Servicios de enseñanza que presta a los empleados de Banco

In general, research is undertaken to gain knowledge. Research is a systematic, formal, rigorous and precise process employed to gain solutions to problems and/or to discover and interpret new facts and relationships (Waltz & Bausell, 1981, p. 1). The purpose of research is to identify a problem that can be answered in a systematic investigation through analysis and for which appropriate conclusions can be drawn (Royal College of Nursing, 2000). Thus, a research undertaking is a process that organizes and facilitates analysis of a complicated research investigation.

In any research undertaking, it is important to understand the entire research process in order to plan effectively through all the stages of the research. The stages may vary from one research project to another and between researchers and type of research, but most formal research follows a general process. Saunders, Lewis and Thornhill (SLT) (2009) created a flow chart for the research process. This study follows a systematic process similar to the one taken by SLT 2009 in order to examine and assess the research problem stated in the introductory chapter. Specifically, the stages in the research process for the study are illustrated in Figure 5. that includes the relevant chapters for each stage.

The first stage of the research process begins with identification of the research problem, which is a formal statement of the objective of the study and a clarification of what is to be investigated. The main research question is restated from chapter 1 as follows:

‘Is‎ publicly‎ available‎ accounting‎ information‎ produced‎ by‎ implementing the IAS/IFRS useful to equity investors in the ASE as inputs into their investment decision-making‎process?’

Figure 5.2: The research process for this research study Source: Adapted from (Saunders, et al., 2009).

For convenience, certain terms in the main research topic were explained previously in chapters 1 and 2 but are provided here briefly. Firstly,‎ ‘publicly available’‎refers‎to‎information‎that‎is‎freely‎obtainable‎to‎the‎general‎public;‎that‎ is, users and non-users of information. ‘Accounting information’‎are‎the numbers contained in the financial statements of a company such as the income statement, balance sheet, and cash flow statement as a result of implementation of IAS/IFRS. As‎discussed‎in‎chapter‎2,‎‘useful’‎means‎that‎the‎financial information is both relevant and faithfully represented to equity investors and other users of financial statements according to the IFRS Conceptual Framework. The ‘investment decision-making process’‎ is‎ the‎ process‎ investors‎ use‎ to‎ decide‎ whether to buy, sell, or hold assets such as equity securities. Therefore, the

8) Conclusions, implications and recommendations chapter 7 7) Analyse the data using: chapter 6

Quantitative methods Qualitative methods

6) Plan the data collection & collect data using one or more of : chapter 5

Sampling Archival data Questionnaires Interviews

5) Access to the data and ethical issues chapter 5 4) Formulate the research design chapter 5 3) Understand the research philosophy and approach chapter 5 2) Critically review the literature chapters 2 & 3 1) Formulate & clarify the research topic in its context chapters 1 & 4

Title

Decision-usefulness of accounting information to equity investors of firms listed on the Amman Stock Exchange: an empirical investigation

purpose of this research is to investigate whether equity investors of the ASE find financial information that is produced from implementation of IAS/IFRS useful in making their investment decisions.

A major factor in choosing an appropriate research design depends on how the main research question will be answered. In order to answer the main research question more effectively, sub-questions (SQ) were formulated to give focus and direction to the research and to clarify and support the main question. SQs concentrate on areas that are essential to the understanding and development of the study, such as country specific background, prior research methods employed and model specifics, to name a few. Each SQ is answered in specific corresponding chapters with comprehensive research, statistical, and or descriptive analysis as appropriate throughout the progression of the thesis. Figure 5.3 illustrates the overall link between the main research question and the SQs with the relevant chapters where each question is addressed.

Figure 5.3: Main research question, sub-questions & corresponding chapters MAIN RESEARCH QUESTION

Is publicly available accounting information produced by implementing IAS/IFRS useful to equity investors in the ASE as inputs into their investment decision making

process?

1st sub question: Do equity investors in the ASE use the accounting

information-based models, REM, P/E and P/B, as inputs into their investment

decision-making process?

Chapter 6

2nd sub question: How have the

developments within the ASE and the Jordanian accounting profession influenced the usefulness of accounting information produced from the

implementation IAS/IFRS? Chapter 4 & 6

3rd sub question: What models have been used to examine decision- usefulness of accounting information as a result of implementing IAS/IFRS? Chapter3 & 6

Research questions provide focus and direction for the researcher to undertake the investigation (Onwuegbuzie & Leech, 2006).The form of the research question is very important because it will indicate which research methods are better suited to answering the questions. The type of research questions will determine which research strategy, approach, methods, data collection and analysis techniques to employ. “Most‎quantitative‎questions‎fall‎into‎three‎categories: (a) descriptive. (b) comparative and (c) relationship (Onwuegbuzie & Leech, 2006, p. 481). Figure 5.4 below displays the three types of quantitative research questions.

