Research methodology in-depth source

3.1 Introduction to Methodology

The essence of the methodology is to get in-depth analysis with the help primary and secondary source of data. There are various types of methods to collect specific type of data for the research work. It plays very crucial role in every research work. In simple terms one can say methodology is influenced by research question. (Miles and Huberman, 1994)

The following chapter will attempt to justify the method that will be adopted to carry out the research. The two main categories of research approach namely; Qualitative and Quantitative methods will be discussed. Subsequently, an explanation of the appropriateness of the research method applied will be justified. Furthermore, the data collection and recruitment of participants will also be given an explanation for, in the present study.

3.2 Qualitative Research and Quantitative Research

Research is a systematic investigation to find answers to a given problem (Burns, 2000). Qualitative research and quantitative research are basically the two main approaches to gather information for a study. Hence, it is vital to bring in a clear distinction between the two methods.

According to Burns (2000), qualitative methods attempt to seize and understand individual definitions, descriptions and meanings of events, whereas, quantitative methods count and measure occurrences. Only qualitative methods, such as participant observation and unstructured interviewing, give a clear understanding to individual meaning in the context of ongoing life. The qualitative researcher is least involved with objective truth, but rather with the truth as the informant perceives it (Burns, 2000).

Qualitative research is a multi-method research that applies an interpretive, naturalistic approach to its subject matter (Denzin & Lincoln, 1994).Qualitative research is mainly suited where the explanation and understanding of behaviour of activities is concerned more than specific measurements (Carson et al, 2001). Building on the idea of Rossman and Rallis (1998) Creswell (2003) proposed several features of qualitative research that can be discussed. Firstly, qualitative research takes place in a natural setting, which allows the researcher to be completely involved in actual experiences of the participants.

Secondly, the methods of collecting data involve active participation by the respondents; moreover, qualitative researchers seek to build a rapport and credibility with the individuals in the study. Thirdly, this type of research is emergent rather than being tightly prefigured, that is, questions are flexible in nature and depend on what is to be asked and whom it should be asked (Creswell 2003).

McDaniel, Jr and Gates (2002) recognize numerous reasons for qualitative research gaining popularity. Firstly, qualitative research is generally more economical than quantitative research. Secondly, qualitative researchers acquire first-hand experiences with flesh-and-blood consumers, and witness consumers' reactions to concepts and hear them at length, in their own language, hence, there is no better way to understand in-depth motivations and feelings of consumers. Thirdly, they determine that qualitative research can increase the efficiency of quantitative research (McDaniel, Jr and Gates (2002).

The problem of sufficient validity and reliability is a major criticism identified by the quantitative researchers on qualitative methods (Burns 2000). According to (Bryman, 1994) quantitative researchers argue that qualitative research is unstructured and frequently relies upon the researcher's ingenuity and so there is barely any standard procedure to be followed and the researcher himself is the main instrument for collecting the data. Another limitation of qualitative research is the time factor for data collection, analysis and interpretation because it is crucial for the researcher to spend sufficient time in the research setting so as to examine, holistically and comprehensively, the interactions, reactions and activities of subjects(Burns 2000).

Last but not the least sampling a small research group can witness problems too. This creates suspicion and hostility owing to the dependence on small samples which is believed to vender it incapable of generalising conclusions (Hamel, Dutour et Fortin, 1993). According to Burns (2000) the main strength of quantitative research lies in precision and control. Control is achieved because of sampling and design; and precision through quantitative and reliable measurements. Besides, hypothesis are tested through a deductive approach with the help of quantitative data which allows statistical analysis, this method provides answers that have definite basis than the lay person's common sense or opinion(Burns, 2000).

Problems are faced by quantitative researchers since human beings are far more complex than the inactive matter studied in physical sciences, it cannot be applied to measure attitude, psychological characteristics, emotions, behaviours and motivations, and the results have no bearing on real life (Burns 2000). Burns (2000) also states that it leads to the assumption of facts being same and true for all people all the time, which often produces trivial findings of insignificant consequence due to the restriction on and the controlling of variables.

3.3Data Collection

Data has been collected from both the sources primary sources as well as secondary sources. Both primary as well as secondary data plays a very important role in the research study.

3.3.1 Secondary Data

Secondary data is the data which is not a new original data collected but where the research project draws existing sources alone. (Clark, Riley, Wilkie and Wood, 2003). Secondary data is the data which is available to the researcher through various sources such as Books, Journals, News Paper articles, Magazines (Financial Magazines), Web-sites. Data from all this sources has been used by the researcher to understand and examine the present scenario of mergers and acquisitions in general and to find out various motives behind mergers and acquisitions with special reference to Indian banking sector.

3.3.2 Primary Data

Primary research is generally refers to research which involves the collection of original data using an accepted research methodology (Clark, Riley, Wilkie and Wood, 2003).

In simple terms, Primary data is the first hand data. To achieve main objective of the research study, primary has been collected. Various methods are available for collection of the primary data like Interview, Survey, and Observations. Selection of the most suitable and reliable method for the primary data collection is important. To obtain the data relating to mergers in Indian Banking sector and their motives, researcher decided to conduct a survey through questionnaire as it best serves the purpose of the research.

3.4 Data gathering methods

As already mentioned there are various methods of collecting primary data. Keeping in view the main objective of the researcher data has been gathered through Survey method and case study method. Brief note on survey method has been given below.

3.4.1 Survey

Survey research is one of the mostpowerfultechniquesin the methodology. Asurveycan be anythingfrom a paper, note-book or pencil feedbackform to anintensiveone-on-one in-depth interview.Thesignificantofthe surveyisinformationcan be gathered throughthe mailor e-mail.

Surveys are methods of collecting the data, where information is gathered through oral or written questioning. Survey may also include self completed questionnaires administered by post, e-mail or in person as well as structured interviews carried out in person over the telephone.

In our research study, survey has been conducted through questionnaire.

Table2 : - Description of survey

Bank Name	Respondent	Position	Survey
Citi Group	Mr Deepak Choudry	Vice President (Strategic Financial Management department)	E-MAIL
IDBI	Mr Jadhav	Assistant Manager	E-MAIL
HDFC	Mr Chitral Shah	Branch Manager	E-MAIL
ICICI BANK	Mr Pooja Nalawade	Assistant Manager	E-MAIL
Standard Chartered Bank	Mr Abhiroop Rishi	Cluster Head	E-MAIL
HSBC	Mr Vishal Mandavai	Branch Manager	E-MAIL

3.4.2 Questionnaire

Questionnaires are commonly used data collection method in market research. A questionnaire helps to gather the data which cannot be found elsewhere such as books, newspapers, and internet resources. The data which you get from the research questionnaire will be fresh and unique. Questionnaires are mainly used to find out people's opinion about the focused topic (Walonick, 2004).

The main advantages of using questionnaire are:

* Very cost effective compared to face to face interview.

* Easy to analyse

* Familiar to most people

* Less intrusive than telephone or face to face surveys.

* Can cover a large number of people.