, audit opinion, and financial distress on auditor switching at companies listed on the Indonesia Stock Exchange (IDX) selected by using the purposive sampling method. Secondary data used in this study were taken from published annual reports through documentation and literature study methods. Infrastructure, utility, and transportation sector companies are the population in this study. The total number of infrastructure, utility, and transportation sector companies listed on the Indonesia Stock Exchange (IDX) in 2016-2018 in 181 companies. However, the data sample used is as many as 39 companies with an observation time of three years (2016-2017) with a population of 117 companies according to the criteria in this study. Logistic regression analysis is an analytical technique used for this study assisted by Microsoft Excel 2013 and IMB SPSS Statistic 25. The results of the study indicate that the size of the public accounting firm, audit opinion, and financial distress did not have a significant effect on auditor switching. Meanwhile, management changes have a significant effect on auditor switching.

Performance evaluation of telecommunication services provision with combined approach of balanced scorecard and system dynamics (case study: telecommunications infrastructure company)

Performance evaluation of telecommunication services provision with combined approach of balanced scorecard and system dynamics (case study: telecommunications infrastructure company)

Performance evaluation of telecommunication services provision with combined approach of balanced scorecard and system dynamics (case study: telecommunications infrastructure company)

One of the prerequisites for developing telecommunications industry is continuous performance evaluation. Despite the popularity of balanced scorecard approach (BSC), it has some limitation such as lack of a systematic perspective, not considering the dynamic relationships between indicators and delays. The purpose of this paper is to present a system dynamics (SD) model along with BSC to evaluate the performance of the telecommunications infrastructure company (TIC), the sole custodian of telecommunications networks in Iran. This is the first work that dynamics of TIC is investigated and the performance of TIC is evaluated by combined approach of BSC and SD. In the process of modelling, and according to experts, the indicators of “International Transit Capacity” and “R&D investment” are added to the existing indicators in the literature. Finally by determining the leverage points and simulating different policies, the best policies are presented.

Analysis of Factors Affecting Sharia Capital Market Performance in Indonesia

This research is a quantitative descriptive study, which aims to measure the performance of the company Infrastructure, Utilities, and Transportation sectors using the method of Economic Value Added (EVA) and see whether there is value creation for the company after EVA calculation. The population in this study is an infrastructure company listed on ISSI. While the sample used in this study is 12 infrastructure sector companies listed on the ISSI during 2015-2017 respectively. The type of data that used is the type of secondary data that the author gets through the financial statements of each company from 2015-2017 published on the IDX website. The performance measurement method used in this study is the EVA method, which consists of 3 components of calculation, namely Net Operating After Tax Profit, Weighted Average Cost of Capital and Invested Capital. The results of this study indicate that the performance of infrastructure sector companies listed on ISSI in the period 2015 to 2017 shows the results of EVA valuations are diverse, namely: Companies that have positive, fixed, negative EVA. PT Cardig Aero Service and TLKM succeeded in showing good EVA growth from 2015-2017, as evidenced by 2017 EVA has continued to increase in 3 consecutive years having positive EVA values

Correlation Analyze Between Working Environment and Reward With The Employee Motivation PT. Waskita Beton Precast Tbk. In Jakarta

In the globalization era with volatile and uncertaintay ambience highly productive employee with high motivation and creativity is the core process to running the infrastructure company. This study aims to analyze the correlation of working environment and reward to the employee motivation in PT. Waskita Beton Precast Tbk. Jakarta. Hypothesis testing was carried out by distributing questionnaires to 50 responses. The analyze used is the result of the validity test, the reliability test, the regression analyze test (multiple collinearity test, heteroscedasticity, normality test), and the hypothesis test using multiple linear regression analysis (t test, f test, and model summary) with the aid of SPSS version 22 computer. By using multiple regression analysis method, it is concluded that working environment variable has /correlation to employee motivation, and there is acorrelation for reward variable to employee motivation. While Variable of work environment and reward simultaneously have an influences to employee motivation variable at PT. Waskita Beton Precast Tbk. Jakarta.

