Ha Hoang, CB-SEM and PLS-SEM serve different purposes. Briefly put, you would use the former for testing theory (confirmatory) and the latter for developing theory (exploratory). However, if you use CB-SEM and encounter convergence issues, you can consider using consistent PLS-SEM as a valid alternative.
The covariance-bases structural equation modelling (CB-SEM) requires normal-distributed input data which implies that it needs larger data samples to run appropriately, however, the partial least square structural equation modelling (PLS-SEM) does not imply restriction for the data distribution thus allowing it to run with lower sample sizes compared to (CB-SEM).
Another difference is that if the study includes a formative construct then the (CB-SEM) is not the tool to use to develop this model. Although that (PLS-SEM) is often viewed as a useful approach for prediction purposes, however, it is still not that developed yet to be predictive as other prediction well known statistical techniques.
With my experience, I could tell that using (PLS-SEM) tends to show better results since it more challenging to collect more data to follow the data distribution restriction of the (CB-SEM).
If you are interested to use it can be applied within the R environment via the following packages:
* (CB-SEM) is also available withing R using Laavan Package.
1. semPLS
2. plspm
Here is a book that was written by the designer of the (plspm) package to illustrate how to use it.
Also, you can use the SmartPLS software, which is a very powerful software that is mainly dedicated to run the partial least square analysis.
Finally, I would like to highlight the researchers’ arguments for choosing PLS as the statistical means for testing structural equation models (Urbach & Ahleman, 2010) to give you more insight into it:
PLS makes fewer demands regarding sample size than other methods.
PLS can be applied to complex structural equation models with a large number of constructs.
PLS does not require normal-distributed input data.
PLS is able to handle both reflective and formative constructs.
PLS is better suited for theory development than for theory testing.
PLS is especially useful for prediction.
PLS can handle first and second-order together.
Based on Chin, (1998a): In the latter case, PLS is used to develop propositions by exploring the relationships between variables.