Multigroup Exploratory Factor Analysis of Entrepreneurial Characteristics
Differences by Firm Size and Revenue in Japan
DOI:
https://doi.org/10.52731/lbds.v006.492Keywords:
Entrepreneurial Characteristics, Entrepreneurial Ecosystems, Mindset and Skillset, Entrepreneur, EntrepreneurshipAbstract
Latent structure of entrepreneurial characteristics in Japan by integrating internal factors (mindset/skillset) and external factors that constitute the entrepreneurial ecosystem (EE). Building on a qualitative model (EC model), we fielded a June 2025 survey of entrepreneurs (n=604) and conducted exploratory factor analyses (ML extraction, Promax rotation) for the full sample and subgroups by employee size (1–5 vs. ≥6) and annual revenue (<¥50M vs. ≥¥50M). To enable cross-group comparability, dimensionality was fixed at five, guided by free-exploration criteria. Item adoption primarily used |loading|≥.40 with theory-guided handling of cross-loadings. Results indicate label-level reproducibility of Public Support and Innovation Execution, but limited item-level overlap, and a con-text-dependent factor (F3) whose composition shifts with scale. Congruence with the full solution is high for the employee split (e.g., φ≈.998; .976) but weaker for the lower-revenue group, while reliability generally exceeds practical thresholds. These findings imply that interventions should combine a minimal common core with stage-specific modules, and that factor comparisons should be anchored to labels rather than numbers. We outline a path toward multigroup CFA for measurement invariance and structural equation modeling to test mediation and moderation, moving from uniform, average-case policies to scale-appropriate design. Implications for policy and practice follow.
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