{"id":8464,"date":"2023-12-27T18:32:13","date_gmt":"2023-12-27T10:32:13","guid":{"rendered":"https:\/\/www.ukm.my\/jem\/?post_type=article&#038;p=8464"},"modified":"2024-03-20T15:02:51","modified_gmt":"2024-03-20T07:02:51","slug":"energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia","status":"publish","type":"article","link":"https:\/\/www.ukm.my\/jem\/article\/energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia\/","title":{"rendered":"Energy Efficient Retrofits using Transaction Cost Theory: Evidence from Indonesia"},"content":{"rendered":"<p><em>The study aimed to analyze the factors that influence the energy-efficient retrofits decisions using transaction cost theory. <\/em><em>The research was conducted from December 2020 to July 2021, involving 105 samples that comprise of Indonesian building owners, operations managers, and Chief of Operations. The data was analysed using Partial Least Squares model. The key findings were that uncertainty and asset specificity, rather than transaction costs, were the main factors influencing building owner and occupants\u2019 decisions to pursue energy efficiency retrofits. This highlights the need to address service guarantees, specialized assets, and uncertainty to facilitate adoption. This study contributes to the transaction costs of economics in green retrofitting financing models. Therefore, this research provides framework for developing ideas in implementing green retrofitting. The study suggests retrofit providers should prioritize reducing uncertainty and highlighting asset specificities, such as solid service guarantees, branding, expertise, and equipment quality, to drive greater adoption of energy-efficient retrofits. This research offers practical insights into owner-occupant motivations, benefiting the building industry in improving marketing, partnerships, contracts, and client relationships to boost retrofit adoption. Overall, the findings support the growth of retrofitting and related sectors by demonstrating their viability and emphasizing the key factors that influence adoption.<\/em><\/p>\n","protected":false},"template":"","tags":[1787,1785,1788,1784,1783,1786],"jel-code":[1789,1790,1791,1696,1792,1793],"article-type":[1329],"class_list":["entry","author-asriwn","post-8464","article","type-article","status-publish","tag-asset-specificities","tag-energy-efficiency-initiative","tag-partial-least-squares","tag-retrofitting","tag-transaction-cost-economics","tag-uncertainty","jel-code-g4","jel-code-l2","jel-code-l8","jel-code-m2","jel-code-n6","jel-code-q3","article-type-normal-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Energy Efficient Retrofits using Transaction Cost Theory: Evidence from Indonesia | Jurnal Ekonomi Malaysia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ukm.my\/jem\/article\/energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Energy Efficient Retrofits using Transaction Cost Theory: Evidence from Indonesia | Jurnal Ekonomi Malaysia\" \/>\n<meta property=\"og:description\" content=\"The study aimed to analyze the factors that influence the energy-efficient retrofits decisions using transaction cost theory. The research was conducted from December 2020 to July 2021, involving 105 samples that comprise of Indonesian building owners, operations managers, and Chief of Operations. The data was analysed using Partial Least SquaresContinue Reading\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ukm.my\/jem\/article\/energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia\/\" \/>\n<meta property=\"og:site_name\" content=\"Jurnal Ekonomi Malaysia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Jurnal-Ekonomi-Malaysia-JEM-104142808087485\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-20T07:02:51+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@EkonomiJurnal\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia\\\/\",\"url\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia\\\/\",\"name\":\"Energy Efficient Retrofits using Transaction Cost Theory: Evidence from Indonesia | Jurnal Ekonomi Malaysia\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#website\"},\"datePublished\":\"2023-12-27T10:32:13+00:00\",\"dateModified\":\"2024-03-20T07:02:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Articles\",\"item\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/article\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Energy Efficient Retrofits using Transaction Cost Theory: Evidence from Indonesia\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#website\",\"url\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/\",\"name\":\"Jurnal Ekonomi Malaysia\",\"description\":\"Universiti Kebangsaan Malaysia\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#organization\",\"name\":\"Jurnal Ekonomi Malaysia\",\"url\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/cropped-browser-icon-letter-1.png\",\"contentUrl\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/cropped-browser-icon-letter-1.png\",\"width\":512,\"height\":308,\"caption\":\"Jurnal Ekonomi Malaysia\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ukm.my\\\/jem\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/Jurnal-Ekonomi-Malaysia-JEM-104142808087485\",\"https:\\\/\\\/x.com\\\/EkonomiJurnal\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Energy Efficient Retrofits using Transaction Cost Theory: Evidence from Indonesia | Jurnal Ekonomi Malaysia","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ukm.my\/jem\/article\/energy-efficient-retrofits-using-transaction-cost-theory-evidence-from-indonesia\/","og_locale":"en_US","og_type":"article","og_title":"Energy Efficient Retrofits using Transaction Cost Theory: Evidence from Indonesia | Jurnal Ekonomi Malaysia","og_description":"The study aimed to analyze the factors that influence the energy-efficient retrofits decisions using transaction cost theory. 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