steps involved in writing a research report a....

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STEPS INVOLVED IN WRITING A RESEARCH REPORT

a. Abstract

An abstract is a summary of the entire work, the abstract should be written

capturing the following, a short preamble about the topic, the topic, objectives,

methodology, findings and recommendations.

Note that there should not be spacing or paragraph between the contents of the

abstract. This should come before the table of contents and also before the main

work starts.

b. Research Topics

A research topic is a title given to a research work, it is developed based on an idea

or a problem identified in a society, organization or an industry that needs to be

addressed by the researcher.

When developing the topic, the researcher should ensure that the contents

should not exceed 16 words.

Sample: Research Topic(s)

1. A c c o u n t i n g :

A study on the sources of financing for deposit taking micro finance

Institution. A case Study of ……………..

2. Human Resource management:

An assessment of the effect of motivation on productivity in manufacturing

organizations. A case Study of ……………..

3. M a r ke t i n g :

An evaluation of the impact of sales promotion on consumer

behaviour .A case Study of ……………..

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1.1 Introduction

Chapter one

General Introduction and Summary

Every chapter should have an introduction, the introduction should either introduce

the reader to what is expected to be contained in the chapter, or the introduction

should present a brief idea about the topic and the problem to be researched into.

1.2 Field and subject area of study

The field of study for the research work should focus on the broad course or

program of study e.g Accounting, Finance, Economics, Computer Science,

Information technology etc.

The subject area of study:

This refers to a sub unit under the field of study that the research topic seeks to

research into:

a. Taking a field of study such as Accounting; the subject of study could be any

of the subjects that alls under the field of accounting, such as; Taxation,

auditing, cost accounting, financial accounting, etc,

b. Taking a field of study such as Finance; the following subjects can be

studied, working capital management, cash management, sources of

financing, inventory management, dividend policy, capital structure, money

markets, capital markets etc

c. Taking a field of study such as human resource management: the subject of

study could be training and development, motivation, compensation

management, recruitment and selection, performance management etc.

d. Taking a field of study such as marketing; the subject sales management,

marketing mix, customer relationship management, advertisement

management, promotion, marketing research etc.

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e. Taking the field of information technology, the subject area can be web

programming, software engineering, data bases, computer networks, network

security , computer ethics etc.

1.3 Purpose of the Research

The purpose of the research provides the broad idea or understanding of what

the research seeks to achieve in the long run.

Sample: Purpose of Research

The purpose of this study is to gain a better understanding of how the capital

structure of deposit taking micro finance institutions affect the financial

performance of these institutions.

1.4 Objective of the study

The research objectives, are statements that are framed with the intention of

addressing the problems identified in the research; the objectives are the statement

indicating what the researcher intends to do to address the problems identified. The

objective are of two kinds, these are:

Specific objectives are statements made by the researcher that aims at addressing a

particular problem in the case study organization or a general problem in society;

specific objectives should be framed focusing on the case study institution.

Example

To determine the extent to which student age of students at Accra institute

of Technology (AIT) has affected their academic performance.

To find out the challenges faced by AIT in managing students absenteeism

To establish the relationship between Age and Academic work as a

determinant of performance at AIT.

To assess the relationship between the mode of delivery and the performance

of students of AIT.

To examine the extent to which course work has helped improve the

performance of students at AIT

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1.5 Problem Statement

The problem statement is the process of the researcher stating the problems that led

to the researcher conducting the research. In stating the problem, the researcher has

to indicate the actual problem that has led to the researcher to conduct the research

clearly, the researcher should further present the initial or prior research done by

other writers, the areas they have looked at and the results that came out of that

research, finally the researcher should indicate what he or she seeks to do in his or

her research, this comes from the difference in his or her research and that of what

the earlier researchers have done so far.

Sample: Research problem statement

The Problem Setting

Ghana over the past five years have seen a tremendous increase in the number of

micro finance intuitions. These institutions play a major role by providing

financial support for the informal sector, who are unable to access financial

support from the Banking institution. These financial institutions need to raise

funds to be able to support their clients financially.

