Data Analysis and Findings : Report
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Added on 2020-01-21
Data Analysis and Findings : Report
Added on 2020-01-21
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ECONOMICS-FOLLOWING THE CROWDCAN BE BENEFICIAL ASWELL AS FOOLISH INFINANCIAL MARKETS1
TABLE OF CONTENTSCHAPTER 3: RESEARCH METHODOLOGY.............................................................................2Introduction............................................................................................................................2Research philosophies............................................................................................................3Research approaches..............................................................................................................4Research strategies.................................................................................................................5Research choices....................................................................................................................5Time Horizon..........................................................................................................................6Techniques and procedures....................................................................................................6Research Limitation................................................................................................................8Ethical consideration..............................................................................................................9CHAPTER 4: DATA ANALYSIS AND FINDINGS...................................................................10Introduction..........................................................................................................................10Data analysis and findings....................................................................................................10CHAPTER 5: FINAL DISCUSSION............................................................................................21Introduction..........................................................................................................................21Conclusion and discussion...................................................................................................21REFERENCES..............................................................................................................................242
CHAPTER 3: RESEARCH METHODOLOGYIntroductionResearch is an in-depth analysis of the topic through application of variety of tools andtechniques in a well formatted manner. Research methodology is a section which helped theresearcher in fulfilling all the above requirement for the study. It is a detailed plan and procedureto analyse the research problem and developing effective design for the same in order to attainthe effective result (Green, Camilli and Elmore, 2012). For the present study this section willhelp in developing a detailed analysis of various tools and techniques that the researcher willimplement in order to develop an effective result. The current topic of the research is to examinethe economics of wisdom of crowd within the financial market. In order to attain the researchaim, researcher will apply research onion which is a well-developed and formatted approach tostructure the study and analyse key aspects for designing it. Illustration 1: Research onion(Source: Green, J. L., Camilli and Elmore, 2012)Research philosophiesAccording to Johnson and Christensen, 2008 research philosophy develops a cluster ofbeliefs which helps in effectively structuring of the overall research and develops a formattedmeasure to approach research problem. This outermost layers develop a strong basis for the3
research and analysis various means of data collection sampling etc. There are majorly two typesof research philosophies which are positivism and interpretivism. Positivism is an effective andfactual research philosophy in which researcher implement scientific measures and actual data toattain results. Interpretivism on the other hand, is the philosophy where research findings arederived through effective and in-depth interpretation. This method undertakes different socialperception and theories under consideration (McBurney and White, 2009). It helps in developinga subjective research analysis. The present study focuses on analysing the impact of wisdom of crowds on financialmarket (bubble and crashes). In order to carry out the proposed research study interpretivismphilosophy will be applied. It will be an effective measure to deal will the social approach anddeliver a subjective result for the given study. Positivism on the other hand, is a rigid andinflexible philosophy which demands strong scientific theories and factual figures for theresearch. Current topic attempts to prove a social perception in financial market hence positivismwill not be effective for the same. It will be unable to focus on the social thinking and crowdbehaviour in order to deal with the research problems efficiently. Research approachesThe next layer of research onion is research approach which develops an effective a clearanalysis about research design. It helps the researcher in properly structuring the study to attainreliable research results for the study. Merriam, 2009 has segregated research approach into twomajor segments which are effective and well developed for the research analysis. Inductive anddeductive research approach are different types of approaches which research implement todesign the study efficiently. Deductive approach is the on which demands specific design andprocedure to carry forward with the study. It focuses on developing a causal relationship betweenvariables to attain specific results. For this, researcher develop hypothesis on the basis ofresearch objective which develops a conceptual relationship with elements of the study. Incontrary to this, inductive research approach focuses on conducting the research to attain generalperception or theories which are applicable in similar industries or situations (Denzin andLincoln, 2011). This approach adopt research questions or theories to support the study andresolve research problem. The aim of the present study is to investigate financial markets where bubbles andcrashes influence profits and how following the crowd can be beneficial as well as foolish. The4
