Methodology of prospective and current research in finance
Date
2020-02-24
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Видавництво Львівської політехніки
Lviv Politechnic Publishing House
Lviv Politechnic Publishing House
Abstract
The article deals with issues related
to research methodology in the financial field. An
important aspect of the author’s approach is a new look
at the research, which is proposed to be considered as
prospective and current. The argument for this approach
is the need to combine traditional basic and applied
research into a group of prospective, ie those that result
in some long-term goals and can usually result in
scientific novelty. Instead, current research is no less
practical. It is through current research that the
necessary measures are being implemented. This applies
to technical, technological, organisational, economic and
financial measures, which ultimately provide some
improvement in the activities of any entity. The
characteristics of prospective and current research are
given, which determine the differences between them. In
particular, such characteristics are: the expected result,
the tools for the study and the composition of
researchers – performers of prospective or current
research. Based on the division of research into
prospective and current, the different directions of these
types of scientific and practical research are determined.
It is noted that the formulation of tasks of different
purpose and nature requires the definition of certain predefined sets of research methods. Narrowing of
methodical tools can lead to erroneous results. Instead,
an integrated approach, formulated not only for a
hypothetical goal and potential outcome, but also for the
choice of research methods, is an important safeguard
against erroneous conclusions. To do this, a matrix has
been developed, in which complexes of research
methods (for several examples) have been formed,
which will allow to obtain the most substantiated result
of the research, both prospective and current. Such
examples are: economic and social efficiency of
financial research, public policy in the field of finance,
funding schemes for research. A study of well-known
empirical and theoretical research methods has been
carried out, from the standpoint of the peculiarities of
financial research in scientific and practical activities. In
particular, examples from the financial sphere of
possible searches, with the help of general methods of
analysis, synthesis, induction, deduction and analogy,
are investigated and given. From empirical methods
examples of directions of possible researches, with use
of comparison, experiment, modeling, are considered
and resulted. The generally accepted and special
characteristics of research in the field of finance are
considered. Among them are important for financiers the
concept of science and the need to master the scientific
approach to financial research; the nature and
characteristics of the research process; scientific
(theoretical) base and financial aspects of research; research
priorities; directions of research of natural and social
sciences; stages of scientific research; methodological
approach to the study of efficiency in finance. These issues
are important for researchers, as well as for students and
graduate students studying in financial educationalprofessional and educational-scientific programs.
Description
Keywords
research methodology in finance, prospective and current research, general scientific methods of research in finance, empirical methods of research in finance, a complex of research methods in financial policy, effectiveness research methodology in finance
Citation
Alieksieiev I. Methodology of prospective and current research in finance / I. Alieksieiev, A. Mazur, A. Moroz // Economics, Entrepreneurship, Management. — Lviv : Lviv Politechnic Publishing House, 2020. — Vol 7. — No 2. — P. 46–60.