The Comparison Of Convenience And Sampling - Myassignmenthelp.Com

Question: Discuss about The Comparison Of Convenience And Sampling. Answer: Introduction Brexit refers to the Britains exit from the European Union (EU). On June 23, 2016, the citizens of Great Britain voted for the referendum to exit the EU and the outcome had a shocking effect on the British as well as global economy. UK got a new Prime Minister, Theresa May as David Cameron stepped down from the post. The Brexit is expected to have a severe impact not only on the British economy, but on Ireland also, as the Irish economy is heavily connected with the British economy in terms of high level of trade and due to shared border of the country (Hobolt 2016). According to the experts, Brexit will have significant effect on the major sectors of the Irish economy, including banking or finance, education, agriculture and food production, real estate, health, hospitality, insurance, pharmaceuticals, technology and software and many other industries (Barrett et al. 2015). The research paper aims to find out the effect of Brexit on the banking industry of Ireland in the years of 20 18-2022. Among many other industries, the researcher has chosen the banking sector, that is, finance sector of Ireland due to its huge economic importance. As stated by McLeay, Radia and Thomas (2014), the finance sector of a country is the backbone of the economy and it determines how the economy will flow in the future. The impact of Brexit on the banking will affect the entire Irish economy as the production, consumption and trade decisions and the government of Ireland has to act accordingly to incorporate the Brexit effects. Thus, in this research proposal, the researcher aims to find out how far the Brexit is spreading its effect on the banking sector of Ireland from 2018 to 2022. Research objectives The objectives of the research are: To find out the factors that impacts the performance of the banking sector of Ireland. To find out the impact of Brexit on the money supply in the economy To find out the impact of Brexit on the interest rate, savings, investment and foreign capital inflow in Ireland Research hypothesis H0 (null hypothesis): Brexit has no significant impact on the Banking sector of Ireland. H1 (alternate hypothesis): Brexit has significant impact on the Banking sector of Ireland. Research strategy Research strategy refers to the plan of the researcher to move in the proper direction to fulfill the research objectives. There can be two ways of conducting a research, exploratory and explanatory. Under the exploratory approach, the researcher will explore the research topic to derive a new theory from the study. This is also known as inductive research. On the other hand, explanatory research refers to the approach where the researcher will explain the research topic on the basis of already established theories. This strategy follows the deductive approach of research. Under deductive approach, the researcher does not focus on generating new theories from the data; rather the research subject is explained or tested on the basis of established theories. In the following research, the researcher will be choosing the explanatory research strategy under the deductive research approach. To fulfill the research objectives, the researcher has to find out relevant and supporting data from the banking sector and the economic condition of Ireland and relate to the research objectives. He needs to collect the data on the factors influencing the performance of the Irish banking sector, impact of Brexit on the money supply in the economy and on the monetary and fiscal policies of the government, influencing the macroeconomic factors, such as, savings, investment, production, interest rate and foreign capital inflow into the economy. To come to a conclusion, the researcher will be analyzing those data and observations on the basis of established literature and theories and present the explanations. The researcher will not be using exploratory and financeresearch approach because, to address the issue, the researcher does not need to explore a new topic or generate a new theory from the research. Rather, he has to explain the phenomenon on the basis of some observation and collected data. He does not need to invent a new theory from the data. Thus, he should apply the deductive approach of research and explanatory research strategy to find out the impact of Brexit on the banking sector of Ireland and its implications on the Irish economy. Research design and methodology Research design is the basic plan of the researcher to choose a way to address the research topic. Various types of research design are available, such as, case study, experiment, narrative, ethnography and grounded theory. Based on the requirement, the researcher chooses the best strategy. For the following study, the researcher will be adopting the case study approach. This approach is helpful in testing the research topic through empirical investigation, supported by the data collected from the sample. Bank of Ireland, which is one of the major banks of Ireland, will be chosen as the case study company and the employees and officers will be asked to fill up a survey questionnaire to throw some light on the factors influencing the performance of the bank after the Brexit