Identifying and Analyzing the Promotion of School Principals’ Financial Literacy Using Grounded Theory and Confirmatory Factor Analysis
Keywords:
Financial literacy, school principals, grounded theory, confirmatory factor analysis, paradigmatic model, educational managementAbstract
This study aimed to identify the dimensions and components of promoting school principals’ financial literacy and to validate the resulting paradigmatic model through confirmatory factor analysis. This applied study employed an exploratory mixed-methods design. In the qualitative phase, grounded theory based on Strauss and Corbin’s systematic approach was used. Data were collected through semi-structured interviews with 18 participants, including experienced school principals, university faculty members, and financial specialists in education. Qualitative data were analyzed through open, axial, and selective coding. In the quantitative phase, a researcher-made questionnaire was developed based on the concepts extracted from the qualitative findings and distributed among 250 school principals in Tehran. Quantitative data were analyzed using confirmatory factor analysis and model-fit indices in AMOS version 24. The confirmatory factor analysis indicated that all constructs of the model demonstrated acceptable construct validity, composite reliability, and convergent validity. Standardized factor loadings for causal conditions, the central phenomenon, strategies, intervening conditions, contextual conditions, and outcomes were within acceptable and statistically significant ranges. All reported T-values exceeded 1.96, and significance levels were below .001. Composite reliability values ranged from .929 to .952, while average variance extracted values ranged from .701 to .767, indicating strong internal consistency and convergent validity. The goodness-of-fit indices also confirmed the adequacy of the measurement models, with χ²/df ranging from .987 to 2.964, CFI from .994 to .997, NFI from .991 to 1.000, and RMSEA from .000 to .072. The validated model provides a scientific and practical framework for designing financial empowerment programs, developing school financial management guidelines, and enhancing transparency, accountability, and resource efficiency within the educational system.
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Copyright (c) 2025 Masoumeh Ghotbizadeh, Mansour Momeni, Ali Mahmoudi (Author)
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