Mendorong Efisiensi Investasi di Indonesia: Bukti Empiris dan Rekomendasi Penelitian Masa Depan

Abstract

Purpose: This study aims to review and analyze empirical evidence on investment efficiency in the Indonesian firms.

Methodology/approach: Bibliographic analysis is used in this study. This study uses 30 articles published between 2015 and 2023 in internationally recognized Scopus journals and nationally recognized Sinta 2 journals with a research object in Indonesia.

Results/findings: This study identifies three types of factors that influence investment efficiency of the firm: financial, governance, and non-financial factors. Financial factors are critical for determining investment efficiency, whereas corporate governance factors can improve a firm's investment decisions. Non-financial factors such as managerial personal can have a substantial impact on a firm's investment efficiency. Future study on investment efficiency in Indonesia should include varied characteristics and external factors, undertake comparative studies with neighbouring countries, and work with industry stakeholders to bridge the gap between theory and practice.

Limitations: This study focuses mostly on analyzing the literature on investment efficiency in Indonesia using the charting the field method.

Contribution: This study provides academics with an overview of how efficient firm investment is conducted. Additionally, the study offers useful guidance to practitioners on how to monitor and increase knowledge of the variables influencing firm investment decisions. This study can be taken into account by policymakers when developing investment and economic policies that improve the ease of doing business in Indonesia.