referendum and also on the monetary and fiscal policies of the bank, taken to control the economic condition of the country. The case study research design is best suitable for this research because it is quite difficult to get the data on the banking industry from each of the Irish banks and compilation of the data becomes complex too. The chance of error also increases if the sample size is too big. Ethnography cannot be chosen as that focuses on the culture or context and impact of Brexit on the Irish banking sector cannot be addressed by this approach. Individual stories and experience will also not lead to the desired outcome, thus narrative approach is also not chosen. Thus, the researcher will be choosing only one bank and collect the primary data from that. Research methodology depicts the processes that would be followed by the researcher to conduct the research study. Two types of methodologies are generally used by the researchers while conducting a research, namely, qualitative and quantitative. The qualitative approach is generally used for exploratory research when there is need to understand the opinions and reasons for gaining an insight into the research topic. On the other hand, quantitative research is helpful in empirical investigation and application of scientific tools to reach to a conclusion. It proves the research hypothesis scientifically. Thus, this method is more logical and has wide acceptability. In the following research study on the banking sector of Ireland, the researcher will be choosing the quantitative method. For quantitative study, the researcher will be collecting primary data by conducting a survey on the employees of Bank of Ireland. Those data will be analyzed statistically to get scientific results. The researcher will also be collecting some secondary statistical data of the performance of the bank from its annual reports, websites, newspapers and journal articles to validate the results obtained from the primary data. The secondary data will be analyzed using thematic analysis under quantitative methodology. Following the explanation by Brannen (2017), using quantitative method is advantageous in this research study, because using statistical method helps in achieving the results in a more scientific and logical way. Sampling method In a research study, when the researcher will be collecting primary data through survey, a sample of respondents should be chosen from the population. Sample is a part of the total population that displays the similar features of the population. There are various types of sampling methods to draw an appropriate sample from the population. Most commonly used sampling technique is the simple random sampling. It is one type of probability sampling and in this sampling, the chances of selection of each of the sample is equal. This process of sampling is unbiased. Another type of sampling is the non-probability sampling and various types are quota sampling, purposive sampling, snowball sampling, self-selection sampling and convenience sampling. Among these, purpose sampling is most commonly used. This is a subjective or selective sampling and applied when the researcher has a specific goal. In this research, the researcher will be applying the purposive sampling method to draw the sample for his survey. The sample would be drawn from the population who has working experience of more than 8 years in the bank. As the issue of Brexit has severe implications, hence, it is assumed that the employees, who have a longer experience with the banking system, will have a better understanding of the economic condition. Other types of sampling are not used because, the researcher already has a criterion of choosing the respondents and hence, probability sampling methods or other type of non-probability methods will not be relevant. Thus, purposive non-probability sampling is the best method in this case, which is expected to bring a more precise outcome of the survey. Research instruments used Research instruments are those, which are used to collect the data and measure the responses of the respondents. Merriam and Tisdell (2015) highlight that the instruments are of two types, namely, researcher completed and subject completed. Rating scales, flowcharts, interview guides and schedules, observation forms, performance checklists, etc. are researcher completed instruments. On the other hand, survey questionnaires, attitude scales, self-checklists, aptitude tests, personality inventories etc. are subject completed instruments. In this research, the instruments used for data collection are survey questionnaire and reading. To collect the primary data, the researcher will prepare a survey questionnaire with 10-15 close ended questions and circulate the survey form to a specific number of people. For the secondary data, the researcher will do extensive reading of various sources of information. Other types of instruments are not used because only questionnaire can reach out to the respondents in an easier and quicker way, and without reading, no information can be captured. The validity and reliability of the instruments are important in any research. If an instrument can measure and perform as expected, it is considered to be a valid instrument. In case of the questionnaire and reading by the researcher, both the