Process of Literature Review in Social Science Research

Dr. Suman Chakraborty - Email: sumanchaks@gmail.com
By Dr. Suman Chakraborty
Review of Literature
In Finance and Accounting

Dr. Suman Chakraborty – Email: sumanchaks@gmail.com
What is literature
A literature review is a comprehensive summary of
previous research on a topic.
The literature review surveys scholarly articles, books, and
other sources relevant to a particular area of research.

Acceptable sources for literature reviews
1. Peer reviewed journal articles.
2. Edited academic books.
3. Articles in professional journals.
4. Statistical data from government websites.
5. Website material from professional associations
6. Conference papers & proceedings
7. Dissertations And Theses
8. Working papers
9. Working papers from IIMA
10.Inflibnet
11. ICSSR projects
12. Harvard Business Review

Exploring the interest area for Study and Research in Economics
1. Capital Market
Accounting Research
2. Management
Accounting Research
3. Public Policy
Accounting Research
4. Fraud and Forensic
Accounting Research
5. Research in Digital
Accounting
6. Taxation
7. Financial Reporting
1- Fin-Tech
implementations and
challenges.
2- Green finance
3- Blockchain
implementations.
4- Cryptocurrencies
5- Crowdfunding
implementations.
6- Corporate governance.
7- Financial inclusion
8-Corporate Finance
9-Financial Markets
10-Valuations of financial
assets and business
1. Macro Economics,
2. Micro-Economics,
3. Urban Economics,
4. Regional Economics,
5. Developmental
Economics,
6. International
Economics,
7. Financial Economics,
8. Labour Economics
9. Public and
Institutional
Economics.

A Paper on Mutual Fund
Performance
Singh. A. B., and Tandon. Priyanka (2021), Association between fund attributes and
fund's performance: a panel data approach, Benchmarking An International Journal,
29(1), 285-304. DOI: https://doi.org/10.1108/bij-10-2020-0545

Checks Before Reading the Paper
Check on the Journal
Indexation, citations, Scopus quartiles, publication house
Check on the Paper
Quality of Abstract, its contribution, methodologies, language/content
Check on the Author
Affiliation, H index, Citations

Checking the Quartiles of the Journal in Scopus Website

Indexation:
-Scopus
-ESCI Emerging Sources
Citation Index (Clarivate
Analytics)
-ABDC
Citations:
Cite score Scopus
9.7
Quartiles:
Q-1
(90th percentile)
Publication
house:

Affiliation of Author:
H Index of Author
(Scopus)
H Index of Author
(Google Scholar)
Author’s
Citations:
Scopus / Google
(30 / 217)
Area: Banking,
marketing,
economy,
environment

Indexation:
-Scopus
-ESCI Emerging Sources
Citation Index (Clarivate
Analytics)
-ABDC
Citations:
Cite score Scopus
9.7
Quartiles:
Q-1
(90th percentile)
Publication
house:
Affiliation of Author:
H Index of Author
(Scopus)
H Index of Author
(Google Scholar)
Author’s
Citations:
Scopus / Google
(30 / 217)
Area: Banking,
marketing,
economy,
environment
Aim and Scope of the Journal:
Total quality management,
performance measurement,
productivity management and best
practices
Scope of the work in the paper:
Fund attributes that influence the
mutual fund performance.

Category Year Quartile
Business and International Management 2000 Q3
Category Year Quartile

Performance of the Journal – Schimago.com

Objective of the Journal – Whether Matching with the Paper or not?

Abstract of the Paper
The present study tries to explore the various fund
attributes that influence the mutual fund performance.
Further, study examined the effect of mutual fund
attributes namely, Net Asset Value (NAV), Portfolio
turnover ratio (PTR), fund size (AUM), expense ratio (ExpR)
and fund age (Age) on mutual fund’s performance using
gross return and risk-adjusted performance measures.

Purpose of a literature review
1. To find out what is already known about the area of
study selected for the research work
2. To present a critical overview of what work has been
done and
3. Where there is a research gap. Where more contribution
can be done by undertaking the research work.

