| Title |
Using Logistic Regression for Determining the Factors Affecting Bidding Success in World Bank's International Consulting Projects in Indonesia |
| Authors |
Yu, Youngsu ; Shin, Byungjin ; Koo, Bonsang ; Han, Seungheon |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2018.19.1.080 |
| Keywords |
International Bidding Strategies ; World Bank ; Indonesia ; Logistic Regression |
| Abstract |
World Bank projects enable Korean engineering firms to enter new markets and diversify their portfolio. These firms need to understand the critical factors for bidding success in such projects. The World Bank publishes as open records all their bidding history data in their open database. This provides an opportunity to identify empirically the factors that determine which firms on chosen. This research collected relevant bid data, focusing on Indonesia, to perform a logistic regression with the goal of statistically identifying significant factors that result in bidding success. Results showed that work experience, being included in a consortium, and having a local partner positively affected winning a bid. On the other hand, having a local competitor of the recipient country negatively impacts the chances of attaining a bid. Commensurately, Korean engineering firms need to increase their work experience in internationally recognized projects, and include a local partner as a joint venture partner to increase their chances, while refrain from conventional projects that can be performed by local engineering firms. |