Research Methodology
Dr. Swagatika Nanda
Syllabus
• Introduction to Research
• Research Design in Accounting and Finance
• Data Collection and Processing
• Interpretation and Report Writing
Detailed Syllabus
Contd…
Introduction to
Research
What is Research?
• Research is "creative and systematic work undertaken
to increase the stock of knowledge, including
knowledge of humans, culture and society, and the
use of this stock of knowledge to devise new
applications".
Research is the process of
solving problems and finding
facts in an organised way.
In simple
words Research is done by applying
what is known (if anything) and
building on it. Additional
knowledge can be discovered by
proving existing theories, and by
trying to better explain
observations.
Research means search for knowledge.
It aims at finding out truth.
Art of Scientific investigation
Way of thinking, Critically examining aspects of
daily life.
Fact finding process. A movement from the
known to unknown.
Research is an Organised and Systematic way
of Finding the Answers to Questions.
Consume
r
Behavior
Business
Research Human
Finance Resource
The systematic and s
objective process of
collecting, recording,
analyzing and
interpreting data for
aid in solving
Promotio
managerial problems’ Product
n
Features of Research
• Develops Principles
• Use scientific method
• Maintains objectivity
• Purposeful Investigation
• Studies complex human behavior
• Continuous Process
• Conducts observation and Experimentation
• Changes in Environment
Objectives of Research
To examine
To present
To Identify the To collect relationship
benefits of
Problem Information between
research
variables
To help in
To make future To study
framing
predictions variables
general laws
• It add to the existing knowledge.
• It establish reliable guide
Importance • It predict, explain and interpret a
of Research behavior
• It provide solution to a problem
• It analyze inter relationships
• It develop new theories and
principles
• It develop new ideas
Objectives of Research in field of
Accounting and Finance
• To decide and implement new accounting or auditing
standards.
• To present unusual economic transactions in the
financial statements.
• To learn how new tax laws impact employers and
clients.
Research in field of Accounting and
Finance
Financial Human Resource Market
Management Management Expansion
• Sources of • Human • Feasibility
Funds Resource Analysis
• Application of Accounting • Cost Benefit
Funds • Human Analysis
Resource • Break Even
Auditing Analysis
• Human
Resource
Incentives
Contd…
Auditing of
Tax Payments Corporate Image
Records
• Tax Computation • Analysis of Profit • Designing
• Tax Incentives and Loss compensation
• Tax Disclosures Statements package
• Analysis of • Framing right
Balance Sheet product image
Statements • Good corporate
• Analysis of Cash habits
Flow Statements
Contd…
Product Dealer
Reduction
Pricing Relationship
in Costs
Decisions s
Competitive
Advantage
Meaning of Research Objective
A research objective is a Generally research Sometime objectives are
clear, concise, declarative objective focus on the directed towards
statement, which provides ways to measure the identifying the relationship
direction to investigate the variables , such as to or difference between two
variables.’ identify or describe them. variables
Characteristics of Research Objectives
Research objectives is a concrete statement describing what the
research is trying to achieve. A well-worded objective will be SMART, i.e
Specific, Measurable, Attainable, Realistic, & Time-bound.
Research objective should be Relevant, Feasible, Logical, Observable,
Unequivocal &Measurable.
Need for Research Objectives
Provide Focus and Direction: They guide the research process by clearly
Provide
defining what the study aims to achieve.
Ensure Relevance: Objectives help align the study with its purpose,
Ensure
ensuring that efforts are targeted and meaningful.
Facilitate Planning: They break down the research into manageable
Facilitate
tasks and milestones.
Enhance Clarity: Objectives make the goals of the research transparent
Enhance
for stakeholders, including researchers, participants, and funders.
Measure Success: Well-defined objectives allow for the evaluation of
Measure
whether the research outcomes meet the intended goals.
Method of stating
Objectives
The objectives should be presented briefly &concisely.
