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Chapter 3

Research Methodology

 

3.1 Overview of the Chapter

            This study was conducted in order to assess the challenges post by the new accounting rules and practices in HK with regards to real estate industry. To be able to gather the necessary data, the researcher utilized the descriptive method, using both qualitative and quantitative approaches. Herein, the chosen responded were randomly selected from various real estate industry in HK. The survey methods were the research instruments used for the data-gathering.

The employees of real estate who have been chosen in this study accomplished a survey questionnaire to evaluate the challenges facing the real estate industry in Hong Kong. The results of the survey were then processed by computing the weighted mean of each survey item. The computed values were compared to the Likert scale for data interpretation. Relevant literatures were also used to support the gathered findings.

The credibility of findings and conclusions extensively depend on the quality of the research design, data collection, data management, and data analysis.  This chapter will be dedicated to the description of the methods and procedures done in order to obtain the data, how they will be analysed, interpreted, and how the conclusion will be met. This section is to justify the means in which the study was obtained and will help in giving it purpose and strength as it will then be truthful and analytical. All these will help in the processing of the data and the formulation of conclusions.

Specifically, this research will cover the following: the research design and method, the respondents or subjects to be studied (which will include the sampling method), the data collection instrument, and the data analysis. These will be presented below.

 

3.2 Research Methods

This study utilized the descriptive method of research. As widely accepted, the descriptive method of research is a fact-finding study that involves adequate and accurate interpretation of findings. Descriptive research describes a certain present condition. Relatively, the method is appropriate to this study since it aims to describe the present condition of technical analysis as it is used in the stock market. The technique that was used under descriptive method is the normative survey approach and evaluation, which is commonly used to explore opinions according to respondents that can represent a whole population. The survey is appropriate in this study because it enables the researcher in formulation of generalizations. Specifically, two types of direct-data survey are included in this study. These are questionnaire survey and interviews. Interviews with researchers, venture capital practitioners, and other colleagues in the academy were conducted to provide further insight about the results of the survey. The direct-data type of survey is a reliable source of first-hand information because the researcher directly interacts with the participants. The questionnaire survey respondents were given ample time to assess the challenges facing the real estate in HK. Their own experiences with real estate in practice are necessary in identifying its strengths and limitations. 

The purpose of employing the descriptive method is to describe the nature of a condition, as it takes place during the time of the study and to explore the cause or causes of a particular condition. The researcher opted to use this kind of research considering the desire to acquire first hand data from the respondents so as to formulate rational and sound conclusions and recommendations for the study. According to Creswell (1994), the descriptive method of research is to gather information about the present existing condition.  Since this study is focused on the perception or evaluation of the consultancy firm's effective human resource management, the descriptive method is the most appropriate method to use.

Two types of data were used: the primary and the secondary data. The primary data were derived from the answers respondents gave in the self-administered questionnaire prepared by the researcher. In addition, the information obtained from the interview also provided primary research data that supported the study. The secondary data on the other hand, were derived from the findings stated in published documents and literatures related to the research problem. These were based from the recent literatures related to real estate in HK and the factors that challenge it and the accounting rules and practices in HK and the concepts cited by the respondents.

In terms of approach, the study employed both qualitative and quantitative approaches. The quantitative approach focused on obtaining numerical findings was used with the survey method. The interview on the other hand, made up the qualitative approach of the study as this focused on personal accounts, observations, description and individual insights of the respondents. This study employed the combined approach so as to overcome the limitations of both approaches.

 

3.3 Direct-data Survey

Direct-data survey aims on collecting pertinent data about technical analysis. Accordingly, direct-data survey is used to reveal the status of some phenomenon within an identified class of people, organisations, or regions at a particular time through questionnaire and interview to directly collect information (Brubaker & Thomas, 2000).

The aim of the survey is to obtain pertinent data to achieve the research objective.  The site of the study was the prime real estate industries and accountants. Representative samples were taken using a random sampling approach. In this research study, the critical examination of the HK government's accounting policy regarding was made. The responses, observation and approval of the respondents towards these policies were gathered.

In this study, the chosen respondents will be selected from industries and other people who are related to real estate and decision-making. Interview questions will focus on the research problems and questions. The dissertation used self-administered questionnaire as the main tool in collecting data from a large number of respondents.

 

3.4 Respondents of the Study

The study will have respondents directly from the chosen real estate industries in HK. This may include managers, accountants and other knowledgeable employees.  All of these participants were selected through random sampling. This sampling method is conducted where each member of a population has an equal opportunity to become part of the sample. As all members of the population have an equal chance of becoming a research participant, this is said to be the most efficient sampling procedure. In order to conduct this sampling strategy, the researcher defined the population first, listed down all the members of the population, and then selected members to make the sample. For this purpose, a self-administered survey questionnaire in Likert format was given to the respondents to answer.

Herein, there were 100 participants for the questionnaire survey and five individuals for the interviews. The respondents were given 5 days to complete the survey questionnaire upon request. After collecting the questionnaires, the responses will be tallied, computed, analysed, and recorded.

One the other hand, for the personal interviews, most of the interviewees were given time according to their convenience. Choices were given for the interviewees who will answer the interview questions, through phone, email, online conversation, chat or personal interview. There were only five participants who were willing and/or had the chance to share their time and talk about their experience in real estate.

 

3.5 Instrumentation

1. Content analysis

Content analysis was done to analyse communications in order to answer two levels of questions – the descriptive and the interpretive. Descriptive questions focused on what the communication contains. Interpretative questions focused on what the contents was likely to mean. The process entailed searching through one or more communication to answer questions that an investigator brings to the search (Brubaker & Thomas, 2000). Content Analysis was used to analyze and interpret the interviews.

 

2. Statistical Treatment

            The Likert scale was used to interpret items in the questionnaire. These responses were based on the respondents' assesHK Real Estatent of the current investment process model. There were instances that the respondents were asked to rate the effectiveness of implementing the phases in the investment process. The range and interpretation of the five-point scale are shown in Table 2.

 

Table 2

 The Five-point Likert Scale

Scale

Range

Interpretation

5

4.01 – 5.00

Strongly Agree

4

3.01 – 4.00

Agree

3

2.01 – 3.00

Uncertain

2

1.01 – 2.00

Disagree

1

0.01 – 1.00

Strongly Disagree

 

Weighted mean was used to measure the general response of the survey samples, whether they agree to a given statement or not.

The formula in computing weighted mean is as follows:

                                    Where:            f – weight given to each response

                                                            x – number of responses

                                                            xt – total number of responses

The survey result was analysed with the use of statistical approach and Microsoft Excel spreadsheets.

 

 

3.6 Ethical Considerations

             As this study utilized human participants and investigated on real estate and accounting rules and practices in HK, certain issues were addressed. The consideration of these issues is necessary for the purpose of ensuring the privacy as well as the security of the participants. These issues were identified in advance so as prevent future problems that could have risen during the research process. Among the significant issues that were considered included consent, confidentiality and data protection.

 In the conduct of the research, the survey forms and interview methods were drafted in a very clear and concise manner to prevent conflicts among respondents.  People who participated in the research were given an ample time to respond to the questions posed on them to avoid errors and inaccuracies in their answers. The respondents were given a waiver regarding the confidentiality of their identity and the information that they did not wish to disclose. The respondents' cooperation was eagerly sought after, and they were assured that the data gathered from them would be treated with the strictest confidence, so that they would be more open. This was done with the hope that this would promote trust between the researcher and the respondents.

 

 


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