Methodology 3.1 Research philosophy / approach / strategy / methods / design 3.2
ID: 419514 • Letter: M
Question
Methodology
3.1 Research philosophy / approach / strategy / methods / design
3.2 Time horizons
3.3 Research model framework
3.4 Research questions
3.4.1 Research question 1 (How will I answer RQ1?)
3.4.2 Research question 2 (How will I answer RQ2?)
3.4.3 Research question 3 (How will I answer RQ3?)
3.5 Research instruments
3.6 Location of the study
3.7 Population and participants
3.8 Sampling design / Sample size
3.9 Pilot study
3.10 Data collection
Explanation / Answer
A time horizon is the length of time over which an investment is made or held before it is liquidated. Time horizons can range from seconds, in the case of a day trader, all the way up to decades for a buy-and-hold investor or an individual who is investing in a retirement plan. Investment time horizons are determined more by an investor's goals for the funds rather than the mechanism itself.
Knowing the preferred time horizon is extremely important when it comes to choosing types of investments and an overall asset allocation for a particular portfolio. Longer-term investments can often afford to be more aggressive, as short-term losses can be offset by long-term gains.
For example, most advisors would recommend that the asset allocation of a portfolio for a 30-year-old investor be more heavily weighted in equities than that of someone who is close to retirement. Age is not the only determinant of time horizon. A 30-year-old investor who wants to save money for a down payment on a house in one year would be investing with a one-year time horizon, even though his retirement is years away. Given the short time frame, it would be prudent to invest more conservatively, because there is little time to make up any losses.
The way in which research is conducted may be conceived of in terms of the research philosophy subscribed to, the research strategy employed and so the research instruments utilised (and perhaps developed) in the pursuit of a goal - the research objective(s) - and the quest for the solution of a problem - the research question. We have outlined our research question and research objectives in Chapter One. The purpose of this chapter is to: · discuss our research philosophy in relation to other philosophies; · expound our research strategy, including the research methodologies adopted; · introduce the research instruments that we have developed and utilised in the pursuit of our goals. 3.2 Research Philosophy A research philosophy is a belief about the way in which data about a phenomenon should be gathered, analysed and used. The term epistemology (what is known to be true) as opposed to doxology (what is believed to be true) encompasses the various philosophies of research approach. The purpose of science, then, is the process of transforming things believed into things known: doxa to episteme. Two major research philosophies have been identified in the Western tradition of science, namely positivist (sometimes called scientific) and interpretivist (also known as antipositivist)(Galliers, 1991).
Predictions can be made on the basis of the previously observed and explained realities and their inter-relationships. "Positivism has a long and rich historical tradition. It is so embedded in our society that knowledge claims not grounded in positivist thought are simply dismissed as ascientific and therefore invalid" (Hirschheim, 1985, p.33). This view is indirectly supported by Alavi and Carlson (1992) who, in a review of 902 IS research articles, found that all the empirical studies were positivist in approach. Positivism has also had a particularly successful association with the physical and natural sciences. There has, however, been much debate on the issue of whether or not this positivist paradigm is entirely suitable for the social sciences (Hirschheim, 1985), many authors calling for a more pluralistic attitude towards IS research methodologies (see e.g. Kuhn, 1970; Bjørn-Andersen, 1985; Remenyi and Williams, 1996). While we shall not elaborate on this debate further, it is germane to our study since it is also the case that Information Systems, dealing as it does with the interaction of people and technology, is considered to be of the social sciences rather than the physical sciences (Hirschheim, 1985). Indeed, some of the difficulties experienced in IS research, such as the apparent inconsistency of results, may be attributed to the inappropriateness of the positivist paradigm for the domain. Likewise, some variables or constituent parts of reality might have been previously thought unmeasurable under the positivist paradigm - and hence went unresearched.
A theoretical framework consists of concepts and, together with their definitions and reference to relevant scholarly literature, existing theory that is used for your particular study. The theoretical framework must demonstrate an understanding of theories and concepts that are relevant to the topic of your research paper and that relate to the broader areas of knowledge being considered.
The theoretical framework is most often not something readily found within the literature. You must review course readings and pertinent research studies for theories and analytic models that are relevant to the research problem you are investigating. The selection of a theory should depend on its appropriateness, ease of application, and explanatory power.
The theoretical framework strengthens the study in the following ways:
By virtue of its applicative nature, good theory in the social sciences is of value precisely because it fulfills one primary purpose: to explain the meaning, nature, and challenges associated with a phenomenon, often experienced but unexplained in the world in which we live, so that we may use that knowledge and understanding to act in more informed and effective ways.
A research question is an answerable inquiry into a specific concern or issue. It is the initial step in a research project. The 'initial step' means after you have an idea of what you want to study, the research question is the first active step in the research project.
A metaphor for a research project is a house. Your data collection forms the walls, and your hypothesis that guides your data collection is the foundation. So, what is the research question? It is the ground beneath the foundation. It is what everything in a research project is built on. Without a question, you can't have a hypothesis. Without the hypothesis, you won't know how to study what you're interested in.
A research question forms the base of where you are going, so we have to write a good research question. If your foundation is built on something shifty, like a house built on sand, then everything following that will be about correcting that initial issue instead of on making an awesome home/research project.
Process
Writing a good research question means you have something you want to study. Let's say you're interested in the effects of television. We will examine the steps and then look at how you could write a research question.
This is the basic process in writing a research question. Writing a good question will result in a better research project.
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