They cover the different aspects of the problem &its contributing factors in a
coherent way & in a logical sequence.
The objectives are clearly phrased in operational terms, specifying exactly what
researcher is going to do, where, & for what purpose.
They are realistic considering local conditions.
Use action verbs that are specify enough to be evaluated.
Examples of action verbs are: to assess, to identify, to find out, to determine, to
compare, to find, to verify, to calculate, to describe, to analyse, to establish, etc.
Basic Research
Applied Research
Descriptive Research
Analytical Research
Types of Empirical Research
Research Qualitative Research
Quantitative Research
Other
• Field
• Laboratory
Basic Research
Research may be aimed at expanding a field of knowledge or improving the understanding of a
natural phenomenon. This type of research is known as a basic, pure or fundamental research,
and it is a major means of generating new ideas, principles and theories.
Basic research is a type of research approach that is aimed at gaining a better understanding of
a subject, phenomenon or basic law of nature. This type of research is primarily focused on the
advancement of knowledge rather than solving a specific problem.
Basic research fuels scientific innovations and development because it is driven by the need to
unravel the unknown.
• Applied research refers to scientific and
systematic investigation that aims to
solve specific problems, answer
practical questions, or address practical
issues in the real world. The primary
goal of applied research is to generate
practical solutions and contribute to the
Applied development of solutions that can be
Research directly applied to real-world problems.
• Example: Agricultural researchers
might conduct applied research to
improve crop yields and sustainability.
• The features are practical orientation,
problem solving and actionable
outcomes
Descriptive Research
Example: Suppose a researcher wants
Descriptive research aims to answer to understand the eating habits of a
questions about what, when, where, specific population in terms of their
and how. It does not seek to establish preferred food choices, meal times,
cause-and-effect relationships but and frequency of dining out. The
rather to provide a comprehensive researcher might use surveys,
and detailed snapshot of a situation. interviews, or observations to collect
data on these variables.
Analytical Research
Let's consider a study that examines the
Analytical research involves a relationship between study habits and academic
deeper exploration of data to performance among college students. The
researcher collects data on students' study habits
uncover patterns, relationships, or (such as study duration, study materials used)
underlying factors. It seeks to and their academic performance (such as
grades). Through statistical analysis, the
explain why certain phenomena researcher might identify correlations between
occur and goes beyond describing specific study habits and academic success,
what is happening. providing insights into factors that influence
student performance.
Empirical Research
Consider a study that investigates the
impact of physical exercise on mental
Empirical research is grounded in the
health. The researcher may design an
collection and analysis of data that can be
empirical study where participants are
observed, measured, and analyzed. It
randomly assigned to either an exercise
emphasizes the use of empirical evidence to
group or a control group. The researcher
validate or refute hypotheses and contribute
collects data on various mental health
to the development of knowledge in a
indicators, such as stress levels, mood, and
particular field.
cognitive function, before and after a
specified period of exercise.
Research Process
Identifying a problem
Defining the problem in precise terms in unambiguous terms
Designing the research
Review of Literature
Stating the problems in form of research questions and research
Process of hypotheses
Collecting data
Research Analyzing data
State and discuss the result
Interpretation of data
Drawing conclusion
Making recommendations
Research Problem
A research problem is a statement that contains a
hidden question of the issue that an investigator
states and justifies in a research study.
Identification of research problem is the first step of
the research process.
R. S Woodworth defines
“ A situation for which we have no ready &
successful response by instinct or by previous
acquired habit. We must find out what to do”, i.e.
the solution can be found out only after an
investigation.
Example 1
• “Effectiveness of planned teaching on • To assess the knowledge of staff
the knowledge of staff nurses nurses working in psychiatric unit
working in psychiatric unit regarding regarding physical restraint.
Physical Restraints for psychiatric • To assess the knowledge regarding
patient in selected hospital of Physical Restraints among nurses
Vidharbha region”. working in psychiatric unit.