A firm’s capital structure refers to the mix of its financial liabilities. It has

long been an important issue from the strategic management standpoint since it

is linked with a firm’s ability to meet the demands of various stakeholders (Roy

and Minfang, 2000). Debt and equity are the two major classes of liabilities,

with debt holders and equity holders representing the two types of investors in

the firm. Each of these is associated with different levels of risk, benefits, and

control. While debt holders exert lower control, they earn a fixed rate of return

and are protected by contractual obligations with respect to their investment.

Equity holders are the residual claimants, bearing most of the risk and have

greater control over decisions.

Managers have numerous opportunities to exercise their discretion with respect

to capital structure decisions. The capital structure employed may not

be meant for value maximization of the firm but for protection of the

manager’s interest especially in organizations where corporate decisions are

dictated by managers and shares of the company closely held (Dimitris,

and Psillaki, 2008). Even where shares are not closely held, owners of equity

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are generally large in number and an average shareholder controls a minute

proportion of the shares of the firm. This gives rise to the tendency for such a

shareholder to take less interest in the monitoring of managers who left to

themselves pursue interest different from owners of equity

The difficulty facing Deposit Taking micro finance institutions in Ghana has to

do more with the financing – whether to raise debt or equity capital. The issue of

finance is so important that it has been identified as an immediate reason for

business failing to start in the first place or to progress. Thus it is necessary for

Deposit taking micro finance institutions in Ghana to be able to finance their

activities and grow over time, if they are ever to play an increasing and

predominant role in creating value added, as well as income in terms of

profits. From the foregoing, it is therefore important to understand how firm’s

financing choice affects their performance. It is evidently clear that both

internal (firm specific) factors and external (macroeconomic) factors could

be very important in explaining the performance of firms in an economy. Thus,

the central point of this study is to assess the effect of capital structure on

financial performance of Deposit taking micro finance institutions.

Prior Studies/Works

There have been several studies investigating the sources of capital of firms

in different business sectors such as electricity and utility companies (Miller &

Modigliani, 1966), manufacturing sector (Long & Malitz, 1985; Titman &

Wessels, 1988), non-profit hospitals (Wedig, Sloan, Hassan, & Morrisey, 1988),

agricultural firms (Jensen & Langemeier, 1996) and joint venture-ships

(Boateng, 2004). In the research of Jensen & Langemeier, (1996), the findings

in the study indicated that industrial or sector classification is an important

determinant of capital structure, because different sectors employ different mix of

debt and equity for their operations.

There have also been studies emphasizing on the relationship between sources of

funding of micro finance institutions a n d firm performance. Berger and

Bonaccorsi di Patti (2006) argued that firm performance and funding sources

could be closely correlated. They used data on commercial banks in the US and

their results are consistent with the agency theory, under which high leverage

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reduces the agency costs of outside equity and increases firm value by

constraining or encouraging managers to act more in the interests of shareholders

(Berger & Bonaccorsi-diPatti, 2006).

Abor (2005) on “The effect of sources of funding on profitability: an empirical

analysis of listed firms in Ghana”, show a significantly positive relation

between the short-term debt ratio and profitability (measured by ROE).

However, a negative relationship between long- term debt ratio and profitability

was established. But in terms of the relationship between total debt ratio and

profitability, the results of his study indicated a significantly positive

association between total debt ratio and profitability (Abor, 2005).

Nwangi, (2011), investigated the relationship between the capital structures of

deposit taking micro finance institutions in Kenya, he observed that there is a

significantly positive association between total debt ratio and profitability

The Focus/what is New Although studies have been done by several researchers on sources of funding

for different institutions, not much has been done in the area of sources of

funding for deposit taking micro finance institutions in Ghana. It is against this

backdrop that the researcher seeks to conduct a study on the sources of funding

for Deposit Taking micro finance institutions in Ghana.

1.6 Research Questions

Research questions are questions set by the researcher to guide the researcher in

achieving the set objectives, the research questions can be derived from the

research objectives, by changing the from a statement to a question.

Example.

To determine the extent to which student age of students at Accra institute

of Technology (AIT) has affected their academic performance.

Are there challenges faced by AIT in managing student’s absenteeism?

What relationship exist between Age and Academic work as a determinant

of performance at AIT?

What relationship exist between the mode of delivery and the performance

of students of AIT?