Purpose of a literature review
a) To explain the RESEARCH PROBLEM.
b) To Describe the RELATIONSHIP OF EACH WORK to the others.
c) To Identify new ways to INTERPRET PRIOR RESEARCH.
d) To Reveal any GAPS IN THE LITERATURE.
e) To RESOLVE CONFLICTS amongst contradictory previous studies.
f) To PREVENT DUPLICATION of effort.
g) To identify a need for ADDITIONAL RESEARCH.
h) To identify the METHODOLOGY ADOPTED by previous researchers
i) To BUILD A THEORETICAL FRAMEWORK for empirical testing
Sourse: University of South California Libraries

Types of Literature Reviews
1. Historical Review
2. Argumentative Review
3. Methodological Review
4. Theoretical Review
5. Systematic Review
Sourse: University of South California Libraries

SEE
VIEW
OBSERVE
VISUALISE
GAZE
GLANCE
LOOK
WATCH
COGNISE
PEEP
STARE
OGLE
PERCEIVE
NOTICE
NOTICE

Flow of Thought Process

Research Plan
Sources of research
papers/reports
[Scoupus / RBI / SEBI]
Selection of papers
based on the
research area or
interest area
Study the following:
a) Theory involved
b) Objectives
c) Method of study
d) findings
Comparison of the
papers studied in
terms of empirical
findings
Summary of the
papers reviewed
Established the GAP
Based on the Gap,
draft the research
Questions
Establish the Research
GAP
Research Objectives
and methods to
achieve them

Select an Area of Study of your interest
Then Select the best papers
Study the theory involved in that area

Selection of an Area of Study: - Study of Economics
Economics is the science that deals with production, exchange and
consumption of various commodities in economic systems.
Economics studies how scarce resources can be used to increase
wealth and human welfare.

== Economics ==
Study of Economics
David
Ricardo
Theory on wages and profit,
labour theory of value,
theory of rents
John Maynard
Keynes 1936
Spending on Output
Alfred
Marshall
Utility analysis
Adam Smith 1776
Wealth of nation
Karl Marx
Capitalism,
labour power
Paul
Samuelson
Preference approach
to consumer demand

Few Domains of Economic Research
Behavioral Economics
Study of psychology into
the analysis of the
decision-making behind
an economic outcome,
such as the factors
leading up to a consumer
buying one product
instead of another.
- Rational Choice theory: Considering the cost and
benefit, maximizing the utility, among the scarce
resources. (Gary S. Becker)
- Prospect Theory: It deals with cognitive psychology
that describes the way people choose between
probabilistic alternatives that involve risk, where the
probabilities of outcomes are known (Kahneman &
Tversky, 1979)
- Bounded Rationality Theory: Instead of choosing the
optimum solution as per rational methods, humans tend
to opt for something that is most satisfying to their
aspiration level (Herbert A. Simon)

Behavioral Economics -Temporal Dimensions: It introduces a time dimension
to human evaluations and preferences.
People are biased towards the present and
poor predictors of future experiences.
Time Discounting and Present Bias:
Present events are weighted more heavily than future
ones (Frederick, Loewenstein & O’Donoghue, 2002);
Human
Psychology
Economic
Outcome
Decision Making

Legal Economics and Empirical Legal studies
 Banking and finance
 Banking and financial markets in India
 Creditor's behavior
 Effects of foreign direct investments
 Financial systems of European/US economies
 Law, Policiy Changes & economics
 Technology assessments

Research Domain in Financial Economics
Financial Market
Regulatory changes
Interest Rates
Changes by RBI
Change in prices of Bonds and stocks
New Investment
products and services
Technology
Intervention
Global
Market
Behaviour

Research Domain in Financial Economics
Prof. Harrison and Prof. Markus suggested following topics for research
1) Market Efficiency
2) Over and Under reaction of stocks due to macro-micro economic
variables.
3) Asset pricing under asymmetric Information
4) Effect on Stock price
5) Investors sentiments
6) Role of liquidity in the organisaion
7) Reaction of stock market
8) Asset Pricing under asymmetric information
9) Risk Insurance, Inflation and stock price

Creditor's Behavior
• 2004 – Mental health first identified by the ‘Independent Review of the
Banking Code’ as an issue requiring industry action
• 2007 – Money Advice Liaison Group publish guidance on working with
indebted customers with mental health problems
• 2009 – Banking Code becomes the Lending Code – new code contains a
section on debt and mental health
• 2012 – Finance and Leasing Association publish dedicated section on
mental health
• 2014 – Financial Conduct Authority take responsibility for consumer credit,
with specific references to mental health and mental capacity
Study conducted by Royal college of psychiatrists
=http://malg.org.uk/wp-content/uploads/2017/03/12-steps-Mental-Health-Nov-2014.pdf

a) International trade and income inequality
b) Measurement and analysis of efficiency and
productivity
c) Construction of composite indicators
d) Determinants of international migration
e) Offshoring, spillover effects of foreign enterprises, and
choice of location (of enterprises)
International Trade, Investments And Migration

