Scribebook - 18 April (by Jiroj)

Chapter summary for the class
1. Qualitative Inquiry & Research Design: Choosing Among Five Approaches Author name: Creswell, John W. Chapter: 1 – 3
•5 approaches and their procedures for conducting a qualitative research are Narrative research, Phenomenology research, Grounded theory research, Ethnography research, and Case study research.
•Reasons for choosing these 5 approaches involve personal experience, most frequently see in the social, behavioral, and health science literature, and systematic procedures for inquiry.
•5 philosophical assumptions that lead to an individual’s choice of qualitative research are ontological, epistemological, axiological, rhetorical, and methodological
•Paradigm is a basic set of beliefs that guide action. Some important paradigms could be grouped into postpositivism, social constructivism, advocacy/participatory, and pragmatism
•Interpretive lenses impact the process of research across the different interpretive communities. They are postmodern perspectives, feminist theories, critical theory and critical race theory (CRT), queer theory, and disability theories
•Qualitative research is a situated activity that locates the observer in the world.
•Characteristics of qualitative research are 1) Natural setting – collect data in the field at the site to actually talk directly to people, see them behave and act within their context. 2) Researcher as key instrument – Gather information on their own, not relied on questionnaires or instruments developed by other researchers. 3) Inductive data analysis – Build themes from bottom-up. 4) Participant’s meanings – Focus on what participants hold about problem, their perspective, their meaning and their subjective views. 5) Emergent design- Initial plan cannot be tightly prescribed and all process phases may be changed after collecting data. 6) Theoretical lens 7) Interpretive inquiry – Interpretation of what researchers see, hear and understand. That might be different from readers and the participants . 8)Holistic Account – Develop a complex picture of the problem under study.
•Qualitative research is used to explore a problem, to in-depth understanding of the issue. The reasons that govern such problem, to follow up quantitative research and help explain the mechanisms or linkages in causal theories or models and to explain what quantitative measures and the statistical analyses simply do not fit the problem.
•Qualitative research has no standard or accepted structure. Purposes, questions, and the methods of research are all interconnected and interrelated so that the study appears as a cohesive whole rather than as fragmented, isolated parts.
•Qualitative research involves assumptions, worldview, theoretical lens, topic of investigation, literatures review, and problem.

The Case for Qualitative Research in Finance
•Introduction: Existing Paradigm (Quantitative Research: Capital Market Research) includes Efficient Markets Hypothesis, Capital Asset Pricing Model, Option Pricing Model, Arbitrage Pricing Theory. New Paradigm is about Quantitative Research.
•Advantages of Capital Market Research are investors understanding of market behaviors, development of market regulatory policies, researchers earn respect and high professional returns
•Critical Questions Regarding Capital Market Research. World is flat. Connections exist between cause & effect. Connections are determinable, outcomes can be predicted with certainty. The free will of the human being can be ignored. All financial activity can be quantified. All human beings have equal access to the institutions and system
•Finance and Social Science Research. Two issues are 1) the nature of society: contention-domination and consensus domination and 2) the nature of research: subjective and objective.
•Why Don’t We See Other Paradigms in Financial Research? All social systems are subject to change and conflict. They are constantly in a state of disequilibrium.
•Future Directions. 1) The nature of finance: What it is, How we understand & define it, Where it fits into society 2) The effect of cultural & social differences on financial practice between countries 3) Ethics in finance & business: When making financial decisions.
•Getting Started. To formulate strategies for theory development, To assist in the integration & unification of competing paradigms, To assist in planning & operationalizing new directions in finance research
•Specific Examples of Qualitative Methodology. This step could be about Grounded field theory, Ethnographic analysis, Historical techniques, Case study research and Action research.
•Discussions. How do we make judgment on the validity and the reliability of the qualitative research? Discuss which paradigm(s) you intend to fit your research in? Discuss which methodology(s) you can use in your research?

Design of Qualitative Research
•Qualitative research can be divided into three orientations and five majors. Three orientations to research are interpretive, positivist, and critical research.
•Interpretive (Multiple realities are socially constructed by individual. Research wants to gain the knowledge form the society. As a result, the main methodology to conduct interpretive orientation is abductive reasoning.),
•Positivist (Knowledge gains through scientific and experimental research. Researcher desires to gain knowledge form existing reality. They are objective and quantifiable. An obvious methodology is logical deductive reasoning).
•Critical research (Epistemology is considered a social designed. Researcher needs to design the theory form existing information. This research perspective interests more on inductive reasoning.).
•Major types qualitative research are 1) basic or generic 2) Ethnographic, 3) Grounded theory, 4) Phenomenology, and 5) Case study.
•Basic or generic tries to discover and understand the phenomenon or process or perspective view of the people involved.
•An Ethnographic Study presents a social culture analysis of the unit of study. It is firstly define the method than collect the data and write a record by ethnographic technique.
•Phenomenology investigates more on subjective experiences. The researcher might then bring the experience of our learning into consciousness, analyze it and try to interpret the meaning.
•Grounded of research tries to develop ‘a substantive theory’ that has a specific reference. A substantive theory consists of categories, properties, and hypothesis.
•A case study is employed to gain in-depth understanding of the situation and meaning for those involved. It interests in process, context, and discovery that generate form single unit or bounded system.
•The qualitative researcher must have an enormous tolerance for ambiguity. Sensitivity is a second attribute needed in qualitative research.The good qualitative researcher must be a good communicator.

Case Studies as Qualitative Research
•A case study is an empirical inquiry that investigates a contemporary phenomenon within its real-life context, especially when the boundaries between phenomenon and context are not clearly evident.
•Three statements reflect the case study: 1) Particularlistic (focus on a particular situation.), 2) Descriptive (description of the phenomenon under study), Heuristic (bring about the discovery of new meaning.)
•The case study can be grouped in many ways. Three main grouping systems are 1) Disciplinary orientation 2) Overall intent and 3) Multiple case studies
•For disciplinary orientation, an ethnographic case study is a study in the focus that investigates more on culture and behavior of a group study. A historical case study is the study that uses the historiography as its primary source material. A psychological case study is a study that employs concepts, theories, and techniques form psychology in investigates the problem. And a sociological case study is the study in attending to construct of society and socialization in studying phenomena.
•For overall intent, a descriptive case study is the study in presenting a detailed account of the phenomenon under study. An interpretative case study contains the description. However, these descriptions are used to develop conceptual categories or illustrate, support, or challenge theoretical assumptions held prior to the date gathering. And an evaluative case study is the study that includes not only description but also explanation, and judgment.
•For multiple case studies, A Collective case study is the study that involves collecting and analyzing that may have subunit or sub-case. Cross-case investigates more than single unit of the study in one case study. Multi-case or multisite studies or comparative case studies are the studies that try to find more than one question such as how, where, and why, if possible.
•Strengths of a case study are related to its rationale of plan and sample selection. The key strength of the case study research is the predictive nature of the research finding.
•Limitations of Case Studies is that the reader should always keep in mind that they cannot tent to use the result for a whole society because it is, in fact, a part. Besides, case study has limitations of its reliability, validity, and generalizability.

•1.Prepare form of document (and ask them to sign with you) when you collect the data.
•2. Write proposal including abstract, introductions, literature review/conceptual framework, research questions, research method, validity, preliminary results (Optional), contribution/conclusion, reference/appendixes.
•3. Write interview question: survey, focus group, etc. observation, archival data collection in appendix
•4. Summary assigned from the first class.
•5. Proposal is due in the next 2 weeks.

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