Exploratory and confirmatory factor analysis of digital entrepreneur skills

Abstract

Research in the field of entrepreneurship has become an intriguing area for further investigation. In an era where digital advancements are ubiquitous, previous researchers have identified a gap: the lack of a specific instrument to identify digital entrepreneur skills. Therefore, this study aims to determine the constructs of students’ digital entrepreneur skills. The analysis techniques include confirmatory factor analysis (CFA), exploratory factor analysis (EFA), Pearson correlation, Kendall’s, Spearman’s, and Cronbach’s alpha. The study was conducted over five phases with 235 participants from university students in Indonesia who run or own a business. The results revealed strong instrument validity with robustness ranging from significant Pearson, Kendall’s, and Spearman’s analyses (<0.05) and Cronbach’s alpha (>0.60). The exploratory factor analysis indicated a Kaiser-Meyer-Olkin value of 0.954 (>0.05) and Bartlett’s test (0.000 < 0.05), with all items having values of anti-image (>0.50), communalities (> 0.50), and factor loadings (> 0.40), uncovering three components. Lastly, the CFA demonstrated an overall good fit model, with high first-order factor loadings (>0.60) and a second-order construct digital entrepreneur skills comprising three components: interpersonal digital skills with a factor loading of 0.890, idea and technology management skills (0.920), and adaptation and innovation skills (1.020). The study highlights the critical need for students to develop digital entrepreneurial skills encompassing interpersonal digital skills, ideation, and technology management, as well as adaptation and innovation abilities to thrive in the digital economy and enhance their personal and professional growth. AcknowledgmentI want to thank all those who have helped make this research a success, especially for Sebelas Maret University as a place of affiliation and all respondents willing to participate in my study.