Figure 1
The structural equation model shows two latent variables, each represented by oval nodes labeled “Accountability” and “V f M”. “Accountability” is positioned at the center left with an inner value of “2.7”. From “Accountability”, eight arrows point leftward to eight rectangles arranged in a vertical series and labeled from top to bottom as follows: “A 1”, “A 2”, “A 3”, “A 5”, “A 6”, “A 7”, “A 8”, and “A 9”. These arrows are labeled “1”, “0.96”, “0.95”, “1”, “1”, “1”, “0.99”, and “1”, respectively. Each rectangle contains a numerical value in the bottom right corner. The values are as follows: “6.9”, “6.9”, “7”, “7”, “7”, “6.8”, “6.8”, and “6.9”, respectively. Each rectangle has an associated error term shown as circles labeled “epsilon 10”, “epsilon 11”, “epsilon 12”, “epsilon 13”, “epsilon 14”, “epsilon 15”, “epsilon 16”, and “epsilon 17”, respectively, positioned on the left. Individual arrows point to the rectangles, and the arrows are labeled as follows: “1.8”, “1.6”, “1.6”, “1.5”, “1.4”, “1.3”, “1.6”, and “1.6”, respectively. Curved double-headed arrows are present labeled as follows: between “epsilon 10” and “epsilon 11” is “0.65”, between “epsilon 15” and “epsilon 16” is “0.34”, and between “epsilon 16” and “epsilon 17” is “0.43”. A rightward arrow labeled “0.71” connects “Accountability” to “V f M”, positioned on the center right. From “V f M”, eight arrows point rightward to eight rectangles arranged in a vertical series and labeled from top to bottom as follows: “V 1”, “V 2”, “V 3”, “V 4”, “V 5”, “V 6”, “V 7”, and “V 9”. These arrows are labeled as follows: “1”, “0.98”, “0.94”, “1.1”, “1”, “0.89”, and “0.89”, respectively. Each rectangle contains a value in the bottom right corner. The values are as follows: “6.9”, “6.9”, “7.2”, “7.1”, “7.3”, “7.4”, “7.1”, and “7.3”, respectively. Each indicator has an associated error term shown as circles labeled “epsilon 2”, “epsilon 3”, “epsilon 4”, “epsilon 5”, “epsilon 6”, “epsilon 7”, “epsilon 8”, and “epsilon 9”, respectively, positioned on the right. Individual values are positioned to the right of the circles. The values are labeled as follows: “1.4”, “1.5”, “1.4”, “1.4”, “1”, “1”, “1.5”, and “1.8”, respectively. Individual rightward arrows point from the circles to the corresponding rectangles. Curved double-headed arrows are present, labeled as follows: between “epsilon 2” and “epsilon 4” is “0.37”, between “epsilon 4” and “epsilon 5” is “0.22”, and between “epsilon 6” and “epsilon 7” is “0.33”. An error term labeled “epsilon 1” with value “.97” points to “V f M” via a leftward arrow. The value “1.1” is positioned to its right.Structural equation model results for accountability and VFM. Source: Field data (2023)