Dimensionality Analysis of Entrepreneurial Resilience amid the COVID-19 Pandemic: Comparative Models with Confirmatory Factor Analysis and Structural Equation Modeling

Abstract

Several previous empirical research studies have defined and operationalized entrepreneurial resilience (ENTR-RISC) as either a construct with multiple dimensions or a construct with a single dimension. While only a few previous research studies have assessed some components of the presumed dimensionality of ENTR-RISC, no research has attempted to assess the dimensional structure of ENTR-RISC amid the COVID-19 pandemic using different alternative competing models. In order to acquire a deeper understanding of the dimensional characteristics of the ENTR-RISC construct, this research assessed its dimensionality by comparing existing models’ goodness of fit (GoF), and the best model that fitted the data was further tested using various confirmatory factor analysis (CFA) models (a second-order factor model, an oblique first-factor model, and a single-factor model) on quantitative data gathered from 590 SME entrepreneurs in Kingdom of Saudi Arabia (KSA). The results of analyzing the tested models via structural equation modeling (SEM) and the AMOS program indicated that the ENTR-RISC construct has a multidimensional three-factor structure. Even though this research helps in the advancement of ENTR-RISC practice and theory, further research is required to test the dimensionality of ENTR-RISC in greater depth. The findings of this study may encourage further research on this topic and stimulate a much-needed discussion on the dimensional structure of the ENTR-RISC concept.