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Adaptation and validation of the financial stress scale in social conflict contexts: a study conducted with small and medium-sized Peruvian entrepreneurs
Author(s)
Tito-Betancur, Madona
Universidad Tecnológica del Perú
Universidad Señor de Sipán
Date Issued
14 de diciembre de 2023
Type
Article
Volume
14
Series/Report No.
Frontiers in Psychology
Start Page
1241005
End Page
1241005
ISSN
1664-1078
Abstract
Introduction Social conflicts have repercussions on the mental health of the economically active population. Objective To adapt and validate the Financial Stress Scale in the context of social conflicts (ESECPS). Method An instrumental study involving 2,242 owners of small and medium enterprises (50.9% women), aged between 18 and 74 years old, selected through a non-probabilistic purposive sampling. The participants were recruited across three regions of Peru during periods of protests and strikes against the incumbent Peruvian government. The instrument for adaptation was the financial stress scale EFEmp-Cov19, created in the context of the COVID-19 pandemic’s impact. Results All items proved to be clear, relevant, and representative (V > 0.70). Exploratory Factor Analysis (EFA) revealed the existence of one underlying factor across the 11 items (KMO = 0.962, Bartlett = 5434.3; df = 55; p < 0.001). However, for Confirmatory Factor Analysis (CFA), items 4 and 11 were removed, resulting in support for a unidimensional model with 9 items ( χ 2 = 262.73, df = 23, p < 0.001; RMR = 0.022; TLI = 0.972; CFI = 0.980; and RMSEA = 0.072). Regarding reliability, a very high value was found ( ω = 0.92). Conclusion The ESECPS demonstrates adequate psychometric properties, making it a suitable measure to assess financial stress among Peruvian entrepreneurs facing economic instability and financial threats in the context of social conflicts.