Measuring conscious capitalism practices: development and validation of a scale

Abstract Conscious Capitalism (CC) has gained prominence as a management approach rooted in ethical values, sustainability, and the creation of value for multiple stakeholders. Despite conceptual advancements, no validated scale currently exists to measure CC organizational practices. This study aimed to develop and validate the Conscious Capitalism Practices Scale (CCPS), grounded in established theoretical dimensions. Conducted in Brazil, the quantitative research involved two survey-based phases: a preliminary study ( n = 144) and a validation phase ( n = 391). Convergent, discriminant, and criterion validity were assessed through Confirmatory Factor Analysis and Structural Equation Modeling using SmartPLS 4 (version 4.0.9.2) and JASP (version 0.19.1). The final scale, comprising 10 factors and 43 items, demonstrated strong fit and reliability indices. The instrument contributes to the empirical operationalization of CC and offers a diagnostic tool for organizations committed to ethical and sustainable management practices.