To what extent has course work helped to improve the performance of

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students at AIT?

1.7 Significance of the study

The significance of the study provides the reader information on how important the

research is in addressing the problems identified, here the student is expected to

present the significance from the following angles;

i. How beneficial the research will be to the society and Economy of Ghana

ii. How beneficial the research be to the case study institutions and industry

at large

iii. How beneficial the research would be to the researcher or other

researchers in general.

1.8 Background and Justification of the study

The background of the study presents a step by step general knowledge on the

research topic and the extent to which issues have gone, it provides the reader with

the preliminary research done on the study or research topic. It is expected to

provide the reader with the history or global knowledge on the research area

chosen, what other researchers have done, their results, where or areas they looked at

and what your research seeks to do that is different from that work you have

reviewed. It should also provide the reader with the current state of the research or

issue on the national level and finally narrowing it down to the case study

organization and indicating the reason why the researcher decided research into the

given area.

This part is expected to justify or provide a solid basis for which the research work

is necessary, this usually comes from the gaps in literature, facts that support the

need such company reports and public reports, imediate actions taken by

management etc to remedy the situation. e.g for a research topic that seeks to

assess the internal control systems of an organizations may have the following as

justifications for which the research may be conducted;

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Example.

1. Research gaps in the field of the research coming from related literature

2. Cases of reported fraud from the organization, for which employees have been

either suspended or dismissed

3. Cases or issues that have been taken to court for which the organization have

lost or paid substantial amounts which hitherto could have been avoided

4. Continuous or downward trend in company’s revenue, affecting its fortunes.

iv. Administrative policies and laws that have been enforced due to fraud or

other malfeasance

1.9 Expected Outcome and Possible usage

The expected outcome and possible usage of the study, provides the reader

information on what is expected to come out of the research and how the results

can be used;

i. The expected results from the research in relations to the objectives set.

ii. How the case study organization would use the results

iii. How companies within the industry would use the results

iv. How other researchers would use the results

1.10 Limitations and Delimitation

1.10.1 Limitations

This part should explain the challenges that are likely to affect the researcher in

carrying out the research work, this should range from literature, sampling,

respondents, time factor, funding and other factors that will affect the researcher in

carrying out the research

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Example

The research work would not be without limitations, it is envisaged that the research would might

affected by the following challenges;

The literature search might not present enough and adequate literature to support the research, the

selection of the sample size and the sampling procedure might not present adequate and reliable

sample size, the sampling units for the research and their availability might pose a challenge due to

their work schedule and their ability to assist in the research. Analysis tools may not produce results

that may reflect the actual situation, security and confidentiality issues may also affect the responses

from the respondents. On the part of the researcher time and lecture schedules may affect the

researcher’s ability to meet deadlines and do extensive work. Also the researcher may be

constrained with financial challenges that may affect the data collection.

1.10.2 Delimitation

Delimitations should spell out the how the limitations above would be addressed

Examples

In order to reduce the limiting factors, the researcher would limit the scope of literature to be

searched to reflect the selected objectives and topic, the researcher would also adopt tested

sampling methods that produced results to narrow the chances or errors occurring, the researcher

would further assure the respondents and organization of the confidentiality of the responses that

would be provided by the respondents. The sample size would be drawn from individuals who have

the requisite skills and knowledge in the research topic or their field of work relates to the subject

area been investigated

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1.11 Layout of thesis

This part of the thesis presents, how the research work would be organized, it must

be noted as part of the universities policy, the capstone is divided or made up of

five chapters, the researcher or student is supposed to present a summary of the

expected contents, chapter wise for all five chapters. This should not be too

detailed but provide a summarized idea of all the contents.

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2.1 Introduction

Chapter Two

Literature Review


the reader to what is expected to be read in the chapter, this should present the

contents of the chapter in a summarized for, or the introduction can present or

introduce the reader to the concept or topic been researched.

2.2 Theoretical Framework

Theoretical literature reviews, literature on theories surrounding or relating to a

topic or variables in a topic, for instance if the topic is on the effect of motivation

on the performance of employees, the theoretical framework will review theories

from other writers on capital structure. E.g. MM Theory, Perking order Theory,

Agency cost theory etc. after reviewing these theories the researcher or the

student needs to indicate which theory he or she is adopting and why he adopted or

used that theory.

