There is the need to integrate SMEs into the high-value Oil and Gas Sector to enhance socioeconomic development of Ghana particularly Job creation and Gross Domestic Product (GDP) growth. This study examined the impact of external business environment on SMEs willingness to invest in the Ghanaian oil and Gas Sector. Using binomial logistic regression analysis we analyzed primary data from 245 SMEs from Ghana during the periods between 2015-2016. The study found that SMEs that had ready access to finance, reliable electrical supply, required technical qualification, no competition from foreign companies, well informed on Oil and Gas investment opportunity were more likely to invest in Ghanaian oil and gas sector. We also find that corruption perception, political stability and training support in the capacity building had no significant influence on SMEs willingness to invest. We suggest that future studies should cover internal firm factors, perceived barriers as well as macro-level factors. Also, the study was limited to Ghanaian SMEs, future researchers may replicate this study in other oil-producing countries in Africa including;
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 variancebased 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 ABOUT THE AUTHORS
Many government policies contain recommendations how to improve financial literacy, particularly through programmes of financial education and personal finance. However, personal financial management is not solely related to knowledge and financial literacy; individual confidence level in own financial abilities and household differences need to be considered in this regard. This paper investigates household financial efficacy through application of psychometric instruments, financial literacy, risk preference and demographic characteristics towards saving decision behaviour. The sample covers 404 households in Peninsular Malaysia and utilises the logistic and probit empirical model. The results show that household's financial efficacy is essential for household's saving decision behaviour and choice of saving instrument. Financial literacy, race, education and dependence ratio and location (rural or urban) of the household also play a role in saving instruments selection. More specifically, households with higher levels of financial efficacy are more likely to use bank-based or other lower risk saving instruments as compared to nonbanking-based instruments.
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