The Confirmatory Factor Analysis: Factors affecting competency and job performance of financial advisors in The Life Insurance industry
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Abstract
The study aims to analyze confirmatory factors of factors affecting competency and job performance of financial advisors in The Life Insurance industry. Conducting a review of relevant literature to design the conceptual framework, the researcher created and developed a research tool by analyzing the accuracy by IOC and pre-test. Data were collected from 30 financial advisors from in the life insurance industry. The results of the development of tool was in accordance with the research methodology, with a Cronbach’s alpha value greater than 0.8. The researchers collected data 315 samples from financial advisors in the life insurance industry having 21 endogenous variables observed in the model. Therefore, the appropriate size of the samples being used for the formation of Structural Equation Model (SEM) was 10-20 times. The researcher, therefore, used the sample size 15 times of the variables.
The result indicated that factors affecting competency and job performance of financial advisors in the life insurance industry consist of input factors that are exogenous variables such as business resources, knowledge management and human resource development and endogenous variables, namely, competency and job performance. The confirmatory factor analysis indicated that all factors were consistent with the empirical data. Elements of each variable are able to measure and evaluate variables appropriately.
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Academic articles, research articles, and book reviews in the Ph.D. in Social Sciences Journal are author’s opinions, and not the publisher’s, and is not the responsibility of the Ph.D. in Social Sciences Journal Philosophy Association, Ramkhamhaeng University. (In the case that research is done on human, the researcher has to be trained in Ethics for Doing Research on Human Training and has to produce the evidence of the training).
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