Prepared By: M. Khurram Siddiqui Mba 3 Semester (Finance) Short Notes Research Methods (STA 630) Lesson No.1
Prepared By: M. Khurram Siddiqui Mba 3 Semester (Finance) Short Notes Research Methods (STA 630) Lesson No.1
Prepared By: M. Khurram Siddiqui Mba 3 Semester (Finance) Short Notes Research Methods (STA 630) Lesson No.1
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Short Notes
Research Methods (STA 630)
Lesson No.1
Lesson No.2
Empirical_ Scientific method is concerned with the realities that are observable through
sensory experience and generates knowledge which verifiable by experience or observation.
Some of the realities could be observed directly but some are not observed directly but
researchers have designed ways to observe these indirectly.
Verifiable_ Knowledge observes through scientific method again verified by the same
researcher or other using senses to confirm, and place more faith and confidence in those
findings or conclusions, If similar findings emerge on the basis of data collected by other
researchers using the same method. They will gain confidence in the scientific nature of our
research.
Cumulative_ prior to the start of any study the researchers try to scan through literature and
see that their study is not a repetition in ignorance. Instead of reinvesting the wheel the
researchers take stock of the existing body of knowledge and create a linkage between the
present and previous body of knowledge has to be established and that is how the knowledge
accumulates.
Deterministic_ Science is based on the assumption that all events have antecedent causes
that are subject to identification and logical understanding. The scientific researchers try to
explain the emerging phenomenon by identifying its reasons. The researcher tries to narrow
down the large number of reasons which implies the explanation with the minimum number of
variables that are responsible for an undesirable situation in such a way some action could
taken.
Ethical and Ideological Objectivity_ The conclusions drawn though interpretation of the results
of data analysis should be objective that is they should be based on the facts of the finding
derived from actual data and not on our emotional values. Any interference of their personal
likings and dis liking in their research can contaminate the purity of data, which ultimately can
affect the predictions made by the researcher.
Statistical Generalization_ Generalizability refers to the scope of the research findings in one
organization setting to other settings. For wider Generalizability, the researcher sampling design
has to be logically developed and a number of other details in the data collection methods need
to be carefully followed. Here the use of statistics becomes very helpful in making
generalizations which is one of the goals of scientific method because it is a device for
comparing what is observed and what is logically expected.
Explanation_ Science is fundamentally a explanation activity and scientific explanation must
make sense.
Inductive Logic_ One starts from observed data and develops a generalization which explains
the relationships between the objects observed.
Deductive Logic_ One starts from some general law and applies it to a particular instance.
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Important features of scientific method say that there are two power bases of scientific
knowledge (i) Empiricism such as Sensory Experience or Observation and (ii) Rationalism such
as the logic explanations for regularity and then consequence ional argumentation for making
generalizations.
Experimental Design_ A study design in which the researcher might create An artificial setting,
control some variables and manipulates the independent variable to establish cause-and-effect
relationship is called Experimental Design.
Lesson No. 3
Classification of Research
What is exploratory research and write down goals of this research and also write about
sources used by exploratory research for collection of information?
Solution
If the issue was new or the researcher has written little on it, you began at the
beginning, this is called “exploratory research”.
Its may be the first stage in a sequence studies, and useful preliminary step for new
researcher’s. Exploratory research rarely yields definitive answers. It addresses the “what”
question i.e. what is this social activity really about, and difficult to conduct because there are
few guidelines to follow.
Action Research_ The applied research that treats knowledge as a form of power and
abolishes the line between research and social action is called “action research”. It
incorporates ordinary or popular knowledge like it focuses on power with a goal of
empowerment seeks to increase awareness and tied directly to political action. Action
researchers assume that knowledge develops from experience, particularly the
experience of social political action.
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Impact Assessment Research_ its purpose is to estimate the likely consequences /
assessment of a planned change and making choices among alternative policies. Such
as assessment of Basha dam on the environment.
Evaluation Research_ it addresses the question “did it work”, the process of
establishing value judgment based on evidence about the achievement of the goals of a
program. It measures the effectiveness of a program or policy and uses several research
techniques like survey, field research. Two types of evaluation research are
o Formative Evaluation Research_ It is built in monitoring or continuous feedback
on a program used for program management.
o Summative Evaluation Research_ Looks at final program outcomes
Solution
Lesson No. 4
Role of Theory_
Theory as a Orientation_ theory plays as a role of orientation because a major
function of a theoretical system is that it narrows the range of facts to be studied.