Sample: Theoretical framework on capital structure

2.2.1 Ground Theory from Modigliani and Miller

Modigliani and Miller (1958) contend that the capital structure is independence of

the value of a company in the perfect market, which is an efficient market without

taxes, bankruptcy costs, agency costs and asymmetric information. Modigliani and

Miller theory is the foundation stone of the study of capital structure, but the

unrealistic assumption is refuted by the following theories, for instance, trade-off

theory (Kraus and Litzenberger, 1973), pecking order theory (Myers and Majluf,

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1984) and agency costs theory. The following theory is test through empirical

studies, which is also good argument to illustrate the unreality aspects of the

Modigliani and Miller theory.

2.2.2 Agency Cost Theory

Jensen and Meckling developed the capital structure theory based on the agency

costs in 1976. Firm incurs two types of agency costs-cost associated with the outside

equity holders and cost associated with the presence of debt in capital structure

(Jensen and Meckling 1976). Total agency cost first decreases and after certain level

of outside equity capital in capital structure, it increases. The total agency cost

becomes minimal at certain level of outside equity capital. Thus, this theory pleads

the concept of optimal capital structure.

The agency cost theory (Jensen and Meckling, 1976) is fairly arguable, because

some researchers think the agency theory is a branch of static trade-off theory, based

on the information asymmetry between shareholders and managers. However, other

researchers believes that the agency costs theory is a solely theory that can explain

the determinants of capital structure. The former arguments think the premise of the

theory is that the interest of the agency is not perfectly aligned with the interest of

the shareholders. Therefore, the manager would possibly make decisions on the

project with significant risk by using the capital of others. To avoid the risk shifting

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to the shareholder, the debt is increased to create the distress pressure and lessen

the nonaligned behaviour from the managers (Armada, Nunes and Serrasqueiro,

2011; Degryse, de Goeij and Kappert, 2012; Mahajan and Tartaroglu, 2008).

2.3 Empirical Review of literature

This part reviews theories on the objectives of the research, here the researcher

would pick each of his or her objectives stated in chapter one, review literature on

each of them, stating what researchers have done on it, what their findings were

and how different it is from your work, this should be done for each objective.

e. g. 2.3.1 Effect of motivation of employees performance

2.3.2 Relationship between motivation and performance

Sample Empirical Review of literature

2.3.3 Relationship between funding structure and financial performance

Hartarska et al (2009) studied Microfinance Institutions in East Europe and

Central Asia for the years 2003 and 2004 to determine which ones were

becoming more cost effective with time. Cost functions for MFIs were estimated

using translog form for all estimations. Regression analysis was then

used to analyze findings . Their findings revealed that larger MFIs offering

deposits and those receiving lower subsidies operated more cost effectively over

time and vice versa.

Bogan (2008), examined existing sources of funding for MFIs by geographic region,

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and explored how changes in capital structure could facilitate future growth and

improve the efficiency and financial sustainability of the MFIs. Data over a

period of three years in Africa, East Asia, Eastern Europe, Latin America, the

Middle East between 2000 and 2003 were examined to explore the role that

different sources play in determining the success of MFI s. They concluded that

only by weaning off donor dependency and adopting a commercial orientation

can MFIs truly attract the capital and savings base they need to scale up their

micro loan portfolios, increase sustainability, lower lending rates, increase

outreach and meet their demands. Further, they found that financing tools could be

used to decrease transaction costs and increase liquidity in the MFIs.

Regarding Grameen’s present sustainability, opinions are divided. Grameen Bank

itself claims to have reached sustainability. The decision to become free of donor

funds was made in 1995 when the last request for donor funds was issued.

Grameen felt it would be increasingly able to raise funds from the commercial

market and its own business. It wanted to improve its access to the capital market.

Additionally, it did not want to be dependent on the policy prescriptions of donors

(Yunus and Jolis, 1998). Grameen aims at funding its loans entirely from deposits

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one day. According to the bank’s balance sheets, Grameen has run a profit in

nearly every year since its start of operations (Grameen Bank, 2005).

