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Charity can still begin at home: Examining the drivers and boundary conditions of Africa-to-Africa outward foreign direct investment (OFDI)

Author

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  • Owusu-Yirenkyi, Diana
  • Akolgo, Portia M.
  • Naab, Gilbert Zana
  • Donbesuur, Francis
  • Danso, Albert

Abstract

Recent studies on ‘Africa Rising’ and ‘Africa-to-Africa Internationalization’ have propelled conversations on how African Small and Medium-Sized Enterprises (SMEs) can continue to internationalize within African countries. From the tenets of the institutional theory and the dynamic capabilities perspectives, this study proposes and tests a framework of how and when dysfunctional competition drives SMEs' outward foreign direct investments within African countries. Analysis of a survey data from 196 Ghanaian SMEs operating across the African continent indicates that cross-border open innovation mediates the relationship between dysfunctional competition and SMEs' intra- Africa OFDI activities. Further analysis revealed that SMEs' strategic agility plays a double-edged sword moderating role in enhancing the effects of dysfunctional competitions and cross-border open innovation on intra-Africa OFDI. These findings have significant implications for the international business and finance literature as well as the management and growth of African SMEs.

Suggested Citation

  • Owusu-Yirenkyi, Diana & Akolgo, Portia M. & Naab, Gilbert Zana & Donbesuur, Francis & Danso, Albert, 2024. "Charity can still begin at home: Examining the drivers and boundary conditions of Africa-to-Africa outward foreign direct investment (OFDI)," Journal of International Management, Elsevier, vol. 30(1).
    • Handle: RePEc:eee:intman:v:30:y:2024:i:1:s1075425323001059
    DOI: 10.1016/j.intman.2023.101108
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