Suppose any phenomenon or object may be studied in many different ways.
Each science and specialization within a broader field abstracts from reality and
broad orientation of each field then focuses upon limited range of things while
ignoring or making assumptions about others.
Theory as a conceptualization and classification _ each science is organized
by a structure of concepts, which refer to major processes and objects to be
studied. As a consequence, a major task in any science is the development of
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classification, a structure of concepts, and an increasing precise set of definitions
for these terms.
Theory as a summarizing role_ A further task which theory performs is to
summarize concisely what is already known about the object of study. These
summaries may be divided into two simple categories (i) Empirical Generalization
and (ii) systems of relationships between propositions.
Theory as a predicts facts_ If the theory summarizes facts and states a general
uniformity beyond the immediate observations, it also becomes a prediction of
facts which have several component.
Theory as a point’s gaps in knowledge_ Since theory summarizes the known
and predicts facts which have not been observed, it must also point to areas
which have not yet been explored. Theory also points to gaps of a more basic
kind, while these gaps are being filled, and changes in the conceptual scheme
usually occur.
Lesson No. 5
Concepts
Concept
A concept is a generalized idea about a class of objects, attributes, occurrences, or
processes that has been given a name. In other words a concept is an idea expressed as a
symbol or in words.
Degree of Abstraction
“The organization of concepts in sequence from the most concrete and
individual to the most general indicates the degree of abstraction”. Moving up the ladder of
abstraction, the basic concept becomes more abstract, wider in scope, and less amenable to
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measurement. The scientific researcher operates at two levels of concepts and on the empirical
level of variables. At the empirical level we experience reality and this is we observe objects or
events.
Importance of concepts
Social sciences concepts form a specialized language, or jargon.
Specialists use jargon as a short hand way to communicate with one another. Most fields have
their own jargon like Physicians, Lawyers, Engineers, and Mechanics etc. all have specialized
language and use their jargon to refer to the ideas and objects with which they work. Special
problems grow out of the need for concept precision and inventiveness and vague meanings
attached to a concept create problems of measurement. Therefore, not only the construction of
concepts is necessary but also these should be precise and the researchers should have some
agreement to its meaning.
Identification of concepts is necessary because we use concepts in hypothesis formulation and
one of the characteristics of a good hypothesis that it should be conceptually clear.
Dictionary Definition
Conceptual Definition
Conceptual definitions are a definition in abstract,
theoretical terms. It refers to other ideas or constructs. It involves thinking carefully, observing
directly, consulting with others, and trying possible definitions. Conceptual definitions are linked
to theoretical frameworks and to value positions. Some constructs are highly abstract and
complex and contain lower level concepts within them, and which can be made even more
specific. Other concepts are concrete and simple. For example construct such as age is easier
to define than is a complex abstract concept such as morale.
Operational Definition
In research we must measure concepts which require a rigorous definition
and construct a concept must be made operational in order to be measured. An operational
definition gives meaning to “a concept by specifying the activities or operations necessary to
measure it and specifies what must be done to measure the concept under investigation”.
Operation definition also called a working definition stated in terms of specific testing or
measurement criteria. So, in operational definition we must specify concrete indicators that can
be observed / measured.
Lesson No. 6
What is variable?
Variable is central idea in research. Simply defined, variable is concept that varies. There are
two types of concepts, (i) those that refer to a fixed phenomenon, and (ii) those that vary in
quantity, intensity, or amount. The second type of concept and measures of the concept are
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variables. A variable is defined as anything that varies or changes in value. Variables take on
two or more value. Because variable represents a quality that can exhibit differences in value,
usually magnitude or strength, and also variable generally is anything that may assume different
numerical or categories values.
Types of Variable
Continuous Variables_ If the value of a variable can be divided into fractions then it is
called “continuous Variable”. Such variable can take infinite numbers of values. Income,
Temperature, Age, or a test score are the examples of continuous variable. These
variables may take on values within a given range or in some cases an infinite set.
