The relationships resulting from the dichotomization of multivariate normal data is a question that causes concern when using exploratory factor analysis. The relationships in an exploratory factor analysis are examined when multivariate normal data, generated by Monte Carlo methods, is dichotomized.
Novak, R. S., & Marques, J. M. (2017). Study Evaluating the Alterations Caused in an Exploratory Factor Analysis when Multivariate Normal Data is Dichotomized. Journal of Modern Applied Statistical Methods, 16(2), 604-617. doi: 10.22237/jmasm/1509496380