RESEARCH METHODOLOGY FOR ECONOMICS AND BUSINESS

Instructor: Dr Vu Thi Phuong Mai

Email: maivp@ftu.edu.vn/0978118899
Reading materials:
 Textbooks: Saunders, M., Lewis M. & Thornhill A. (2019), Research Methods for Business Students, 8th
edition
 Compulsory reading: Neuman, W. L. (2019), Social Research Methods

CHAPTER 1: OVERVIEW OF SCIENTIFIC RESEARCH METHODS

 Methods: refer to techniques and procedures to obtain and analyze data

 Methodology: refers to the theory of how research should be done

1. Methodology
 Methodology is the theoretical framework to support the methods chosen. It is a perspective
taken on the research, which dictates how it is approached
 Methods are the specific approach to collecting, analyzing your data
- Data Analysis Process:
(1) Data collection

i. Qualitative method (không liên quan đến con số)

 Observational study
 Depth interview
 Focus groups

ii. Quantitative method (liên quan đến con số)

 Surveys
 Secondary data

(2) Data cleaning

i. Sample selection
ii. Outliers/missing values
iii. Data format/data structure /data frame

(3) Data analysis

i. Qualitative method
ii. Quantitative method
 Statistic description
 Regression analysis (econometrics)
⇨ Different methods
- Data:
(1) Primary data
(2) Secondary data
 2. How are methods chosen?
- Every discipline uses different methods for research. For example, a study on stressed students could
be examined through focus groups in the Humanities or by tracking heart rates in the Sciences.
Sometimes a mix of methods can be used.

- When selecting methods, you should:

 Do a literature review of similar studies
 Read about methods & methodology
 Speak to your supervisor

*Literature review: read & research all of the previous documents of the same topic → find the research gap
(the methods & outcomes that have been done before) → find out the different methods to research

Method Methodology

The objective of methods is to find The objective of methodology is to determine

solutions to the research problem. appropriateness of the methods applied with a view
to ascertain a solution.

Methods are just behavior or tools Methodology is analysis of all the methods and
used to select a research procedures of the investigation.
technique.

Methods are applied during the Methodologies are applied during the initial stage of
later stage of the research study. the research process.

It comprises different investigation It is a systematic strategy to find solutions to the

techniques of the study. research problem.

Methods encompass carrying out Methodology encompasses several techniques used

experiments, conducting surveys, while conducting these experiments, surveys, tests,
tests, etc. etc.

3. The nature of research

- People conduct research to systematically investigate things in order to enhance their knowledge, but
research is not merely collecting data
- Research is conducted when:
 Data are collected systematically
 Data are interpreted systematically
 There is a clear goal: to discover NEW FINDINGS → create novelty
4. Business and management research
- Management research is different from other kinds of research because it is transdisciplinary (multiple
studies are involved with it and it is a design science
- Moreover, it has to be theoretically and methodologically accurate, while at the same time being of
practical relevance in the business world
- The researcher Michael Gibbons has introduced 3 modes of knowledge creation:
 Mode 1 – creating fundamental knowledge
 Mode 2 – creating practical relevant knowledge, with emphasis on collaboration
  Mode 3 – creating knowledge that is mainly relevant to the human condition
- Research that only emphasises Mode 1 ways of creating knowledge which only focuses on
understanding business and management processes and their outcomes is called basic, fundamental or
pure research
- Another type of research is called applied research where the emphasis is more on Mode 2. In this case
research is only being conducted direct relevance to managers and is presented in ways these
managers can understand and act upon
- Pure and applied research are two extremes, in order to successfully conduct business and
management research there has to be a balance between the theoretical (Mode 1) and practical (Mode
2) part of research

5. The research process

- When doing research on needs to go through several stages, usually involving:
 Formulating and clarifying the research topic
 Reviewing the literature
 Designing the research
 Collecting the data
 Analyzing the data
 Writing
 DATA ANALYSIS PROCESS
Step 1: Data collection