topic demands effective social influence for the research. Hence, in order to conduct the statedresearch inductive approach will be applied. For this qualitative data will be used thus conclusionwill be drawn applying the same. Deductive approach demands effective formation of hypothesisfor the study which is ineffective for the present topic. The researcher will effective usesecondary data to analyse and evaluate the impact of social perception on overall profitabilitywithin the financial market.Research strategiesAccording to (Sharma, 2001) there are numerous ways of conducting research in order toattain the effective findings which may help in resolving the issue. Research strategy helps infinding significant differences in those ways and selecting the most suitable design for the study.This helps in creating a well-developed research report for the study. Various types of researchstrategies implemented while conducting the research are exploratory, descriptive, case studyanalysis, casual research etc (Sharma, 2001). this helps the researcher in attaining effectiveresearch goals. For the present study, exploratory research strategy will be applied. This will helpin effective developing base for conducting research on the basis of research questions andseeking relevant results for the same. Moreover, this strategy will be effective to attain the aim ofthe study in an efficient manner.Descriptive analysis is a strategy which uses different theories and apply measures tocheck the relevancy of the same. The present research is trying investigating the impact oncollective decisions on profitability in financial market. The research attempts to prove acompletely new theory. Case study analysis is a strategy where any particular case is taken as thebase and research is conducted on that segment to testify the application of tools and techniques.This strategy is not relevant for the present topic hence the researcher has adopted exploratoryresearch method which is most effective and appropriate method to attain research result. Research choicesThis layer of the research study focuses on analysing different methods to conduct andcarry out the research in order to attain the effective and valuable results for the study. It focuseson analysing the tools and measures implemented in order to conduct and carry out the study. .Choice of the research is totally depends on the available time and money as well as aim andobjectives of researcher (Sharma, 2001). The present research focuses on investigating financialmarkets where bubble and crashes influence profits and examining how following the crowd can5
be beneficial as well as foolish. In order to attain the stated research aim researcher has variouschoices such as qualitative method, quantitative method, mixed method etc. The present study will adopt qualitative research choices. This will be effective andfavourable for the present research topic. The study seeks to link the social perception withfinancial investment patterns. The topic will be well defined and examined through applicationof qualitative method. This method will be using interpretative measures to attain researchresults. Moreover, examining and linking research patterns will be effective for attain theresearch results. Quantitative method on the other hand demands wide quantitative data whichcan be used for effective analysis and conclusions are mad using quantitative and statistical toolssuch as descriptive statistics, mathematical models etc. In order to analyse the effectiveness ofwisdom of crowds the researcher will use the comparative analysis of secondary research data adeffective conclusions will be attained for the same. Hence, qualitative analysis will be effectiveand appropriate for the present study. Time HorizonThis layer of research onion focuses on analysing the time horizon for which the researchwill be carried out. Time horizon for the research helps the researcher in developing effectivemeasures to carry out the research in an effective and well developed measures. According toCrowther and Lancaster (2012) time horizon of the research are characterised into two broadcategories which are cross sectional and longitudinal. This categorization helps the business unitin developing an effective impact on analysing effective means of conducting the research.Longitudinal researches as per the Daniel and Sam, (2011) are those which are carried out by theresearchers for a very long period. The topic of these researches are considerably wide and thesetypes of researches are generally stretched for a year or a decades even to attain the objectives.Cross sectional research on the other hand are those researches which are carried to attainspecific objectives or purpose. The topic of these research is specific and generally focuses onattain research aims and objectives for specific period of time.The aim of the present study in to analyse whether the following crown is foolish orbeneficial for investors with reference to bubbles and crashes in the financial market. The topicof the research is very confined and specific. The researcher will effectively carry outexploratory research. The cross sectional time horizon will be applied for the study as theresearch aim reflects specific research issues which could be analysed through specific data6
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