Factors Underlying the Decision to Rent Space at a Shopping Center at Nakhon Ratchasima Province in Thailand: Using Exploratory Factor Analysis
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Abstract
The shopping center business in Thailand is huge. To optimize the occupancy rate, shopping center managers must learn what factors influence shop tenants’ decisions to rent space in order to sell their products and services. Thus, the domain of interest of this research study was to explore factors underlying the decision to rent space (DTRS). Based on a survey of existing literature, a few studies have focused on this very important topic. Furthermore, those studies employed only descriptive statistics (e.g. means and standard deviation). However, advanced multivariate statistics (i.e. exploratory factor analysis) could be used advantageously to determine what factors influence the decision to rent. The main objective of this study was to explore factors underlying the decision to rent space of shop tenants using exploratory factor analysis (EFA) in the R Package. Two hundred questionnaires were collected from tenants at a popular shopping center in the north-eastern part of Thailand and analyzed using EFA.
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