Broad Sections of the Research Paper
1. Abstract
2. Introduction section
3. Significance of the issue
4. Literature review
5. Writing skill
6. Quality of the paper
McKercher et al (2007)

Broad Sections of the Research Paper
7. Research gap identified or not
a) Sampling, validity & reliability of data, period and source of data
8. Method of Study
9. Data Analysis
10. Conclusion and suggestion of the paper
11. Reference of the paper
12. Scope of the paper
13. Organisation of the paper

Literature Review Section of the Paper
1. Period of literature included
2. Whether theoretical framework is established as per the topic and
objective
3. Whether literatures included are too much contradicting
4. Whether referencing is proper or not
5. Whether same kind (repetitive) literatures included
6. Whether it is too short or long,
7. Whether ambiguity or clear in understanding
8. Whether critical evaluation of previous literatures done

Literature Review Some Key Questions (Hart 1998)
a) What are the major issues and debates about the topic?
b) What are the key theories, concepts and ideas?
c) What are the key sources?
d) What are the origins and definitions of the topic?
e) What are the main questions and problems that have been addressed to
date?
How have approaches to these questions increased our understanding and
knowledge?

An Example: Literature Review Some Key Questions
The theoretical framework of performance evaluation of mutual funds was
laid down in the mean-variance framework of Markowitz(1952).
Subsequently, Treynor (1961), Sharpe (1966, 1964), Lintner (1965) and
Mossin (1966) propounded the Capital Asset Pricing Theory.
Empirical evidence suggests that fund size and fund age have significant
influence over the future performance of the funds (Ippolito, 1989;
Carhart, 1997; Droms and Walker, 1996 and Low, 2010).
Evidences from the past studies suggests that the fund managers select
schemes based on various factors such as NAV, fund age, fund size and
expense ratio. These attributes exhibit different relationship with different
performance measure (Babbar and Sehgal, 2018 and Kaur, 2018).

Steps in the Formulation of a Research Problem
1. Identify a broad subject area of interest to you.
2. Dissect the broad area into subareas.
3. Select what is of most interest to you – Selection of one sub area
4. Raise research questions.
5. Formulate objectives
6. Assess your objectives: In terms of:
a) To achieve this objective, what type of data are available.
b) Is the objective taken is theoretically well supported

Selecting a Broad Area of Research
Corporate Dividend policy

Sub Area of Research
1.Impact of dividend policy on shareholders value
2.Factors influencing of dividend policy
3.Linkage between Dividend Policy and Capital Structure Theory
4.Impact of dividend policy on firm’s performance
5.Comparison of dividend policy of two companies, two sectors, or of two
periods

Research Questions on: Impact of Dividend Policy on Firm’s
Performance
1. How Does Dividend Policy Affect Firm Performance?
2. What factors influences the Dividend policy of a firm?
3. What is the effect of tax (DDT) on Dividend policy?
4. What is the investor’s perception on the dividend policy

Formulation of Objectives
Each objective should be supported by
a) Previous similar studies done by researchers
b) Should be based on the research gap
c) Type of data/informations; source of informations; period of informations;
sample size should be decided
d) Analytical tools to be used to test those objectives should be clear
e) Based on the objectives, hypothesis should be formulated

Methodology for Research
A. Problem identification: Research problem can be identified after thorough review
of literature. Research Issues not addressed by previous authors can be considered
as Problem identified.
Lets take as example of reviewing literature on SME sector
▪ Financial Problems: About 80% of Small and medium enterprises are stifled
because of poor financing and other associated problems (Fatai2011)
▪ Management Problems: Lack of trained manpower and management skills also
constitute a major challenge to the survival of SMEs in Nigeria (West and Wood
1972).
▪ Inadequate Basic Infrastructure: Government has not done enough to create the
best conducive environment for the striving of SMEs (Tendler 1996).