Figure 5.4: Typology of quantitative research questions Source: (Onwuegbuzie & Leech, 2006, p. 481).

This study examines two variables in order to compare three study groups. Therefore, the main research question and SQ1 take the form of comparative questions. Section 5.4.1 defines and explains the dependent and independent variables being examined in order to answer the main research question.

In contrast, qualitative research questions are non-numerical and tend to address ‘what’‎and‎‘how’‎questions” (Onwuegbuzie & Leech, 2006, p. 482). Accordingly, SQ2 and SQ3 are more descriptive questions. However, both quantitative questions and qualitative questions will need to be answered using a different but suitable research design. The fourth stage in the research process will address

How many variables are being

examined?

One

Descriptive question

Two Are two or more

groups being compared? Yes Comparative question No Relationship question

which research design and methods are most appropriate to answer the research questions listed in Figure 5.4. This study asks both quantitative and qualitative questions and employs a mixed method of research design to answer them.

SQ1 is presented in Figure 5.5 that illustrates the research methodology, the research strategy and type of data needed to answer both the qualitative and quantitative forms of the question. Full details of the research methodology for SQ1 are discussed in Sections 5.4 and 5.5.

Figure 5.5: First sub-question for the study *The questionnaires are the same.

Do equity investors in the ASE use the accounting information-based models, P/E and P/B, as inputs into their investment decision-making process?

METHODOLOGY Qualitative research

Interviews & Questionnaires*

Primary data

collected from open ended questions administered to individual &

institutional equity investors of the ASE

Primary data from interviews to members of the accounting profession in Jordan Qualitative descriptive analysis Quantitative research Cross-sectional Questionnaires* Primary data collected from closed ended questions administered to individual & institutional equity investors of the ASE Non parametric statistics Longitudinal analysis Parametric statistics of secondary data collected from the ASE during the period from 1980- 2009

ASE annual data of historical year end closing share prices & selected accounting data Inferential statistics: hypotheses testing of variables: share price and market- based ratios

SQ2 is addressed with quantitative and qualitative research methods. The quantitative method employs parametric and non-parametric statistics to examine the data and analyse the results. The qualitative method uses descriptive analysis to address the question. Figure 5.6 illustrates the research methodology, the research strategy and type of data needed to answer SQ2.

Figure 5.6: Second sub-question for the study

Qualitative data is needed to answer SQ3; therefore, descriptive analysis is used to address the question. Figure 5.7 illustrates the research methodology, the research strategy and type of data needed to answer SQ3. Descriptive analysis

What models have been used to examine the usefulness of accounting information to equity investors?

METHODOLOGY

Non-parametric statistics of primary data from questionnaires Literature review & analysis

Survey research Primary data collected from questionnaires Descriptive analysis of questions Non-parametric statistics for questions Empirical studies Decision usefulness of accounting information

Ball & Brown (1968) Beaver (1968) Molodovsky (1995) Ohlson (1995, 1999)

Fama & French (1992)

Barth, Beaver & Landsman (2000a)

Lui, Nissim & Thomas (2002) Studies in Jordan Al-Rai (2001a, 2001b) Haddad (2001b) Abu Nassar & Al-Debi'e (2002) Gaps in the literature Link to thesis

from chapter 4 that discussed the developments within the ASE and the accounting profession are used to answer SQ3. Also, section 5.5 contains the details of the research methodology for this sub-question.

Figure 5.7: Third sub-question for the study

The second stage in this research is to critically review the prior literature and identify gaps in the research that will contribute to knowledge. Primarily, capital markets provide an efficient means to exchange excess funds into the most productive investment projects through the forces of supply and demand for assets. Essential to the investment process are the investors, who rely on information to make these investment decisions. Key concepts, theoretical and empirical literature review, and relevant country background were discussed at length in chapters 2, 3, and 4.

How have the developments within the ASE & the Jordanian accounting profession influenced the decision-usefulness of accounting information

produced by implementing IAS/IFRS? METHODOLOGY

Descriptive analysis of environmental influences

Qualitative analysis of primary data collected from questionnaires Qualitative analysis of primary data gathered from interviews

Qualitative research Interviews ASE member Accounting profession

Primary data from open- ended questions Questionnaires Institutional investors Primary data from open- ended questions Amman Stock Exchange Development of ASE Legislative & regulatory reforms Influence on decision-useful accounting information Accounting profession Development of accounting profession Implementation of IAS/IFRS Influence on decision-useful accounting information