To evaluate validity of a formative indicator to a latent variable, Bollen (1989) page 222 says to calculate proportion of the variance in the latent variable that is uniquely attributable to the formative indicator. Does anyone know how to evaluate that?
McKenzie et al 2011 says this is calculated by subtracting the proportion of variance in the latent variable accounted for by all of the indicators except the one in question from the proportion of variance in the latent variable accounted for by all of the indicators including the one in question. However, it seem smartPLS gives 100% as the proportion of variance accounted for in a formative construct. Can smartPLS be used to obtain proportion of variance accounted for by its formative indicators?