Research Dissertation

ECTS: This course carries 30 ECTS credits.  

Module description

The objective of the project is to allow students to demonstrate and apply the techniques and knowledge acquired from the taught courses to a problem of real-world academic or managerial concern. To complete this module, which is worth 30 ECTS credits and is compulsory, students should:

· demonstrate that they have a good knowledge of the relevant literature on their chosen topic

· identify an interesting question associated with that topic and analyse this question using the techniques and tools learned, showing that they have a good grasp of the applicability of these techniques (statistical, numerical or theoretical);

· present the results of their analysis in a clear and convincing manner, within the word limit of no more than 12,000 words;

· show their ability to communicate their work to a broad audience via the creation of an executive summary which should be 1500 words or less and which should be in the form. of an academic article or managerial report.

relation to degree

The research dissertation and preparations leading up to its completion are designed to enable students to undertake individual research and provide them with an opportunity to specialise in contemporary topics in finance. Students will be able to integrate and apply ideas, theories and techniques learned from the MSc Programme taught modules. In addition, students are expected to integrate and synthesise learning gained outside the formal taught courses, such as previous learning, professional experience, and personal knowledge.

Learning and teaching approach

There will be a series of three one-hour seminars (dates and times will be communicated on Blackboard) on specific topics essential in supporting your data search, topic selection, literature reviews and completing your dissertations. Students are required to attend seminars and actively participate in Q&A sessions.

learning outcomes

Having successfully completed this module, the student should be able to:

1. Summarise and demonstrate an understanding of the relevant issues in the literature surrounding the research question. A chronological summary of the surrounding literature is not sufficient.

2. Explain the theory surrounding the research question.

3. Explain the methodology being applied and demonstrate that the methodology is appropriate to the question.

4. Present a coherent conclusion that follows correctly from the analysis.

5. Present arguments in a coherent manner and write in a clear style.

6. Present research in a logical structure, i.e. does not omit relevant material or include irrelevant material.

Textbook, readings & Lectures structure

Suggested readings:

Relevant to All Research Dissertation Types

· Babbie, E. (2010). The Practice of Social Research, 12th Edition, Wadsworth/Cengage Learning, Belmont, CA

· Beins, B.C., and McCarthy, M.A. (2012). Research Methods and Statistics, Boston, Pearson

· Dillman, D, A., Smyth, J.D. and Chritian, L.M. (2008). Internet, Mail and Mixed-Mode Surveys: The Tailored Design Method, 3rd Edition. London, England: Wiley.  

· De Fusco, R., McLeavey, D., Pinto, J. and Runkle D. (2007). Quantitative Investment Analysis, 2^nd Edition, CFA Institute Investment Series, John Wiley and Sons, New York #

· Flick, U. (2013). The SAGE Handbook of Qualitative Data Analysis, Sage Publications, London

· Hart, C. (1998). Doing a Literature Review: Releasing the Social Science Research Imagination, London: Sage Publications Ltd.

· Marschan-Piekkari, R. and Welch, C. (2004) Handbook of Qualitative Research Methods for International Business, Edward Elgar, Cheltenham

· McMillan, K (2011). How to Write Dissertations and Project Reports, Prentice Hall, Harlow

· Pallant, J. SPSS (2012). Survival Manual, 5th Edition, Buckingham, Philadelphia: Open University Press.  

· Pears, R. and Shields, G. (2010). Cite Them Right: The Essential Referencing Guide, 8th Edition. Houndmills, Basingstoke, Hampshire England: Palgrave Macmillan.

· Saunders, M., Lewis, P. and Thornhill, A. (2012). Research Methods for Business Students, 6th Edition, Harlow, England, UK, Financial Times/Prentice Hall

Assessment

What is acceptable?

The dissertation must pose and attempt to answer a specific research question. This typically takes the form. of posing and testing a hypothesis. Projects typically, but not exclusively, involve a discussion of recent literature in the chosen area around the research question, the collection and description of data, a description and application of a testing methodology, the presentation, discussion and interpretation of results and a conclusion. Other formats such as surveys and case studies are also acceptable.  The replication of (not plagiarism of) other studies applied in a different geographic area, asset class etc. and the updating of previous studies are also acceptable. Analysis of a problem facing a company or industry which allows for the demonstration of the achievement of the learning objectives is also permitted.

Sometimes a combination of forms may be appropriate. One type of research is not more valuable or ‘better’ than the other; choosing the research style. depends on the research question, your interests and skills.  

Note, the following are not acceptable types of MSc projects:

· Pure literature surveys

· Mere evidence that the candidate has learned a new subject

· A synthesis of other writing or a piece of journalism

· A mere compendium of facts and statistics

· Descriptive essays

· Projects unrelated to the relevant academic discipline and literature.

Purely institutional topics are not permitted; by purely institutional we mean particular solutions to particular problems of relevance to a particular firm at a particular time. Topics should be chosen to ensure that they will be amenable to a broad interest. If a student is working with a firm, they must ensure that the material they submit as part of the project is suitable for public dissemination via the library or other means and is not solely of relevance to that firm at that time but rather that it addresses a more general issue.

On data, it is important not to be too ambitious and to spend just enough time to collect those data which are required for the task in hand. Spend more time on analysis than on data collection and manipulation. An exception to this may be where the creation of a particular dataset, index, or measure is itself the topic chosen. It is important that you time work realistically. Things always take longer than you think. Schedule and stick to the schedule.