Discontinuous Variables_ Any variables that has a limited number of distinct values
and which cannot be divided into fractions is called “discontinuous variables”. It is also
called categorical, classificatory, and discrete variable. Some variables have only two
values, reflecting the presence or absence of a property, like employed or unemployed,
male or female have only two values and it referred to as dichotomous.
Dependent Variable_ The cause variable or the one that identifies forces or conditions
that act on something else is called “Dependent Variable”. Dependent variables
“depends on” the causes and also referred to as “Criterion Variable”. In statistical
analysis dependent variable identified by the symbol (Y). The stock market price of the
product is the example of dependent variable.
Independent Variables_ The variable that is the effect or the result or outcome of
another variable is called “independent variable”. It is also called outcome or effect
variable. The independent variable is “independent of” prior causes that act on it. In
statistical analysis independent variable identified by the symbol (X). The success of the
new product is the example of independent variable.
Moderating Variables_ A variable that has a strong contingent effect on the dependent
and independent variables relationship is called “moderating variables”. That is, the
presence of 3rd variable modifies original relationship between the dependent and
independent variable. For example a strong relationship has been observed between the
quality of a library facility (X) and performance of the student (Y).
Intervening Variables
A basic casual relationship requires only independent and dependent variable. A third
type of variable, “the intervening variable”, appears in more complex casual relationship.
It comes between independent and dependent variables and shows the link or
mechanism between them. In sense, the intervening variable acts as a dependent
variable with respect to independent variable and acts as an independent variable
toward the dependent variable.
Extraneous Variables
An almost infinite number of extraneous variables exist that might conceivably affect a
given relationship. Such variables have to be identified by the researcher. In order to
indentify the true relationship between the independent and dependent variables, the
effect of the extraneous variables may have to be controlled. Confounding factors is
another name used for extraneous variable.
Lesson No. 7
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Hypothesis
A hypothesis may be defined as “a logically speculation relationship between two or
more variables, expressed in the form of a testable statement is called “Hypothesis”.
Relationship is proposed by using a strong logical argumentation and may be part of theoretical
framework of the study.
Types of Hypothesis
Lesson No. 8
Review of Literature
Types of Reviews
Lesson No. 18
Criteria for Good Measurement
Validity_ Validity is the ability of an instrument to measure what it is supposed to
measure.
Content Validity_ The content validity of a measuring instrument is the extent to
which it provides adequate coverage of the investigative questions guiding the
study. If the instrument contains a representative sample of the universe of
subject matter of interest, then the content validity is good.
Lesson No. 19
Research Design
Research Design
A research design is a master plan specifying the methods and procedures for
collection and analyzing the data. It is a strategy or blueprint that plans the action
for carrying through the research project data and It also involves a series of
rational decision making choices depending upon the various options available to
the researcher’s. Broadly it is composed of different elements like,
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Different Elements of Research Design
Lesson No. 20
Survey Research
High Cost_ Personal interviews are generally more expensive than mail,
internet, and telephone surveys because the training of the field interviewers,
supervision, and other logistical support cost may add up the total cost of the
study. People usually estimate the cost of personal interviews is usually 15 times
higher than the mail survey.
Lack of Secrecy of Respondent_ Because the respondent in a personal
interview is not unknown therefore he or she may be reluctant to provide
confidential information to another person.
Callbacks_ When the person selected to be in the sample cannot be contacted
on the first visit, a systematic procedure is normally initiated to callback at
another time which is a labor intensive work and definitely increases the cost.
Interviewer Influence_ There is some evidence that the demographic
characteristics of the interviewer influence respondents’ answers.
No Opportunity to Consult_ The interview may take place anywhere, place of
work, in the shopping mall, and at home the respondent may be unable to
consult record, in case he or she has to do so for any specific question.
Some Neighborhoods are Difficult to Visit_ Due to security reasons some
neighborhoods may not allow outsiders to enter the permission.
Lesson No. 21
Intercept Interviews in Mall and other High Traffic Areas
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Telephone Interviewing _ Telephone interviewing has been a main stay of commercial
survey research and the quality of data obtained by telephone may be comparable to
that collected in personal interview. Telephone survey provides representative samples
of general population in most industrialized countries.