CHAPTER 2: RESEARCH PHILOSOPHY AND ETHICS IN RESEARCH

1. Why is philosophy important?

Methods

Quantitative Qualitative Mixed

Mono Culture Mono Multi Simple Complex

 Data analysis
process

Data collection Data cleaning Data analysis

Qualitative method Quantitative method

--> Primary data --> Secondary data

Observational
Survey Focus group Depth interview Survey Census
technique

Unstrucrured data
(Raw data)

Structured data (Data

frame)

Longitudinal/panel
Crossectional data Time - series data
data
 - Correlation: sự tương quan  Crossectional data
- Causality: quan hệ nhân quả (cái này giải thích cho cái kia)  Longitudinal data

Data cleaning

Missing
Format Structure data Data sampling
values/outliers

String <=> Sample

Sample sife
numeric selection

*Học online 2
CHAPTER 3: CLARIFYING THE RESEARCH TOPIC AND REVIEWING THE LITERATURE
1. Choosing a good topic
1.1. Characteristics of a good research topic
- Sth excites the researcher, should lie within his capabilities: constraints on time, financial resources,
possession of necessary skills & access to the relevant data
- The researcher should have knowledge of the literature associated with the topic and be able to provide
bright insights
- Have a symmetry of potential outcomes, which means that the results will have to be of similar value
whatever you find out
- How the research could be useful in your future career
1.2. Generating and refining research ideas
- There are many different techniques that can be used to generate research ideas:
 Examine own strengths and interests
 Explore your university staff research interests
 Analyze past project titles of your university such as dissertations (projects from undergraduates)
and theses (projects made by postgraduates)
 Discuss with colleagues, friends or university tutors
 Search through literature and media
  Noting ideas down
 Exploring preferences using past projects
 Brainstorming
 Exploring relevance of an idea to business using the literature, articles may be based on abstract
ideas (conceptual thinking) or on empirical studies (collected and analyzed data)
- Most often it is a combination of these 2 ways of thinking that leads to a good research idea:
 Refining ideas: the Delphi technique  requires a group of people who are involved with or share
the same interest in the research idea to generate and pick a more specific research idea. Another
way is to turn the idea into a research question before turning it into a research project 
preliminary inquiry
 Integrating ideas: This process includes ‘working up and narrowing down’, which means that each
research idea needs to be classified into its area, its field, and ultimately the precise aspect into
which one is interested.

1.3. The transformation from research idea to research project

- Writing research questions:
• Descriptive – question usually starts with ‘When’, ‘What’, ‘Who’, ‘Where’, or
‘How’
• Evaluative – question may start with ‘How effective…’ or ‘To what extent….’
• Explanatory – question mainly starts with ‘Why’ or has this word in it
 The ‘Goldilocks test’
- Writing research objectives: Research objections operationalize the research question, which means that
they show the steps that are required to take to answer it.
2. Developing your research proposal (Writing a research outline)
Structure of a research proposal:
- Title: summarise the research question
- Background: “what is going to be done” & “for what purpose”; shows the relationship between:
+ a theory & a particular context
+ the research & what has been done on the same area
- Research questions & objectives  observable outcomes
- Method:
 Research design: overall overview of the chosen method & reason for choosing. Explain the
choice for a certain research strategy & an appropriate time frame for the project
 Data collection: “how” & “where” the data will be collected; explain analysis techniques
- Timescale: divide the research into different stages & explain how much time take
- Resources:s take into consideration categories such as finance, data access, equipment & expenses
- References: the literature sources to which you have referred to
3. Critically reviewing the literature
3.1. What is a literature review?
- A literature review is a review in which one makes reasoned judgements about the value of pieces of
literature
- There are 2 kinds of review:
  the initial search for research ideas, when you browse through pieces of work and judge which
ones are relevant and which ones are not
 critical reviews: one chooses those pieces of literature that are relevant to the research.
*Nasati
*GG Scholar
*Sci – Hub
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