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Dimensions of Loan Dependency among Government Employees of the Municipality of Sulop, Davao Del Sur: An Exploratory Factor Analysis

Author

Listed:
  • Felmark S. Levara

    (College of Development Management,University of Southeastern Philippines)

  • Krizia Paula P. Catubig

    (College of Development Management,University of Southeastern Philippines)

  • Kent Jhan M. Embodo

    (College of Development Management,University of Southeastern Philippines)

  • Melanie Joy Malajos

    (College of Development Management,University of Southeastern Philippines)

  • Lilian A. Sardanas

    (College of Development Management,University of Southeastern Philippines)

  • Dr. Silverio V. Magallon, Jr.

    (College of Development Management,University of Southeastern Philippines)

Abstract

Loan dependency is a symptom of poor financial health that can harm a person’s physical and mental health. This research intends to explore the dimensions of loan dependency among government employees. This study utilized a quantitative, non-experimental research method employing the Exploratory Factor Analysis technique involving 100 government employees from the Municipality of Sulop, Province of Davao del Sur. A researcher-made questionnaire was developed from in-depth interviews with ten government employees with different government positions, including a literature review and related studies have been employed. To validate the questionnaire, researchers used Cronbach’s Alpha. The questionnaire scored .856 on Cronbach’s Alpha Based on Standardized Items, accepting the set questionnaire as reliable. Using the Exploratory Factor Analysis (EFA), 19 item statements passed within the threshold of >0.40. The result shows that- accessibility and affordability, financial needs and responsibilities, specific purchases and investments, and personal goals and aspirations are the dimensions that make government employees dependent on loans.

Suggested Citation

  • Felmark S. Levara & Krizia Paula P. Catubig & Kent Jhan M. Embodo & Melanie Joy Malajos & Lilian A. Sardanas & Dr. Silverio V. Magallon, Jr., 2024. "Dimensions of Loan Dependency among Government Employees of the Municipality of Sulop, Davao Del Sur: An Exploratory Factor Analysis," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(4), pages 92-104, April.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:4:p:92-104
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    References listed on IDEAS

    as
    1. Corpus, John Paul & Debuque-Gonzales, Margarita, 2021. "Understanding and Measuring Financial Inclusion in the Philippines," Discussion Papers DP 2021-37, Philippine Institute for Development Studies.
    2. Lana O. Beasley & Jens E. Jespersen & Amanda S. Morris & Aisha Farra & Jennifer Hays-Grudo, 2022. "Parenting Challenges and Opportunities among Families Living in Poverty," Social Sciences, MDPI, vol. 11(3), pages 1-16, March.
    Full references (including those not matched with items on IDEAS)

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