Adaptation and validation of the financial stress scale in social conflict contexts: a study conducted with small and medium-sized Peruvian entrepreneurs
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Connects with: @heo2020 @ryu2023 @tito-betancur2021
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construct defined as an organism’s response to a situation perceived as threatening or challenging
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the literature reveals that the psychological costs of owning and managing a small and mediumsized enterprise do not depend so much on the position, but on the individual capacity for adaptation and, more particularly, on the perception of control over the environment (Fernet et al., 2016)
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managers of small and medium-sized enterprises (SMEs) in Peruvian territory
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2,242
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The base instrument for this adaptation corresponds to the Financial Stress Scale (EFEmp-Cov19) designed for Peruvian small and medium-sized entrepreneurs (Tito-Bentancur et al., 2021).
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he scale was initially applied to 500 small and mediumsized entrepreneurs, and an exploratory factor analysis was carried out. Then, it was applied to another 1742 small and medium-sized entrepreneurs for confirmatory factor analysis
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After analyzing the Kaiser-Meyer-Olkin index (KMO = 0.962) and Bartlett’s test (5434.3, df = 55, p < 0.001), which yielded satisfactory results, an EFA was conducted. The unweighted least squares method with promin oblique rotation was used, and for factor determination, parallel analysis was used, which revealed the existence of a single factor underlying the 11 items. The rotated solution explains 77.10% of the total explained variance.
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The structural model was validated, showing good fit indices as seen in Table 5 (χ2 = 262.73, df = 23, p < 0.001; RMR = 0.022; TLI = 0.972; CFI = 0.980; and RMSEA = 0.072). In summary, the 9-item, single-factor model was satisfactory (Figure 1).
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Omega coefficient, which reported a value of ω = 0.92, indicative of a good level of scale reliability.