TABLE 6.

Confirmatory factor analysis and reliability.

Constructs	Items with standard factor loadings		KMO	CR	Cronbach’s alpha	AVE
Money avoidance (MA)	MA1 = 0.649 MA2 = 0.721 MA3 = 0.567 MA4 = 0.547 MA5 = 0.533 MA6 = 0.512 MA7 = 0.638 MA8 = 0.607	MA9 = 0.562 MA10 = 0.573 MA11 = 0.713 MA12 = 0.637 MA13 = 0.559 MA14 = 0.504 MA15 = 0.565	0.855	0.89	0.866	0.59
Money worship (MW)	MW1 = 0.721 MW2 = 0.801 MW3 = 0.601 MW4 = 0.609 MW5 = 0.680	MW6 = 0.676 MW7 = 0.614 MW8 = 0.658 MW9 = 0.762 MW10 = 0.753	0.777	0.90	0.768	0.69
Money status (MS)	MS1 = 0.555 MS2 = 0.695 MS3 = 0.616 MS4 = 0.654 MS5 = 0.632 MS6 = 0.804	MS7 = 0.713 MS8 = 0.554 MS9 = 0.531 MS10 = 0.696 MS11 = 0.777 MS12 = 0.694	0.822	0.90	0.825	0.66
Money vigilance (MV)	MV1 = 0.615 MV2 = 0.736 MV3 = 0.693 MV4 = 0.721 MV5 = 0.771 MV6 = 0.575	MV7 = 0.822 MV8 = 0.776 MV9 = 0.595 MV10 = 0.766 MV11 = 0.565 MV12 = 0.749	0.729	0.92	0.780	0.70
Stock market participation (SMP)	SMP1 = 0.828 SMP2 = 0.772 SMP3 = 0.606 SMP4 = 0.743	SMP5 = 0.721 SMP6 = 0.757 SMP7 = 0.768 SMP8 = 0.599	0.774	0.90	0.742	0.72
Risk attitudes (RA)	RA1 = 0.688 RA2 = 0.701 RA3 = 0.720 RA4 = 0.876	RA5 = 0.694 RA6 = 0.681 RA7 = 0.862 RA8 = 0.554	0.801	0.89	0.845	0.72
Financial self-efficacy (FSE)	FSE1 = 0.771 FSE2 = 0.850 FSE3 = 0.669	FSE4 = 0.706 FSE5 = 0.588 FSE6 = 0.760	0.651	0.87	0.596	0.72
Financial knowledge (FK)	FK1 = 0.810 FK2 = 0.815 FK3 = 0.624	FK4 = 0.622 FK5 = 0.525 FK6 = 0.777	0.732	0.85	0.664	0.70

Source: Authors calculations. KMO, Kaiser-Meyer-Olkin; AVE, average variance extracted.