ВПЛИВ ЕВОЛЮЦІЙНИХ ПРОЦЕСІВ НА РОЗВИТОК ІНФРАСТРУКТУРИ ЗАЛІЗНИЧНОГО ТРАНСПОРТУ

The article deals with the stages of railway transport infrastructure component evolutionary development. It is noted that with the loss by the railway industry of its naturalness, as it is a natural monopoly, the status of the infrastructure in it changes. Herewith, as a rule, a new model for managing railway transport is formed. The next stage in the development of infrastructure begins. The author outlines the reasons for the transition from one stage in the evolution of infrastructure to the next.In the process of research, three stages of the evolutionary development of railway transport infrastructure are identified. The first one is when infrastructure acts as a component of monopoly formation. The second one is when an infrastructure company becomes a vertically separated independent entity. The third one is when an infrastructure company becomes a member of a vertically integrated association created through strategic partnerships with carrier operators and the state. It is proved that changing the place of the infrastructural component determines the features of its functioning and the degree of risk. The characteristic features of the infrastructure company at each stage of development are highlighted. The emphasis is placed on the practicability of allowing Ukrainian railway companies to pass the second stage in infrastructure development.It is noted that the functioning of the infrastructure company as a part of a vertically integrated association through the development of strategic partnerships with carrier operators is more acceptable and appropriate. The world experience shows that for railway networks with a high traffic density and a large share of freight trains, the advantage is not the vertical separation and attempts to introduce competition, but the improvement of the state policy in the field of railway transport, motivation and management systems in the industry.

Pengaruh Kepemilikan Institusional, Kepemilikan Manajerial, dan Kepemilikan Asing Pada Pengungkapan Corporate Social Responsibility

One of the factors of corporate governance that influence the implementation of CSR is the ownership structure. The emergence of corporate ownership structures results from a comparison of the number of shareholders in the company. The purpose of this study was to determine the effect of institutional ownership, managerial ownership, and foreign ownership on disclosure of corporate social responsibility (CSR). This research was conducted on the Indonesia Stock Exchange in the period 2013-2017. The sample of this research was 40 Infrastructure, Utilities and Transportation companies using purposive random sampling, where samples were taken based on certain criteria. Data collection of this study uses secondary data. The analysis technique used is the Analysis of Multiple Linear Regression. The results of this study indicate that institutional ownership and managerial ownership have a positive effect on CSR, while foreign ownership has no significant negative effect on disclosure of CSR.
 Keywords : Institutional Ownership; Managerial Ownership; Foreign Ownership; Disclosure Of Corporate Social Responsibility.

“Liquidity & Profitability Analysis of the Selected Infrastructure Companies in India”

The business corporation’s are usually established with a read of earning profit kind the business operations. However beneath totally different state of affairs the article of the business corporations is also modified to survival, growth stability etc. it's tough for a business to breathe well while not profit. it should be thought to be a mirror of the operative performance of the business activities. But in the real business atmosphere of nowadays, profit it so, not the sole objective however one of the foremost necessary objectives, which commonly guide and direct business operations. Profit is Associate in tending absolute connotation, whereas gain may be a relative construct, despite being closely associated with a reciprocally interdependent, as they're, profit and gain are two different ideas. In alternative words, in spite of their generic nature, every one of them incorporates a distinct role in business issues. Gain is that the main indicator of the potency and effectiveness of a commerce in achieving its goal of earning profit. Analysis of the gain reveals on however the position of profits stands as a results of total transactions made throughout the year.

Evaluating the Effect of Employee Stock Option Plans on the Financial Performance of Indian Construction and Infrastructure Companies

Competitive pressures to improve productivity continue to place significant demand upon organizations globally. To respond to these competitive pressures with the developed countries like USA, ESOPs (Employee Stock Ownership Plans) have also been adopted in developing country like India to increase the firm’s and employee’s performance and productivity by retaining the employees to a large extent. Employee Stock Ownership Plans are majorly utilized by many successful and competent companies across the world. The successes of the ESOP companies in countries like USA, Japan and UK etc. may largely be attributed to enhancement of firm’s performance and Employee productivity. These effects are becoming increasingly noticed across the world in recent years. Thus, this research is an empirical study carried out to evaluate the impact of ESOP on financial performance of ten listed Indian Construction and Infrastructural companies based on for a period of six years. The study analyzes three years pre and post period to the adoption of ESOPs for the selected companies and is based upon secondary data collected from company annual reports of the respective years. Company-wise Pre- and Post-ESOP adoption Analysis and Regression Analysis is carried out in the selected selector.

Strategic merge: a gain or a gamble – the case of Telco China

Learning outcomes By reviewing the case study, readers are expected to understand the constraints of competitive strategies in a shifting environmental landscape; the difficulties of foreign companies to sustain in an emerging market with government interventions; the subtlety of joint venture (JV) formation by partners with very divergent background, priority and agenda; evaluation of behavioural orientations of partnership and JV operational arrangements as determinants of a successful JV strategy. Case overview/synopsis High-tech companies can enjoy super profits from their products when only a few competitors can compete with them technologically. However, these companies also nurture a high-cost operational culture that sets a constraint for their further growth when superiority of the technology can no longer be maintained. High-tech companies may reposition their businesses with a strategic shift from differentiation strategy to cost focus strategy. The attendant shift as well as synchronization problem in an organization may require a larger effort to revamp. This case describes a global telecom infrastructure company with successful business performance in China in her early establishment with a pre-emptive technological edge. Mitigation of technological superiority and the rise of local competitors have forced the Company to opt for a cooperative strategy with a local player in the establishment of a low-cost joint venture. Does the new joint venture facilitate the strategic shift or just create an illusion of cooperation? Complexity academic level Undergraduate students and post graduate students taking strategic management course. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 11: Strategy.

