The present paper analyses the factors associated with intensity in resource efficiency practices of European SMEs, considering four categories of firms according to their level of investment (very low, low, medium and high). Based on the stakeholder theory, we estimate a generalised ordinal logistic model which allows us to analyse the relationship between internal and external pressures, resources and capabilities and different categories of investments in resource efficiency. Results confirm that environmental organisational capabilities and financial resources are positively associated with the probability of achieving the highest investment intensity. The pressure of customers and providers and technical expertise increase the probability of firms’ moving from low levels of investment to medium levels. On the other hand, regulation, managerial environmental and economic awareness and external pressures from competitors increase the probability to remain in the group of the low resource efficiency. Finally, technological and organisational capabilities moderate the effect of stakeholder pressures on resource efficiency investment.

本文分析了与欧洲中小企业资源效率实践强度有关的因素，根据其投资水平（极低，低，中，高）考虑了四类企业。基于利益相关者理论，我们估计了广义序数逻辑模型，该模型使我们能够分析内部和外部压力，资源和能力以及不同类别的资源效率投资之间的关系。结果证实，环境组织能力和财务资源与实现最高投资强度的可能性成正相关。客户和提供者的压力以及技术专长增加了公司从低投资水平过渡到中等水平的可能性。另一方面，法规 管理层的环境和经济意识以及竞争对手的外部压力增加了资源效率低下的可能性。最后，技术和组织能力减轻了利益相关者压力对资源效率投资的影响。