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TECHNIQUES INRESEARCHMETHODOLOGY
Dr. CA. V. Gopalan, B, Com, FCA, ACMA, ACS, PhD
Chartered Accountant, [email protected]
COVERAGE
¢ Introduction to Research Methodology¢ What is ‘Research’ explained¢ Various stages of ‘Research’¢ Research Problem¢ Research Topic¢ Review of Literature¢ Research Design¢ Sampling Design¢ Research Hypothesis¢ Data Collection and Data Analysis¢ Types of Research¢ Criteria for Good Research¢ Conclusion
INTRODUCTION TO ‘RESEARCH METHODOLOGY’¢ The main objective of ‘Research methodology’ is to
systematically solve the research problem.
¢ Towards achieving the main objective, the methodology covers various steps that are generally adopted by a researcher in studying his research problem along with the logic behind them.
¢ Researchers not only need to know � how to develop certain indices or tests, � how to calculate the mean, the mode, the median or the standard,
deviation or chi-square, or regression analysis, or� how to apply particular research techniques
But, they also need to know which of these methods or techniques are relevant and which are not and
what would they mean and indicate and why.
WHAT IS ‘RESEARCH’?¢ ‘Research’ is :
� the systematic and scientific process
¢ of collecting and analysing - information and data
� in order to increase the level of understanding
¢ of a phenomenon taken for study.
¢ Primary Vs Secondary Research
� Primary research is information gathered through self-conducted research methods, while secondary research is information gathered from previously conducted studies.
� Secondary research is usually where most research begins.
VARIOUS STAGES OF RESEARCH
Identify the Problem
Literature Review
Narrow down scope of study
Hypotheses and its formulation
Design the Research Plan
Sampling Design and Scaling techniques
Data CollectionData Analysis
Testing Hypothesis
Interpretation of results Report writing
RESEARCH PROBLEM
¢ The research problem is the first step towards knowing exactly what is to be done and why.
¢ Without a well-defined research problem, we are likely to end up with an unfocused and unmanageable project or repeating what other people have already done.
¢ Example of practical research problems
¢ Why is productivity in Japan so much higher than in India?� Number of ambiguities:
¢ What sort of productivity is being referred to? Value or volume or labour?¢ With what industries the same is related?¢ With what period of time the productivity is being talked about?
RESEARCH PROBLEM : REFINED AND NARROWEDDOWN
¢ What factors were responsible for the higher labourproductivity of Japan’s manufacturing industries during the decade 1971 to 1980 relative to India’s ?
� Certainly better. But, still scope for improvement!
¢ To what extent did labour productivity during 1971 to 1980 in Japan exceed that of India in respect of 15 selected manufacturing industries?
� Much better.� Researcher must ensure availability of data for the select
period, select industries etc.
RESEARCH PROBLEM -HOW IT STARTED AND HOW ENDED?
¢ Corporate re-structuring¢ Mergers & Acquisitions¢ Domestic Vs Cross border M&As¢ Inbound Vs Outbound¢ Time span¢ Basis of selection of Cases
� Countries� Past track record of acquirer� Market capitalisation above INR ---- crores
¢ Purpose of study - technology ? Market share ? Brand building? Tax considerations? Others?
¢ Finally, what was the topic of the research?
HOW TO SELECT A RESEARCH TOPIC?¢ Selecting a good topic may not be easy.
¢ It must be narrow and focused enough to be interesting, yet broad enough to find adequate information.
¢ Before selecting your topic, make sure you know what your final project should look like.
¢ When deciding on a topic, there are a few things that you will need to do:� brainstorm for ideas� choose a topic that will enable you to read and understand the literature� ensure that the topic is manageable and that material is available� make a list of key words� be flexible� define your topic as a focused research question� research and read more about your topic� formulate a thesis statement
¢ The topic of the research was: � “Financial implications and outcomes of cross border outbound acquisitions from India
between 2004 and 2009 – a study based on select cases”
RESEARCH PROBLEM¢ Context and background
� Who does the problem affect?� Has it been an issue for a long time, or is it a newly discovered problem?� What research has already been done?� Have any solutions been proposed?� What are the current debates about the problem, and what do you think is
missing from them?
¢ Specificity and relevance� What particular place, time and/or people will you focus on?� What aspects will you not be able to tackle?� What will be the consequences if the problem is not resolved?� Whose will benefit from resolving the problem (e.g. the management of an
organization or future researchers)?
¢ Example of a specific research problem� Non-profit organization NGO has been focused on retaining its existing support
base, but lacks understanding of how best to target potential new donors. To be able to continue its work, the organization requires research into more effective fundraising strategies.
¢ When you have narrowed down your problem, the next step is to formulate a problem statement and research questions or hypotheses.
