The Testing of the Reliability and Validity of Accounting and Financial Skills Measures: An Empirical Evidence of Thai Dairy Farm Entrepreneurs
Keywords:Accounting skill, Financial skill, diary farm businesses
Despite the dissimilarity and diversity of management functional skills, especially accounting and financial skills in modern entrepreneurs, there is a lack of acceptably valid and reliable accounting and financial skills assessment scales. This study measures the reliability and constructs validity of an accounting and financial measurement scale created based on existing measures of accounting skills and financial skills. The data was gathered from 240 entrepreneurs from dairy farm businesses in Thailand by using questionnaires. The results from an exploratory factor analysis (EFA) demonstrated significantly better reliability and factor stability for the revised scale in comparison to existing instruments. Based on these results, both scales appear to be a reasonably reliable and valid instrument for the measurement of accounting and financial skills, competencies, and capabilities. The implications of the findings are discussed in the development of accounting and financial skill factors and future research.
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