The EFA identified only one dimension for this
variable.
The last example concerns the quality of financial
markets. In thisarticle, the quality of a given financial
market is thus an evaluation of its various key
components which imply that capital is easy to access
for firms. Therefore, the quality of a financial market
is higher when banks have more money to lend,
when it is easier to have access to foreign banks,
when it is easier to have access to non-bank equity
investors and when there is lower bank paperwork
and bureaucracy to get a loan. For all the previous
items, questions were asked to the respondents using
a scale of 1-to-6 (1 for low and 6 for very high). An
example of a question is ‘‘Can you tell how problematic
the bank paperwork and bureaucracy are for
the operations and growth of your institution?’’ The
EFA across the five questions showed a strong
convergence with a Cronbach’s a of 0.8154. The
EFA identified only one dimension for this variable.