REVIEW OF LITERATURE
When you write a thesis, dissertation or research paper, you will have to conduct a literature review to situate your research within existing knowledge.
The literature review gives you a chance to:
� Demonstrate your familiarity with the topic and scholarly context
� Develop a theoretical framework and methodology for your research
� Position yourself in relation to other researchers
� Show how your research addresses a gap
REVIEW OF LITERATURE¢ A literature review is a comprehensive summary of previous
research on a topic. The literature review surveys scholarly articles, books and other sources relevant to a particular area of research.
¢ The review should enumerate, describe, summarize, objectively evaluate and clarify this previous research.
¢ It should give a theoretical base for the research and help the researcher determine the nature of research.
¢ The literature review acknowledges the work of previous researchers and in so doing, assures the reader that your work has been well conceived.
¢ It is assumed that by mentioning a previous work in the field of study, that the author has read, evaluated and assimilated that work into the work at hand.
RESEARCH DESIGN DECISIONS
¢ It constitutes the blueprint for the collection, measurement and analysis of data.
¢ Research Design covers:� What is the study about?� Why is the study being made?� Where will the study be carried out?� What type of data is required?� Where can the required date be found?� What periods of time will the study include?� What will be sample design?� What techniques of date collection will be used?� How will the data be analysed?� In what style will the report be prepared?
SAMPLING DESIGN¢ Population /Universe: eg. Total of 10,000 patients, 100 each in 100
hospitals (100*100) ¢ Finite or Infinite population. In this case it is Finite.¢ Sample : 900 patients (30 each drawn from select 30 hospitals)¢ Small sample or large sample. In this case it is large sample¢ Test varies according to sample¢ T test for small sample¢ Z test for large sample¢ Parameter – statistical values related to population¢ Statistic – statistical values related to sample¢ Parametric tests – assumptions made regarding characteristics of
population¢ Non parametric tests – assumptions made not relating to population¢ Hypothesis – assumption yet to be tested of dependent and
independent variables
RESEARCH HYPOTHESIS¢ A hypothesis is a statement about the relationship between two or more
variables.
¢ For example, a study designed to look at the relationship between sleep deprivation and performance in exam.
¢ So, Hypothesis is: � "This study is designed to assess the hypothesis that sleep deprived people will
perform worse on a test than individuals who are not sleep deprived.“
¢ When conducting an experiment, researchers might explore a number of factors to determine which ones might contribute to the ultimate outcome.
¢ In many cases, researchers may find that the results of an experiment do not support the original hypothesis.
¢ When writing up these results, the researchers might suggest other options that should be explored in future studies.
HOW DO RESEARCHERS COME UP WITH AHYPOTHESIS?
¢ In many cases, researchers might draw a hypothesis from a specific theory or build on previous research. � For example, "People with high-stress levels will be more
likely to contract a common cold after being exposed to the virus than are people who have low stress levels.“
¢ Commonly held beliefs: "Birds of a feather flock together”.
¢ Specific hypothesis: "People tend to select partners who are similar to them in interests and educational level."
HYPOTHESIS EXAMPLES
¢ A few examples:
¢ "Students who eat breakfast will perform better on a math exam than students who do not eat breakfast.“
¢ "Students who experience test anxiety prior to English exam will get higher scores than students who do not experience test anxiety."
¢ "Motorists who talk on the phone while driving will be more likely to make errors than those who do not talk on the phone.“
CHARACTERISTICS OF HYPOTHESIS
¢ Conceptual clarity – clear and precise¢ Specificity – to be specific and limited in scope¢ Consistency – with the objective of the research¢ Testability – to be capable of being tested¢ Expectancy – should state the expected relationship
between variables¢ Simplicity – to be stated in simple terms¢ Objectivity – no value judgements, no moral preachings,
no relative terms¢ Theoretical relevance – should be consistent with
established or known facts or existing theory¢ Availability of techniques –statistical methods should be
available for testing the hypothesis
SOURCES OF HYPOTHESIS
¢ Review of similar studies
¢ Discussion with experts about a problem, its origin and objectives in seeking a solution
¢ Examination of data and records for possible trends and peculiarities
¢ Logical deduction from exiting theories
¢ Continuity of research
¢ Intuition from personal research
TYPES OF HYPOTHESIS
¢ DESCRIPTIVE HYPOTHESIS: Propositions that state the existence, size, form or distribution of some variable. Variable can be object, person, organization, situation or event.� Eg: The rate of unemployment among arts students are high
The education system is not oriented to the human resource needs of the country.
¢ RELATIONAL HYPOTHESIS is one that suggests variables are related in some way. � Eg. a significant relationship exists between smoking and
obesity. � Or, Rise in petrol prices causes an increase in the number of
people who carpool to work.