2.4 Conclusion

From the literature reviewed, the student or the researcher should conclude by

explaining how different his or her work is from that of other researchers.

Note: the Referencing style follows the APA version 6

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Chapter Three

Research Methodology

3.1 Introduction





3.2 Research Design

In this part, the researcher is expected to indicate the type of research design he or

she is going to use and why, for instance if the research is a descriptive study or an

exploratory or any other type it should be indicated, with the reason, and also is

the research will be a qualitative research, quantitative or mixed research strategy,

this should be indicated stating the reason behind the adoption of the strategy. Also

whether it is a survey or any other type, it should be indicated with reason.

3.3 Population of the Study

This part describes the total population as well as the accessible population of the

study, the population is the total units or people in the organization or study

population. E.g the population for AIT, would be the entire staff and students of

Accra institute of Technology, and the accessible population is the population that

the researcher can have access to. The population should be stated in real numbers

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or a rough idea and an indication given as to how the population was determined.

E.g the total population of students can be taken from the admissions offices whilst

that of staff from the Human Resource Department.

3.4 Sample and sampling Procedure

3.4.1 Sample size

The sample size refers to a sub unit selected from the population, this is done when

the population is large, and inaccessible, where a sample is selected, the researcher is

supposed to indicate the number selected out of the population, and provide the

reason for selecting that number.

3.4.2 Sampling Procedure

This refers to the procedure or process used by the researcher to select the sample

size, here the researcher should note that there are two types of procedures,

probability and non-probability.

Probability follows a systematic procedure, e.g. random, simple random, quota

sampling, systematic random sampling etc.

Non-probability does not follow any pattern or laid down procedure, e.g

judgmental, purposive, convenience sampling etc.

If all members of the population are been used, where the population is less than

50, then a census survey should be adopted. On the other hand if the student or the

researcher is using multi stage sampling method, that is a combination of strategies,

this should be explained in detail stating the reason.

It must be noted that the researcher should explain the reason for the adoption of

each method used.

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3.5 Data and Data collection Tools

3.5.1 Source of data

This part describes the sources of data to be used for the research, that is primary

or secondary data and the reason for the source indicated.

3.5.2 Data collection Tools

This part describes the data collection tools to be used, that is questionnaire,

interview guide, observation etc, this should be explained in detail and the reason

for using them indicated

3.5.3 Administration of data collection Tools

This part explains in detail how the tool is designed, the types and nature of

questions on the tool, whether there was pretesting, mode of distribution of the

instrument of data collection that is personally or by mail or via a third part or

organization etc, mode of collection that is how the instrument would be collected

back.

3.6 Analysis of Data

This part describes how the researcher would code, analysis and present the data

analyzed, the tools that would be used and why those tools would be used. That is if

Microsoft excel, Amos or any other software’s or applications were used.

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4.1 Introduction

Chapter Four

Data Analysis and Results





4.2 Statistics of data collected

This part should provide the reader with the summary of the data collected from the

field, that is how many questionnaires were distributed and how many were

collected back, this should be expressed in percentages and explained indicating the

implication or what it means.

4.3 Analysis of data collected from Customers

The researcher or the student should present the data as per the objectives of the

research. Data relating to objective one should be presented under objective one

this should be done using a table, chart or a combination of both. Refer to how to

label tables and charts below.

4.3.1 Objective 1 Analyze all questions that fall under objective one

4.3.2 Objective 2 Analyze all questions that fall under objective two

4.3.3 Objective 3

Analyze all questions that fall under objective three

4.3.3 Objective 4

Analyze all questions that fall under objective four

4.4 Analysis of data from management (if Applicable)

The researcher or the student should present the data as per the objectives of the

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research. Data relating to objective one should be presented under objective one etc

4.4.1 Objective 1

Analyze all questions that fall under objective one

4.4.2 Objective 2 Analyze all questions that fall under objective two

4.4.3 Objective 3

Analyze all questions that fall under objective three

4.4.3 Objective 4

Analyze all questions that fall under objective four

Using Tables and charts in your presentation

Use of tables and how to label them and provide a source:

1. Each table or chart should have a heading as indicated below;

2. Each table should have a source as below;

e.g. Table 4.1 : Age of respondents

Source: Researcher’s field survey, May 2016

Use of Charts and how to label them and provide a source:

3. Each table or chart should have a heading as indicated below;

4. Each table should have a source as below;

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Chart 4.1: Age of Respondents

Chart Title

6

5

4

3

2

1

0

Category 1 Category 2 Category 3 Category 4

Series 1 Series 2 Series

3

Source: Researcher’s Field survey, May 2016

Kindly note that the year is the month and year indicated in the source

refers to the period in which the research was done.