“Waju” and Its Evolution with Urban Technology – Japanese sustainable community for disaster resilience

Global society is pursuing sustainable community and city which are integrated and resilient against great disaster. This paper insists that traditional wisdom cultivated in Japan here should be reappraised in such modern contest. “Waju”, or “circle and collaboration” is a traditional and vernacular culture in Aichi, Japan. In this field, autonomous sprit has developed for some hundred years, independent of government by Kyoto and Edo – giving birth to global automotive industry today. Historical citizens in Waju community have promoted autonomy for disaster prevention and local supply of infrastructure and logistics for adaptation to hazardous environment. In fact they have built circle river levee, shared water supply inside and private ships in case of flood. This autonomous Waju spirit is realized and sustained in an advanced industry island in Aichi, with modern context of business continuity planning. 100 companies here are now collaborating for not only tsunami evacuation, self-ambulance system, partnership with infrastructure companies but also for building new bridge and road for logistics. These days, Waju sees new evolution by advanced technology. Local government and automotive companies in Aichi are now discussing holistic strategy for sustaining global automotive industry. More than 100 people are acting on large hazard map using augmented reality in the same time. They are making a circle surrounding the map, inheriting Waju spirit. Japanese community here has been struggling with disaster and making precious cultures in complete history with adaptive evolution. Traditional spirit and advanced modern technology will create Wajus all over the world in the future.

The management of environmental services in Brazilian public airports: The challenges in searching for efficiency

This study discusses the implementation of the Environmental Services Management System (ESMS) in the Brazilian Airport Infrastructure Company, otherwise known as Infraero. Infraero is a state company responsible for 54 public airports in Brazil; in 2017, it conducted more than 1.5 million operations (landings and takeoffs), and transported 108 million passengers, corresponding to 66% of the transportations in Latin America and the Caribbean. The ESMS adopted the concept of management by results, an innovation in Brazilian public companies. The basic premises are the definition of the service flow, the standardization of technical documents, rigorous deadline control and continuous improvement. The system was implemented in April 2017, and evaluated until December of the same year. Throughout the assessment period, a total of 764 environmental demands were registered, with a mean service rate of 3.7 for each workday, presenting a high index for the public sector. Overall, the adoption of the system resulted in an efficiency rate of 95% in the assessed period; moreover, the average monthly delay index was low, ranging from 5.1% in the first month to 0.9% in the last. These results demonstrate that the ESMS is an important tool in improving the efficiency of environmental services in public companies, proven by the high efficiency achieved by Infraero and the high potential for adapting the system to different sectors.

Adapting Procurement Models for Electric Buses in Latin America

Bus services are a fundamental component of transportation networks in Latin America, but buses often account for a disproportionately large number of environmental externalities. Electric buses (e-buses) are emerging as an effective and pragmatic option for reducing greenhouse gas emissions and local pollutants. However, e-buses are difficult to procure in Latin America because of existing procurement challenges in the region, especially as those challenges relate to forming contracts to deal with high upfront costs and unknown risks. To overcome these procurement issues, this paper presents a new contractual model, based on literature and case study research. This new model suggests the separation of bus service responsibilities into three separate actors: multiple bus procurement companies, one or multiple bus depots and charging infrastructure companies, and multiple bus operating companies. By separating bus service responsibilities, the proposed model would bring about three concrete improvements: lower costs to the transit system, better quality of service, and lower-emission fleet deployment.

Hubungan Struktur Modal Dan Profitabilitas: Analisis Perusahaan Infrastruktur pada Indonesian Stock Exchange Tahun 2012-2016

The purpose of this research is to analyze the relationship between capital structure and profitability of infrastructure companies listed in SMINFRA18 on the Indonesia Stock Exchange from 2012-2016. The advantage of an appropriate capital structure can help companies to grow primarily in the profits of their companies. This research is descriptive-correlation and quantitative approach. The data used in this study is the Capital Structure and Profitability Data of Infrastructure Companies in the Indonesia Stock Exchange which are members of the SMINFRA Index. There are 18 companies listed in the index which are the best companies in the infrastructure industry. The ratio used to describe the capital structure is Debt to Equity and the profitability ratio used is Return on Equity. This study uses statistical software to analyze: Auto-correlation, Multicollinearity, Normality, Heterocedascity, Correlation, and Regression analysis. Thus, the results of the study show that there is a significant relationship between capital structure and profitability in the SMINFRA18 Infrastructure Company listed on the Indonesia Stock Exchange.Keywords: Capital Structure, Profitability, Infrastructure, return on equity