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The Evolving Roles Political Connections in Firm Performance: Insights from a Two-Decades Review Widyastuti, Arie; Wiryono , Sudarso Kaderi; Nainggolan , Yunieta Anny
Jurnal Manajemen Teknologi Vol. 24 No. 1 (2025)
Publisher : Unit Research and Knowledge, School of Business and Management, Institut Teknologi Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12695/jmt.2025.24.1.5

Abstract

Abstract. This study examined the impact of political connections on firms' performance. Using bibliometric data, we analysed key research areas, top journals, important studies, leading scholars, and prominent institutions and countries in this field of research. Our review of 709 articles demonstrates a significant increase in publications on this topic, highlighting the valuable role of political ties for firms across both emerging and developed economies. Greater attention is paid to not only business and economic areas, such as market and financial performance, corporate governance, and mergers and acquisitions, but also the economic consequences of green and sustainable practices on the performance of politically connected firms. Due to the interdisciplinary nature of research on political connections, this study provides valuable insights for decision-makers in using political connections as a non-market strategy by mapping knowledge development in the research field over the last two decades, as well as facilitating future research to more easily identify relevant references and presenting emerging themes in the research domain. Keywords: Firms' performance, political connections, bibliometric analysis, knowledge mapping, web of science
Unlocking the Nexus Between Green Financing, Net Zero Roadmaps, and Science-Based Targets Initiatives in Indonesia's Infrastructure Sector Panjaitan, Nathania Adella; Nainggolan , Yunieta Anny
Journal Integration of Management Studies Vol. 3 No. 3 (2025)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v3i3.352

Abstract

Infrastructure sectors, especially energy, construction, and transport, are pivotal to Indonesia's net-zero transition due to their emissions intensity and capital demands. This study investigates how Science-Based Targets Initiatives (SBTi) disclosures and financial health affect green finance uptake. Using a mixed-method approach and logistic regression on 65 IDX-listed infrastructure firms within the 2023 fiscal year, this research incorporates firm-level data from annual and sustainability reports. It applies indicators including Return on Equity (ROE), Debt-to-Equity Ratio (DER), Cost of Debt (COD), and SBTi-aligned disclosure scores (CNZSTot). The results show that COD is the only significant financial predictor, while SBTi disclosure scores outperform net-zero roadmap availability in explaining green finance engagement. Disclosure gaps, limited third-party assurance, and sectoral inconsistencies reduce credibility. The findings imply that formal, verifiable climate disclosures aligned with science-based frameworks are pivotal in accessing the green capital, enhancing regulatory incentives, and disclosure standards also become essential to advance Indonesia's infrastructure decarbonization agenda.