Lesson No. 22
Self Administered Questionnaires
Cover Letter_ The cover letter that convoys the questionnaire or is printed on the first
page of the questionnaires is an important means of inducing a reader to complete and
return the questionnaire. A personalized cover letter addressed to a specific individual
show the respondent that he or she is important and individually typed letter on letter
head versus printed form is an important element in increasing the response rate in mail
surveys.
Follow Up_ Follow up implies the communication of the message to respondents
through different means of the return of questionnaire. A follow up may include a
duplicate questionnaire or may merely reminder to return the original questionnaire.
Multiple contacts almost always increase response rates.
Money Helps_ The respondent’s motivation for returning a questionnaire may be
increased by offering monetary incentives or premiums, such as pens, lottery tickets,
and variety of premiums. Money incentive works for all income categories.
Survey Sponsorship_ Sponsorship of the study makes a difference for motivation the
respondents to return the questionnaires. It depends up the goodwill of the sponsoring
agency that can activate or deactivate the respondent to fill the questionnaire and return
it. Sponsorship by well known and prestigious organization such as universities or
government agencies may significantly influence response rates.
Interesting Questions_ In the topic of research certain interesting question can be
added to the questionnaire, perhaps in the beginning to stimulate the respondent’s
interest and to induce cooperation.
Benefits of Email Surveys_ include speed of distribution, lower distribution, processing
cost, faster turnaround time, more flexibility, and less handling of paper questionnaires.
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Internet Surveys_ An internet survey is a self administrated questionnaires posted on a
web site. Respondents provide answers to question displayed on screen by highlighting
a phrase, clicking an icon, or keying in an answer.
All People Cannot Participate_ Many people in the general public cannot access to
internet and all people with internet access don’t have the same level of technology.
Many lack powerful computer or software that is compatible with advanced features
programmed into many internet questionnaires. Some individuals have minimum
computer skills and may not know how to navigate through and provide answers to
internet questionnaires.
No Physical Incentive_ Unlike mail or internet surveys don’t offer the opportunity to
send a physical incentive to the respondent.
Lesson No. 23
Tools for Data Collection
Tools For Data Collection_ Broadly there are three tools for data collection as part of
communication surveys. These are
Interview Schedule_ Interview schedule is predesigned list of question used for
communication with the respondent. In case of interview schedule, the list of questions
remains in the hands of the interviewer, he asks questions from the respondent, and
gets his or her responses and recorded it.
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Questionnaire_ Questionnaire is also a predesigned list of questions used for
communication with the respondent. Questionnaire is also a list of questions, which
handed over to the respondent, who reads the questions and records the answers
himself.
Interview Guide_ It is a list of topics that are to be covered during the course of
interview. Interview guide is used for purposes for an in depth interviewing. In interview
guide questions on the topics are formulated on the spot and most of the questions are
open ended.
Guidelines for Questionnaire Design_ Questionnaire design is one of the most critical stages
in the survey research process. While common sense and good grammar is required in the art
of questionnaire design. Further proper wording the questionnaire is crucial, as some problems
may be minimized or avoided altogether if a skilled researcher composes the questions. A good
questionnaire forms an integrated whole.
Questionnaire Relevancy_ A questionnaire is relevant if the information that is needed
to solve the problem is obtained. Asking the wrong or irrelevant question is a pitfall to be
avoided. If the task is to pinpoint compensation.
Questionnaire Accuracy_ Accuracy means that the information is reliable and valid.
Obtaining accurate information from respondents is strongly influenced by the
researcher’s ability to design a questionnaire that facilities recall and that will motivate
the respondent to cooperate. Therefore avoid jargon, slang, and abbreviations and
words used in the questionnaire should be readily understandable to all respondent.
Avoid Double Barreled Question_ Make each question about one and only one. A
double barreled question consists of two or more questions joined together and makes
the respondent’s answer unclear.
Avoid Leading Questions_ Make respondent’s feel that all responses are legitimate.
Don’t le them aware of an answer that the researcher wants. A leading question is the
one that leads the respondent’s to choose one response over another by its wording.
Use Filter Question_ Filter Question is that question which screens out respondent’s
not qualified to answer a second question. Filter questions minimizes the chances of
asking questions that are inapplicable.
Layout of the Questionnaire_ Good layout and physical attractiveness is crucial in
mail, internet, and other self administrated questionnaires. There are two format or
layout issues (i) the overall physical layout of the questionnaire and (ii) the format of
questions and responses.