Higher Degree by Research - Business
Writing a research proposal for application to Higher Degree Research at QUT School of Business.
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Added on 2021-02-19
Higher Degree by Research - Business
Writing a research proposal for application to Higher Degree Research at QUT School of Business.
Added on 2021-02-19
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Applicant’s nameClick or tap here to enter text.QUT Student ID (if applicable)Click or tap here to enter text.DegreeSchoolProposed Principal supervisor’s nameClick or tap here to enter text.1.Research Project TitleThis is the working / draft title for the project.To analyse the impact of personal characteristics and cultural expectations in investment and decision making.2.Research Project SummaryProvide a brief overview of the project, similar to an abstract, or executive summary.In the research proposal presented below, the research that will be conducted in order to achieve the intended aim of analysis of the impact that personal characteristics and cultural traits has on the investment and decision making of the investors studying the field of behavioural finance. In the current proposal, a research problem has been formulated based on which literature review has been conducted. Further this research proposal also includes formulation of research aims and research questions that are to be addressed in the intended research followed by identification of the theoretical frameworks that will be used in the research (Blajer-Gołębiewska, Wach and Kos,2018). This is followed by research methodology which details the various tools and techniques that will be used by researcher to conduct his research and this is followed by justifying the significance of conducting this research and its importance i.e. contribution. Lastly, a timeline related to the conducting of entire research will be presented in the research proposal.Instructions:1.Writing a research proposal is a requirement for application to Higher Degree Research at QUT. 2.This template may be used as a suggested format for your Research Proposal for Application. You do not have to use this template, however it is recommended that you structure your research proposal according to the following sections and headings. 3.It is recommended that you prepare your Research Proposal electronically using a clear and legible font size and adhere to the word / page limit indicated.4.Overall word limit: No set word limit, however 5 to 6 pages is recommended.of BusinessHDR RESEARCH PROPOSAL TEMPLATE
3.Research ProblemUsing references to existing research, identify the current research problem or challenge that is the intended focus of your proposed research.In this research proposal, the main problem that I will address is how different personality characteristics and the cultural expectations of the investors and financers impact their decision making. The different aspects of the personality and culture of an investor will be observed and how their decision making gets impacted due to such cultural and personality’s influences will be discussed in this research proposal. What are the possible solutions to meet such influences will be further addressed in this report. The problems to be addressed are:To identify the concept of personal characteristics and cultural expectations.To determine the impact of such characteristics and expectations on the decision making of investors.To identify the potential advantages or disadvantages of this impact on decision making.To recommend proper strategies to meet out such drawbacks or challenges.4.Project (research topic) detailsProvide a brief statement under each of the headings below.1.1.Literature ReviewProvide a brief review of the literature for the area of research interest. This sets the scene and context for the research topic. It should define the problem, its causes, its extent and its significance. Ensure the literature review is grounded in the academic literature and includes citations.Literature review helps a researcher In identifying and analysing the past research that has been conducted and formulating the best approach in conducting his research which will further add on in the field.Theme 1: Influence of personal characteristics and Cultural Expectations on investment decisions.As per the view point of Kaur and Kaushik (2016), personality traits as well as cultural background is statistically of extreme importance. The need and achievement of certain objectives were the key points that influenced thepreference of investors. Further the risk taking capability of the investor mainly influences the decision making i.e. the degree of risk that an investor is ready to take while making investment decisions. The cultural norms of the society and the resources available within a family are additional factors that further impact the decision-making. Based on the economic differences of various countries, there is additional differentiation in the manner investors belonging to different countries invest.However, Gupta, Mahakud and Debata (2018), contradicts that Culture and Personality although are contributors in the decision making but they do not act as major contributors. Factors like investment strategies, objective of investment, time period, returns generated and frequency of investment are some of thekey factors behind making investment decisions. The security of the investment that is being made additionally impacts the decision making rather that cultural or personality’s impact. The author further states that cultural aspect leads clouding of the judgement and rationality of the decision making power of the investor making himtake decisions that might not give maximum profitability.Theme 2: Advantages and disadvantages of the impact on decision making.Lucke and Eichler (2016), states that cultural aspect as well as personality types have a very positive influence on the decision making regarding investment. The profile of the investor and his risk taking ability helps in determining the investment tendency and take those decisions that will give them maximum returns. These factors collectively categorized under behavioural finance helps the investors in identifying which categories of investment will suit their lifestyle and give them returns accordingly rather than taking economic factors only into consideration. It also helps in recognizing the behaviour type or habit so that implementation of the decisions taken can help in achieving the intended investment objectives.Another author Frino, Lepone and Wright (2015), argues that investment decisions based on these aspects are often irrational and does not give maximum yield or return to the investors. This involves biasness in the decision making involving factors like overconfidence, ambiguity, lack of adequate knowledge etc. that impacts
the decision taken by the investors negatively because they tend to overestimate or underestimate an investment decision based on their preference rather than adopting a rational and justified approach. Further, cultural impacts also purports many disadvantages like constriction of better investment avenues, unavailability of all the investment options etc.Theme 3: Strategies for overcoming drawbacks of such cultural and personality impacts on investment decisions.According to Ang, Cheng and Wu (2015), the best strategy to minimize the negative impact of behavioural finance in decision making involves addressing the biasness that an investor has. The author states that rather than sticking to what he thinks, an investor should collect and analyse opinions that are contrary to his opinions so that he can conduct a critical evaluation. Further, instead of taking those investment decisions that are being crowded, they should rather use their judgement and instinct in making those investment decisions. Additionally, Petersen, Kushwaha and Kumar (2015), states that correct identification of the risk taking capability and integrating it with personal objectives, an investor can formulate rational investment decisions that will increase their profitability. Another major strategy for making correct investment decisions is developing the correct mix of investments to be made so that the categories which are more beneficial can be identified.1.2.Research Aims, Questions, and / or HypothesesOutline the research aims, questions, and / or hypotheses to be addressed. Ensure the research aims, questions and / or hypotheses reflect the research problem developed in the brief literature review.Aim: To analyse the impact of characteristics of a person and cultural background on the decision making and the investments made by them. Based on this aim and the research problem formulated, I will address following research questions:Research Questions:What is the concept of personal characteristics and cultural expectations?How such characteristics and expectations can impact the decision making of investors?What are the potential advantages or drawbacks of this impact on decision making?Which strategies can be recommended to meet out such drawbacks or challenges in decision making?1.3.Theoretical Framework Outline the potential theory or theories you have considered to investigate the research problem.
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