NULL HYPOTHESIS¢ The null hypothesis states there is no relationship
between the measured phenomenon (the dependent variable) and the independent variable.
¢ For eg. The ‘null hypothesis’ is that there is no linear relationship between EBIDTA and Revenue in the population of the quarterly financial performance of the cases selected for the study between a year immediately preceding acquisitions reported by the respective cases and the year ended March 31, 20XX).
¢ If there is relationship, then the ‘null hypothesis’ is rejected.
IMPORTANCE OF DATA AND DATA COLLECTION INRESEARCH
¢ Data is one of the most important and vital aspect of research studies.
¢ Researches conducted in different fields of study may be different in methodology but every research is based on data which is analysed and interpreted to get information.
¢ Date is the basic unit in statistical studies.
¢ Statistical information like census, population variables, health statistics and road fatalities are all developed from data.
DATA ANALYSIS
¢ There are many types of data analysis.
¢ Some of them are more basic in nature, such as descriptive, exploratory, inferential, predictive and causal.
¢ Some, however, are more specific
� qualitative analysis, which looks for things like patterns and colors, and
� quantitative analysis, which focuses on numbers.
TYPES OF RESEARCH
¢ There are 5 important types of research :
� Descriptive vs. Analytical
� Applied vs. Fundamental
� Quantitative vs. Qualitative
� Conceptual vs. Empirical
� Others
DESCRIPTIVE VS. ANALYTICAL
¢ The surveys and fact-finding investigations of distinct types come under descriptive research.
¢ For example, we might ask whether a specific academic intervention, like online coaching, caused an effect, such as an increase in student performance, in a group of students.
¢ (or) Examining the fluctuations of India’s international trade balance during 2000-2019 is an example of descriptive research
¢ In analytical research, a researcher must avail data which already exists to make an accurate evaluation.
¢ Eg, Explaining why and how India’s trade balance move in a particular direction over time is an example of analytical research.
APPLIED VS. FUNDAMENTAL¢ The objectives of the applied research are to search an answer
for the difficulty which is faced by a firm or a society. Studies to find solutions to the problems.
� A study into the ways of improving the levels of customer retention by IT Sector in India.
� An investigation into the ways of improving employee motivation in Marriot Hotel, Hyde Park.
¢ The feature of collecting knowledge for the sake of knowledge is best suited to fundamental research.
� A critical analysis of product placement as an effective marketing strategy.
� An investigation into the main elements of brands and branding.� A study of factors impacting each stage of product life cycle.
CONCEPTUAL VS. EMPIRICAL
¢ The conceptual research is concerned with ideas and theories.
� The most famous example of a conceptual research is Sir IssacNewton. He observed his surroundings to conceptualize and develop theories about gravitation and motion.
¢ Empirical research is defined as any research where conclusions of the study is strictly drawn from concretely empirical evidence, and therefore “verifiable” evidence.
� The phrase empiric evidence is not restricted to science, In court, a lawyer may say, “I have empiric evidence my client could not have committed the crime. Here is a photograph of him at a convention a thousand miles away from the scene of the crime. There are seven witnesses that will swear he was at the convention the day of the crime.”
FEW OTHER TYPES OF RESEARCH
Other research type includes few changes when compared with the types of research explained above and those changes occur by depending on the current conditions. So, in this category we can think of the following research:
¢ Longitudinal research¢ Laboratory research¢ Simulation research¢ Diagnostic research¢ Historical research
CRITERIA OF GOOD RESEARCH¢ 1. The purpose of the research should be clearly defined and common concepts be
used.
¢ 2. The research procedure used should be described in detail to permit another researcher to repeat the research for further advancement, keeping the continuity of what has already been attained.
¢ 3. The procedural design of the research should be carefully planned to yield results that areas objective as possible.
¢ 4. The researcher should report with complete frankness, flaws in procedural design and estimate their effects upon the findings.
¢ 5. The analysis of data should be sufficiently adequate to reveal its significance and the methods of analysis used should be appropriate.
¢ 6. The validity and reliability of the data should be checked carefully.
¢ 7. Conclusions should be confined to those justified by the data of the research and limited to those for which the data provide an adequate basis.
CONCLUSION¢ Motivation for the study
¢ Objectives of the research study
¢ Major findings of the study
¢ Overall findings of each case studied
¢ Regression analysis
¢ Implications of this study
¢ Policy Suggestions
¢ Limitations of the study
¢ Scope for future scope
THANK YOU
BE SAFE DURING THIS COVID-19
Dr CA V.Gopalan, B,Com, FCA, ACMA, ACS, PhD
Chartered Accountant [email protected]