Kindly note that the numbering for the tables can take the form, table 1,

2, 3 etc Or table 4.1, 4.2, 4.3 etc. Same applies to the charts and figures

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Chapter Five

Summary of findings, Conclusion and Recommendations

5.1 Introduction





5.2 Summary of findings

The researcher or the student should present the findings as per the objectives of

the research. The findings should be categorized into the various objectives and

presented under each of them.

5.2.1 Objective 1 Present the summary of findings as they relate to objective one

5.2.2 Objective 2 Present the summary of findings as they relate to objective two

5.2.3 Objective 3

Present the summary of findings as they relate to objective three

5.3 Conclusion

The conclusions drawn from the research should be stated, here it must be noted

that the research had several objectives, the conclusions must indicate whether

these objectives have been achieved or other wise and what the way forward is.

5.4 Recommendations

5.4.1 Recommendation for management

Here based on the findings of the research, the researcher should provide

recommendations to management.

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5.4.2 Recommendations for future research

Based on the fact that the research suffered some limitations, it is imperative for

the researcher to make recommendations for other researchers to look at .

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References

The researcher should attach all references, the references should be arranged in an

alphabetical order, e.g from (A to Z), following the APA format for out text

referencing.

Sample References

Armada, M. R., Nunes, P. M. & Serrasqueiro, Z. S. (2011). Pecking order theory versus tradeoff

theory: are service SMEs’ capital structure decisions different? Service Business,

5(4), 381-409.

Bennett, M. & Donnelly, R. (1993). The determinants of capital structure: some UK evidence.

British Accounting Review. 25(1), 43-59.

Bennett, Lynn (1998), Combining Social and Financial Intermediation to Reach the Poor: The

Necessity and the Danger in Kimenyi, Mwangi S., Robert C. Wieland, and .D.V.

Pischke (eds), Strategic Issues in Microfinance , Hants, England: Ahsgate

Publishing Ltd., pp.99-117.

Bradley, M., Jarrell, G. A., & Kim, E. H. (1984). On the existence of an optimal capital structure:

Theory and evidence. Journal of Finance, 39, 857– 880.

Brau, J., Hiatt, S., & Woodworth, W. (2011). Evaluating impacts of microfinance institutions

using Guatemalan data, 953-974.

Brounen, D., Jong, de, A. & Koedijk, K. (2006). Capital structure policies in Europe: Survey

evidence. Journal of Banking & Finance, 30(5), 1409-1442.

Chen, J. J. (2004). Determinants of capital structure of Chinese listed companies. Journal of

Business Research. 57(12), 13411351

Deesomsak, R., Paudyal, K. & Pescetto, G. (2004). The determinants of capital structure:

evidence from the Asia Pacific region. Journal of Multinational Financial

Management, 14(4), 387-405.

Degryse, H., de Goeij, P. & Kappert, P. (2012). The impact of firm and industry

characteristics on small firms’ capital structure. Small Business Economics, 38(4),

431447.

Elliehausen, Gregory. The Cost of Bank Regulation: A Review of the Evidence. Staff Study

171. Washington, DC Board of Governors of the Federal Reserve System, 1998.

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Elliehausen, Gregory, and Robert D. Kurtz. (1988) "Scale Economies in Compliance Costs for

Federal Consumer Credit Regulations." Journal of Financial Services Research I,

p,147-160.

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Appendix 1

All attachment’s other than the main work should be placed at the appendix and if

they are of different categories, number them Apendix 1, 2 etc but on different

pages. The following are supposed to go to appendix

i. Questionnaire(s)

ii. Tables and charts that don’t form part of analysis

iii. Company history and details if any

steps involved in writing a research report a....

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