This may cover a variety of approaches, but will draw primarily on existing literature, rather than new empirical data. A discursive study could examine a particular issue, perhaps from an alternative perspective (eg feminist). Alternatively, it might put forward a particular argument or examine a methodological issue.
·Davies, P. (1999) ‘What is Evidence-Based Education?’ British Journal of Educational Studies, 47 (2), 108-121. [A discussion of the meaning of ‘evidence- based education’ and its relevance to research and policy]
Understood more as a broad approach to examining a research problem than a methodological design, philosophical analysis and argumentation is intended to challenge deeply embedded, often intractable, assumptions underpinning an area of study. This approach uses the tools of argumentation derived from philosophical traditions, concepts, models, and theories to critically explore and challenge, for example, the relevance of logic and evidence in academic debates, to analyze arguments about fundamental issues, or to discuss the root of existing discourse about a research problem. These overarching tools of analysis can be framed in three ways:
·Ontology -- the study that describes the nature of reality; for example, what is real and what is not, what is fundamental and what is derivative?
·Epistemology -- the study that explores the nature of knowledge; for example, on what does knowledge and understanding depend upon and how can we be certain of what we know?
·Axiology -- the study of values; for example, what values does an individual or group hold and why? How are values related to interest, desire, will, experience, and means-to-end? And, what is the difference between a matter of fact and a matter of value?
What philosophical analysis studies tell you
1. Can provide a basis for applying ethical decision-making to practice.
2. Functions as a means of gaining greater self-understanding and self- knowledge about the purposes of research.
3. Brings clarity to general guiding practices and principles of an individual or group.
4. Philosophy informs methodology.
5. Refine concepts and theories that are invoked in relatively unreflective modes of thought and discourse.
6. Beyond methodology, philosophy also informs critical thinking about epistemology and the structure of reality (metaphysics).
7. Offers clarity and definition to the practical and theoretical uses of terms, concepts, and ideas.
Sequential research is that which is carried out in a deliberate, staged approach [i.e. serially] where one stage will be completed, followed by another, then another, and so on, with the aim that each stage will build upon the previous one until enough data is gathered over an interval of time to test your hypothesis. The sample size is not predetermined. After each sample is analyzed, the researcher can accept the null hypothesis, accept the alternative hypothesis, or select another pool of subjects and conduct the study once again. This means the researcher can obtain a limitless number of subjects before finally making a decision whether to accept the null or alternative hypothesis. Using a quantitative framework, a sequential study generally utilizes sampling techniques to gather data and applying statistical methods to analyze the data. Using a qualitative framework, sequential studies generally utilize samples of individuals or groups of individuals [cohorts] and use qualitative methods, such as interviews or observations, to gather information from each sample.
There are a lot more design types like a Quasi experimental research design, where the research design approximates the experimental design but does not have a control group. There is more error possible in the results. There is also a diagnostic research design governed by Bayesian principles which is probabilistic, multivariable and sequential in nature.
Most research designs are meant to meet the demands and needs of the objective that a researcher wants to assess. Most of the designs sometimes do overlap in their nature. The classification of designs is just to understand the nuances of designing a proper protocol and method. A design can be flexible in terms of the classification if it does not prejudice the outcome for assessing the objective. Therefore an efficient and appropriate design must be prepared before stetting research operations. The design helps the researcher to organize his ideas in a form, which can be used and reproduced as per requirement.
Theme 14. The system of finance of MNCs
1. International cash management in a multinational firm
2. Nature of international capital budgeting decision
3. Capital structure of MNC versus domestic firm
4. Basic concepts of Taxation in MNC
1. International cash management in a multinational firm
Cash management is an important aspect of working capital management and principles of domestic and international cash management are the same. The basic difference between the two is, international cash management is wider in scope and is more complicated because it has to consider the principles and practices of other countries. The cash management is mainly concerned with the cash balances, including marketable securities, are held partly to allow normal day-to-day cash disbursements and partly to protect against un-anticipated variations from budgeted cash flows. These two motives are called the transaction motive and precautionary motive. Cash disbursement for operations is replenished from two sources:
• Internal working capital turnover
• Short-term borrowings.
The efficient cash management is mainly concerned with to reduce cash tied up unnecessarily in the system, without diminishing profit or increasing risk so as to increase the rate of return on capital employed. The main objectives of cash management are:
(1) How to manage and control the cash resources of the company as quickly and efficiently as possible.
(2) To achieve the optimum and conservation of cash.
The first objective of international cash management can be achieved by improving the cash collections and disbursements with the help of accurate and timely forecast of the cash flow. The second objective of international cash management can be achieved by minimising the required level of cash balances and increasing the risk adjusted return on capital employed.
Both the objectives mentioned above conflict each other because minimising transaction costs of currency convers would require that cash balances be kept in the currency in which they have been received which conflicts with both the currency and political exposure criteria. The key to developing an optimum system is centralised of cash management.
Techniques to optimise cash flow
Accelerating collection and decelerating disbursements is a key element of international cash management. Material potential benefits exists because long delays are often encountered in collecting receivables, and in transferring funds among affiliates and corporate headquarters. In international cash management, with the help of following ways, the cash inflows are being optimised:
• Accelerating cash inflows and delaying cash outflows
• Managing blocked funds
• Leading and lagging strategy
• Using netting to reduce overall transaction costs.
• Minimising the tax on cash flow through international transfer pricing.
Accelerating cash inflows
Accelerating cash inflow is one of the main objectives of international cash management. Early recovery of cash assures that cash is available with the firm for making payments or investment. To accelerate the cash inflows, the companies also establishes lock boxes around the world which are numbered by post office department and customers are instructed to put cheques of payment in these boxes. This system helps in reducing the time involved in receiving the payment. Another method of accelerating cash inflows is the preauthorised payment which allows a company to charge from a customer’s bank account up to a specific limit. For accelerating cash inflows, the use of telex on cable transfers is often suggested for reducing the mailing delay. In this context, the society for world-wide Inter-bank Financial Telecommunications (SWIFT) has brought into its fold around 1000 banks among which funds are transferred electronically with case. There are some multinational banks that provide ‘same-day-value’ facilities. In this facility, the amount deposited in any branch of the bank in any country is credited to the firm’s account on the same day.
Delaying cash outflows means postponing the cash disbursements without effecting the goodwill of the firm.