Research Methodology CopFin Assignment

3.
0 Research Methodology
Goundar, S. (2019) states that research methodology is a collective term for the structured
process of conducting research. Research methodologies are used in various types of research
and the term is usually considered to include research design, data gathering and data
analysis. Research methodology seeks to instruct: Why a research study has been undertaken,
how the research problem has been defined, in what way and why the hypothesis has been
formulated, what data have been collected and what particular method has been adopted, why
particular technique of analysing data has been used and a host of similar other questions are
usually answered when we talk of research methodology concerning a research problem or
study.
The study adopted both research methodologies that is quantitative and qualitative methods.
Ideally, comprehensive research should try to incorporate both qualitative and quantitative
methodologies but this is not always possible, usually due to time and financial constraints
(Goundar, S.2019). The research employs secondary data in carrying out the study and this
was obtained from the audited annual reports, namely financial statements, and other records
of ZECO Holdings published by the Zimbabwe Stock Exchange for the year 2020.Qualitative
research uses non-measurable sources of data and relies mostly on observation techniques to
gain insights. Quantitative research presents data in a numerical format, enabling researchers
to evaluate and understand this data through statistical analysis.
The following research model was adopted to gauge the financial performance and service
delivery in relation to the pandemic, Covid -19.
FP + SD = bo + b1PC
In the above model FP represents the financial performance of ZECO Holding Ltd, SD
denoting service delivery during the year 2022, PC and dummy variables represent the
pandemic impact degree.
3.1 Research design

According to Pavithra, J. Thooyamani, K. P., and Dkhar, K. (2017) research design is a
framework for the research study which guides the collection and analysis of the data. The
research design makes a statement of what is to be done to accomplish the research objectives
and how it is to be performed. The scholars used analytical research design. Analytical
research design involves classifying the relations of calculated information to the research
problem in hand. The scholars would make use of different tools for analysing data and
starting association between the information gathered and the research problem. The
scholars’ used facts and /or information already available and analysed these to make a
critical evaluation of the material (Ramachandran, R., Kandhakumar, P. and Kannadas, P.
(2019). The study is based on the financial statements of ZECO Holdings.
3.2 Data collection methods
Data collection methods are divided into two categories namely primary data collection
methods and secondary data collection methods. Primary data or raw data is a type of
information that is obtained directly from the first-hand source through experiments, surveys
or observations. Primary data can be collected in a number of ways. However, the most
common techniques are self-administered surveys, interviews, field observation, and
experiments. Primary data collection is quite expensive and time consuming compared to
secondary data collection. Ramachandran, R., Kandhakumar, P. and Kannadas, P. (2019),
states that secondary data refers to the information or facts already collected such data are
collected with the objectives of understanding the past status of any variable or the data
collected and reported by some source is accessed and used for the objective of a study.
Advantages of secondary data collection methods
 Easier collection: As secondary data is readily available, it is relatively easy to collect

for further analysis.
 More credibility: If collected from reputable sources, secondary data can be trusted as
accurate and of quality.
 Less expensive: Collecting secondary data often costs a lot less than if the same data
were collected primarily.
Disadvantages of secondary data collection methods
 Differing context: Secondary data collected will not necessarily align with the market
researcher’s research questions or objectives.
 Limited availability: The amount and detail of secondary data available for a
particular research topic is varied and not dependable.
 Less control: As secondary data is originally collected externally, there is no control
over the quality of available data on a topic.
For this research, the scholars shall collect published data and annual reports.
The scholars shall use ratio analysis, trend analysis and comparative statements. Financial
statements help to analyse profit, solvency, liquidity and efficiency and this analysis will give
the exact picture of the company. Ratio analysis is a technique widely used for evaluating the
financial condition and performance of a firm (Sultan, A.S. 2014). The variables in this study
comprise ratios based on financial statements; the ratios are computed by assuming that the
objective of a given firm is to maximize the value of the owner’s investment in the firm. In
the process of maximizing the wealth of owners a firm should generate revenues that exceed
expenses.
REFERENCE LIST
Sultan, A. S. (2014) Financial Statements Analysis - Measurement of Performance and

Profitability: Applied Study of Baghdad Soft-Drink Industry, Research Journal of Finance
and Accounting, Vol.5, No.4
Research Journal of Finance and Accounting www.iiste.org ISSN 2222-1697 (Paper) ISSN
2222-2847 (Online) Vol.5, No.4, 2014
Pavithra, J. ,Thooyamani, K. P., and Dkhar, K. (2017) A study on the analysis of financial
performance with reference to Jeppiaar Cements Pvt Ltd, International Journal of Pure and
Applied Mathematics, Volume 116 No. 14
Ramachandran, R., Kandhakumar, P. and Kannadas, P. (2019), A study on financial

performance analysis of alangulam primary agriculture co-operative credit society,
Alangulam, Tirunelveli district, Journal of Interdisciplinary Cycle Research, Volume XI,
Issue XII,
https://conjointly.com/blog/data-collection-quantitative-research/ accessed on 13 June 2022

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3.

3.1 Research design

3.2 Data collection methods

Advantages of secondary data collection methods

 Easier collection: As secondary data is readily available, it is relatively easy to collect

Disadvantages of secondary data collection methods

Sultan, A. S. (2014) Financial Statements Analysis - Measurement of Performance and

Ramachandran, R., Kandhakumar, P. and Kannadas, P. (2019), A study on financial

https://conjointly.com/blog/data-collection-quantitative-research/ accessed on 13 June 2022

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