instruments are useful in collection of the data. Reliability describes the consistency of the data. The researcher will be performing the reliability test on the survey responses and measure the score on the basis of Cronbachs alpha. For reliability of the secondary data, the researcher will be using scholarly articles from various authentic sources, such as, journals, books, newspapers, government and other official websites. This makes the collected data reliable and the outcomes can be trusted. Data analysis techniques proposed Data analysis is an integral part of any research study. A research paper cannot be completed and cannot reach to a conclusion unless the topic is tested through some data analysis. The researcher must choose the proper data type and its suitable analysis method to reach to a valid outcome. There are two types of data analysis techniques, namely, qualitative and quantitative. Statistical analysis is the part of quantitative analysis of data. Qualitative analysis comprises of objective analysis. In the given research, as the researcher has chosen the quantitative method of research, hence, he has to use the quantitative data analysis techniques. The response data of the survey will be analyzed using statistical tools. The questionnaire for the survey will be designed by using 10-15 close ended questions, whose responses can be converted into likert scale values. This helps in converting the responses into numerical variables, required for statistical analysis. When the data collection is completed, the researcher has to choose the software to apply the statistics on the data. In the universities, SPSS software is most commonly used for data analysis in the research studies. It stands for Statistical Package for the Social Sciences. The most relevant statistical operation is chosen from different functions as per the data and requirement of the research. Descriptive statistics, correlations, regressions, reliability test, ANOVA, t-tests are some of the common functions that a re applied for statistical analysis. The graphs and charts will be used to illustrate the features of the data or the results. The secondary data will be analyzed using quantitative techniques. Based on the statistical characteristics of the data and expected outcome, the researcher has chosen the thematic analysis method. The data on the banking activities, interest rates, monetary and fiscal policies and other economic conditions will be collected from various websites and the reports of the Bank of Ireland and the information will be analyzed using thematic analysis. Grounded theory is an inductive methodology, which is not followed in this case. Interviews are also not conducted as that would widen the range of opinions and suggestions and data interpretation will be robust. Estimated timeline and budget for research Estimated timeline: Month Task 1 2 3 4 5 6 7 8 9 10 11 12 Making a strategy Making a framework Literature review Primary data collection Conducting survey Secondary data collection Data analysis Presenting the findings and discussion Providing the conclusion Thesis submission Table 1: Timeline for the research (Source: Author) Estimated budget: Items Amount Arranging equipment 100.00 Visit to library for literature study 40.00 Making the questionnaire using Google form - Visit to Bank of Ireland for survey 55.00 Circulating the questionnaire through emails - Installing SPSS 55.00 Miscellaneous expenses (For example. Purchasing of a book, journal or annual report of Bank of Ireland, cost of print out, subscription charges, etc.) 250.00 Total 500.00 Table 2: Estimated budget (Source: Author) Conclusion Conducting a research in a proper manner requires a well designed framework. Without an outline or research strategy, the researcher will not be able to keep the focus to get the desired outcome. In the given research, the researcher will be conducting a study to find out the impact of Brexit on the banking sector of Ireland for the years 2018 to 2022. The above report describes the research objectives, research hypothesis, methodology, sampling techniques, research instruments, data analysis techniques, estimated timeline and budget for the research. The research hypothesis is designed to test the notion that if Brexit has significant impact on the functions and performances of the banking sector of Ireland. The hypothesis needs to be tested using quantitative method and statistical tools to reach to the decision in a scientific and logical way. It is seen that, for conducting a research on such a contemporary topic needs primary and secondary data. Both the types of data will be an alyzed using quantitative method. Qualitative analysis is majorly dependent on the perception, knowledge of the researcher and can lead to biased outcomes. Hence, this methodology is not preferred by the researcher in this case. Case study approach helps in narrowing down the subject, which is beneficial for data collection and analysis. Purposive sampling is the most suitable sampling method as the researcher expects that experienced participants can provide better answers on the banking measures and economic condition of the country. Survey method will be chosen due to its better, easier and quicker accessibility to the responses. 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