Schedule

Your draft proposal for the finance dissertation is due in by 5pm on Friday 24^th January 2025. This will not be graded but provides an opportunity for you to suggest a supervisor and a topic that you are interested in and to help allocate supervisors. However, this will form. the basis of your first meeting with your supervisor and will be the grounds for a supervisor to agree to take you on, so they should be of as good quality as possible. You will not be tied to this proposal, upon meeting your supervisor you may make substantial changes to the topic before you submit your final proposal that will be graded at the end of March. 

The Director will allocate a supervisor to guide your research by the end of February.  The choice of a supervisor depends on the availability and interests of faculty members. Students should establish contact with their allocated supervisors at an early stage, to discuss supervision arrangements.

Schedule of meetings with your supervisor (minimum of 4 meetings):

After submission of the draft research proposal by 5pm 24^th January 2025, formal supervision starts in February, and runs until July.   Some supervisors may choose to use group supervision rather than individual supervision.  This increases peer learning opportunities, and has been found to be very beneficial for student learning. You should contact your supervisor to arrange these meetings.  Detailed feedback will be provided once on your research proposal and each chapter of your dissertation.

· 1^st meeting in February: draft research proposals submitted end January to be discussed, guidance provided by supervisor. 

· 2^nd meeting in March: refine specific research questions based on feedback received in 1^st meeting, research questions should be informed by the literature review.  Supervisor to give feedback on draft of dissertation proposal.      

Dissertation Proposal worth 20% to be submitted by 5pm Friday 28^th March 2025.

The proposal should be between 2000-2500 words, with a maximum of 3000 words allowed, providing a broad outline of your research question and how you propose to address it. This proposal should state the basic idea or question to be addressed in the project, what data and computing facilities will be required, whether or not these are available within the school and university, and if not available how they will be sourced, and also include an indicative timetable. The proposal should include a brief overview of the relevant literature, referenced in the author (date) format.

Research Proposal Marking Guidelines

 (Part I)       Aims and Objectives:           

· Research aim (a statement of what the research sets out to achieve)

· Research objective(s) (the more specific research aims)

· Possible research questions and/or hypotheses (each research question could have one or more hypotheses. However, there should not be more hypotheses than research questions).

 (Part II)      Rationale and Contribution

· Description of Topic

· A rationale for the choice of Topic

· Literature Review (Primary source: Original research from journals, articles or conferences, original materials such as historical documents; Secondary source: Evaluations, reviews or syntheses of original work; Tertiary source: Broadly scoped material put together usually from secondary sources to provide an overview, e.g. a textbook)

· The contribution of the research to financial/management/public policy practice

 (Part III)     Methodology

· Research methodology

· Primary (interviews, questionnaires) or secondary data (publicly available databases, such as Datastream, Bloomberg, Reuters, Worldscope) collection

· Proposed subject population and sample

· Data analysis (qualitative, multiple regression, cross-sectional/panel data etc) techniques

· Resources, confidentiality, ethics issues etc.

· Plan for Project Completion

(Part IV)     References

The following marking scheme for the Research Proposal will be applied by supervisors:

· 25% is allocated for Aims and Objectives

· 30% is allocated for Rationale and Contribution

· 25% is allocated for a description of the Methodology to be used

· 10% is allocated for the Proposal Structure (logical, well-argued case, good references)  

· 10% is allocated for Style. (spelling, grammar, clarity, conciseness)

Supervisors will mark these proposals on a scale 1-100, which will be converted to 20% of the final dissertation mark (out of 30 ECTS allocated for the dissertation).

Between April and July you should complete the remainder of the work, the Dissertation. Note that many supervisors are away in July, so communication via email alone may be required in the final weeks.

· 3^rd meeting early April: supervisor to provide feedback on final research proposal submitted at the end of March and provide guidance for carrying out the proposed research and writing the dissertation. 

· 4^th meeting sometime in May: report on progress with dissertation, receive feedback on any parts of dissertation submitted to supervisor.

A first full draft of all sections of your thesis should ideally be submitted at the latest by the end of June to give time for feedback and incorporation of feedback by student before submission deadline on Friday 11^th July 2025. 

SUBMISSION

The Dissertation has a limit of 12,000 words (not including references), and must be submitted by 5pm on the 11^th July 2025. In addition to the main document, an executive summary not exceeding 1,500 words must also be included.

Students must keep a diary of their meetings or substantive discussions with the supervisor. This diary should not be extensive, but should record where and when the meeting took place, the main issues agreed for work, and action items arising.

Submission of all parts of the dissertation, the draft proposal in January, the final proposal in March and the final thesis in July will be via blackboard on the Finance Dissertation page.

The penalty for late submission is as follows; 10% for each day that the submission is late. An extension on medical grounds will only be granted after discussion with the Programme Director. Only medical certificates for the four week period prior to submission date will be considered and an extension on medical grounds will only be given if there have been valid attempts to meet the deadline as supported by the dissertation supervisor and diary of meetings.

EXAMINATION

The Course Director, in collaboration with the Director of Postgraduate Teaching and Learning, will assign a reviewer. This person may or may not be the supervisor. The project will be marked on the basis of the following schedule:

20% for the Research Proposal submitted on Friday 28^th March 2025.

80% for the finalised project submitted on Friday 11^th July 2025. The following components of the final thesis will be evaluated:

· 10% is allocated for presentation and professionalism of the documents

· 10% is allocated for process quality via incorporation of supervisor feedback

· 10% is allocated for industrial, managerial, academic or social relevance of the work

· 70% is allocated for the intellectual quality and rigour of the material