• To evaluate the effect of planned
teaching on Physical Restraints
among nurses.
• To associate the knowledge with
selected demographic
Example 2
• A Study on Analysis of Non - • To assess the Impact of NPA on Bank’s
profitability
Performing Assets and its • To Know the level of Non-
Impact on Profitability Performing Assets of private and
public sector banks
• To identify the impact of Non-
Performing Assets on profitability.
• To offer the recommendations to
the regulators and policymakers
Factors influencing selection of
Research Problem
Internal External
• Researcher’s Interest • Quality of Research
• Researcher’s Competence Problem
• Availability of Resources • Availabilities of Facilities
• Social Relevance
• Research Personnel
• Urgency of the Problem
• Feasibility of the problem
Steps in Formulation of Research Problem
Understanding Surveying
Statement of
the nature of relevant
the Problem
the Problem Literature
Discussion with Rephrasing the
Operational
experienced Research
Definition
persons Problems
Delimiting the
scope of Study
Sources of Research Problem
Research Academic Brainstormin
Reading
Guide Sessions g sessions
Theme from
Field Existing
Experiences Funding
Situations Research
Agencies
Intuition
Review of Literature
A literature review is a survey of scholarly sources on a
specific topic. It provides an overview of current knowledge,
allowing you to identify relevant theories, methods, and
gaps in the existing research.
Importance of Literature Review
• 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 and theorists
• Show how your research addresses a gap or contributes to a
debate
Steps in Review of Literature
Step 1 Step 2 Step 3 Step 4 Step 5
Search for Evaluate Identify Outline your Write your
relevant and select themes, literature literature
literature sources debates, review’s review
and gaps structure
Step 1: Search for relevant literature
What is the impact of social media on body image among Generation Z?
Make a list of keywords
• Social media, Facebook, Instagram, Twitter, Snapchat, TikTok
• Body image, self-perception, self-esteem, mental health
• Generation Z, teenagers, adolescents, youth
• Search for relevant sources
• Google Scholar
• JSTOR
• EBSCO
• EconLit
Step 2: Evaluate and select sources
For each publication, ask yourself:
• What question or problem is the author addressing?
• What are the key concepts and how are they defined?
• What are the key theories, models and methods? Does the research use established
frameworks or take an innovative approach?
• What are the results and conclusions of the study?
• How does the publication relate to other literature in the field? Does it confirm, add to, or
challenge established knowledge?
• How does the publication contribute to your understanding of the topic? What are its key
insights and arguments?
• What are the strengths and weaknesses of the research?
Take notes and cite your sources
Step 3: Identify themes, debates, and gaps
• Trends and patterns (in theory, method or results): do certain
approaches become more or less popular over time?
• Themes: what questions or concepts recur across the literature?
• Debates, conflicts and contradictions: where do sources disagree?
• Pivotal publications: are there any influential theories or studies
that changed the direction of the field?
• Gaps: what is missing from the literature? Are there weaknesses that
need to be addressed?
Step 4: Outline your literature review’s structure
• Chronological
• Thematic
• Methodological
• Theoretical
Step 5: Write your literature review
• Introduction
• Body
• Summarize and synthesize: give an overview of the main points of each source
and combine them into a coherent whole
• Analyze and interpret: don’t just paraphrase other researchers—add your own
interpretations where possible, discussing the significance of findings in relation
to the literature as a whole
• Critically evaluate: mention the strengths and weaknesses of your sources
• Write in well-structured paragraphs: use transition words and topic
sentences to draw connections, comparisons and contrasts
• Conclusion
Critical Literature Review
The main ideas or arguments in the book or article. Don’t feel you
have to mention everything: part of being an effective evaluator is
being able to extract the most important ideas from a source.
Your own evaluation of the book or article. Don’t just accept the
author’s statements without question. Ask yourself such questions as:
How effective is the author’s argument? Is it clearly presented and
explained? Is it biased in any way?