Problem identification: (continues)
▪ Socio-Cultural Problems: Most Nigerian Entrepreneurs do not have the
investment culture of ploughing back profits (Bala 2002)
▪ Strategic Planning Problems: SMEs often do not carry out proper strategic
planning in their operations (Ojiako 2000)
▪ Location/Economic Problems: Market stores are dominated by absentee
landlords who charge exorbitant rates. The ownership of market stores by
politicians is crowding real small-scale operators out of the market (Osamwonyi
2005)
▪ Unstable policy environment: Instability in government policies have caused
some SMEs to collapse as very much evident as high mortality rate of SMEs in
Nigeria (Nzelibe 1996)

A. Example of Identifying Research GAP
Issue: Competitiveness of SME sector
After going through the literature on the SME’s performance and its ability to compete with
international business environment, following Gaps has been identified looking at the
problems identified after review of literature:
a. Changes of policies by federal government and its impact on the performance on the
selected SME is not documented in the present and existing literature with respect to India.
b. Large group of empirical findings suggests that SMEs find it difficult to enter and operate
internationally. Considering the present survey findings it seems less realistic due to two
reasons:
a) Very few work has been carried out in this respect and therefore would not be appropriate
to arrive at this conclusion,
b) Considerable research findings exhibits that SME has higher likelihood of operating
internationally in acceptable form.

B. Example of Identifying Research GAP
Issue: Financing of SME Sector
The literature review revealed number of sources of credit from government of India and
from banking and financial institutions for SMEs.
But previous literature does not document specifically the degree of accuracy whether the
financing available is sufficient to meet the needs of the SME sector or not. Therefore, more
research is needed in this area to:
(1) Identify the specific needs of the SME sector when it comes to financing medium
manufacturing enterprises in electrical and industrial machinery segment in Bangalore urban
district and
(2) Whether the financing available meets those needs in terms of both “quantity” and
“quality”, Edmore Mahembe, (2011).

C. Example of Identifying Research GAP
The review of the available literature in the form of various industrial policies indicates the
importance to creation of employment opportunities, encouragement to enterprise creation
and industrial capacity building for an inclusive growth & sustained development
importance. But following gaps are prominent such as:
1: No clear direction / policy framework designed for medium manufacturing enterprises in
electrical and industrial machinery segment
2: Misappropriation of targets to MSME Sector in terms of funds and subsidy allocation to
medium manufacturing enterprises in electrical and industrial machinery segment
3: Impact of FDI/FII not focused and the consequences not known especially on medium
manufacturing enterprises in electrical and industrial machinery segment.

Example of Objective of the Study
Aim: To assess the access to domestic and foreign capital and support by medium
manufacturing enterprises in electrical and industrial machinery segment in Dakshin
Kannada.
Creating Objectives:
1. To carry out literature survey of published research reports on FDI policy for
MSME sector and progress of MSME in India vis-a-vis with Karnataka state
2. To analyse the present funding arrangement from financial institutions to
medium manufacturing enterprises in electrical and industrial machinery
segment in Dakshin Kannada

Example of Objective of the Study
B. Creating Objectives:
3. To identify the purpose and need of foreign funding in medium
manufacturing enterprises in electrical and industrial machinery segment in
Dakshin Kannada
4. To determine the duration of the foreign funding through FDI
5. To analyse the present and prospective factors influencing the need for FDI
in electrical and industrial machinery segment in Dakshin Kannada

2. Creating a hypothesis: Lower capitalisation of SME units does not get required
funding from Banks
1. Ho1: Poor financing does not constitute a major challenge in the performance of
SMEs in Dakshin Kannada
2. Ho2: Inadequate social infrastructures do not constitute a major challenge in the
performance of SMEs in Dakshin Kannada
3. Ho3: Lack of fixed assets does not constitute a major challenge in the performance
of SMEs in Dakshin Kannada
3. Deciding a format for data collection / Questionnaire: Data should be collected as
per standard pre-tested questionnaire or as per information input format (as
suggested by doctors/medical board)

Process of Literature Review in Social Science Research

Empfohlen

Empfohlen

Weitere ähnliche Inhalte

Ähnlich wie Process of Literature Review in Social Science Research

Ähnlich wie Process of Literature Review in Social Science Research (20)

Kürzlich hochgeladen

Kürzlich hochgeladen (20)

Process of Literature Review in Social Science Research