Abstract

We present a new model to identify and prioritize factors affecting small and medium enterprises (SMEs) investment intentions by integrating existing models. Structured questionnaire is used to sample respondents from the Ghanaian SMEs between 2017 and 2018. Data analyses have been conducted using variance-based Smart Partial Least Square (SmartPLS) technique. The major findings of the study are that macro environment factors, resource competitive strategies and oil and gas policy-specific factors are the significant determinants of SMEs investment intentions. Again, the study revealed that the resource competitive strategies significantly mediate the relationship between macro environment factors, industry force, oil and gas policy support and investment intentions. These results are robust and consistent with resource-based view, theory of constraint and theory of strategic positioning. Moreover, these results contribute new knowledge towards developing investment strategy for the downstream oil and gas industry. Besides, these findings have managerial implications needed by policy makers to renew commitment and provide the needed framework to investors to enhance indigenous participation in the industry.

摘要

我们提出了一种新模型，通过整合现有模型来识别和优先考虑影响中小企业 (SME) 投资意向的因素。结构化问卷用于对 2017 年至 2018 年间加纳中小企业的受访者进行抽样。使用基于方差的智能偏最小二乘 (SmartPLS) 技术进行数据分析。研究的主要发现是宏观环境因素、资源竞争战略和油气政策特定因素是中小企业投资意向的重要决定因素。研究再次表明，资源竞争战略显着中介了宏观环境因素、行业力量、油气政策支持和投资意向之间的关系。这些结果稳健且与基于资源的观点一致，约束理论和战略定位理论。此外，这些结果为制定下游石油和天然气行业的投资战略提供了新的知识。此外，这些调查结果具有决策者需要的管理意义，以更新承诺并为投资者提供所需的框架，以加强土著参与该行业。