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Principal Component and Factor Analysis

In: Market Research

Author

Listed:
  • Erik Mooi

    (University of Melbourne)

  • Marko Sarstedt

    (Otto-von-Guericke-University)

  • Irma Mooi-Reci

    (University of Melbourne)

Abstract

We first provide comprehensive and advanced access to principal component analysis, factor analysis, and reliability analysis. Based on a discussion of the different types of factor analytic procedures (exploratory factor analysis, confirmatory factor analysis, and structural equation modeling), we introduce the steps involved in a principal component analysis and a reliability analysis, offering guidelines for executing them in Stata. Specifically, we cover the requirements for running an analysis, modern options for extracting the factors and deciding on their number, as well as for interpreting and judging the quality of the results. Based on a step-by-step description of Stata’s menu options and code, we present an in-depth discussion of each element of the Stata output. Interpretation of output can be difficult, which we make much easier by means of various illustrations and applications, using a detailed case study to quickly make sense of the results. We conclude with suggestions for further readings on the use, application, and interpretation of factor analytic procedures.

Suggested Citation

  • Erik Mooi & Marko Sarstedt & Irma Mooi-Reci, 2018. "Principal Component and Factor Analysis," Springer Texts in Business and Economics, in: Market Research, chapter 8, pages 265-311, Springer.
    • Handle: RePEc:spr:sptchp:978-981-10-5218-7_8
    DOI: 10.1007/978-981-10-5218-7_8
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    Citations

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    Cited by:

    1. Bo Li & Rita Yi Man Li & Thitinant Wareewanich, 2021. "Factors Influencing Large Real Estate Companies’ Competitiveness: A Sustainable Development Perspective," Land, MDPI, vol. 10(11), pages 1-20, November.
    2. Warren Dodd & Marvin Gómez Cerna & Paola Orellena & Sally Humphries & Margaux L. Sadoine & David Zombré & Kate Zinszer & Amy Kipp & Donald C. Cole, 2020. "Factors Associated with Seasonal Food Insecurity among Small-Scale Subsistence Farming Households in Rural Honduras," IJERPH, MDPI, vol. 17(3), pages 1-16, January.
    3. Fabel, Oliver & Mináriková, Dana & Hopp, Christian, 2022. "Differences and similarities in executive hiring decisions of family and non-family firms," Journal of Family Business Strategy, Elsevier, vol. 13(2).
    4. Manh‐Tien Bui & Thai‐Ha Le & Donghyun Park, 2023. "Impacts of fiscal decentralization on local development in Vietnam: A disaggregated analysis," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 31(1), pages 3-31, January.
    5. Jacqueline Moodley, 2021. "Heterogeneity in Disability and the Quality of Life of South African Children," Child Indicators Research, Springer;The International Society of Child Indicators (ISCI), vol. 14(3), pages 1227-1249, June.
    6. Andrea Benecchi & Carlo Bottoni & Emanuela Ciapanna & Annalisa Frigo & Aldo Milan & Elisa Scarinzi, 2023. "Digitalisation in Italy: Evidence from a New Regional Index," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 169(1), pages 23-54, September.
    7. Luca Andriani & Gaygysyz Ashyrov, 2022. "Corruption and life satisfaction: Evidence from a transition survey," Kyklos, Wiley Blackwell, vol. 75(4), pages 511-535, November.
    8. TJ Friderichs & F. M. Correa, 2022. "Measuring human capital in South Africa across socioeconomic subgroups using a latent-variable approach," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 164(3), pages 1161-1185, December.
    9. Le, Thai-Ha & Han, Phoumin & Le, Ha-Chi & Bui, Manh-Tien, 2023. "Electricity market development in Vietnam: Historical trends and future outlooks," Utilities Policy, Elsevier, vol. 81(C).

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