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The Role of Grounded Theory in Developing Economic Theory
Abstract
Grounded theory is examined as a means of undertaking economics research that aims at theoretical development and generalization rather than testing established theories. Grounded theory encompasses a set of procedures for undertaking and analysing case studies--qualitative and quantitative--in a systematic and comparative manner. These procedures are set out, and illustrations of theory developed in close connection with business decision-making and industry competition are drawn from P.W.S. Andrews' post-Marshallian industry studies, Cyert and March's Behavioral Theory of the Firm , and Sutton's analysis of market structures. Conclusions are drawn out regarding the nature of the relationship between testing established theory and making novel knowledge claims, the nature of knowledge held by those involved in economic phenomena, the nature of contexts of discovery and verification, and processes involved in making inferences.
... Accordingly, the authors consciously endeavored to recognize appropriate instances from the collected data (Siggelkow, 2007). Undeniably, the data stemming from interviews with key informants of the selected cases provided real-world indications; yet contents deemed fundamental to developing a final framework had to be revised and integrated time-to-time, as the analysis moved on from empirical findings and conceptual maturity, in line with the so-called reflective spiral approach (Finch, 2002). ...
... The use of a research log also allowed us to identify the common preliminary points stressed by all key informants. As fundamental information about the use of digital platforms in supply chain management were collected, these were related to existing theoretical evidence in an attempt to better conceptualize the phenomena (Finch, 2002). ...
... The results were pooled by the authors. The diverse highlights individually identified by the authors were compared, consistently with Finch's (2002) protocol. ...
Purpose
This study seeks to explore the importance of digital platforms in restoring global supply chains interrupted by the coronavirus pandemic. Specifically, the research focuses on internally developed digital platforms and their potential to ensure supply chain continuity between developed and emerging markets.
Design/methodology/approach
Multiple comparative case studies have been selected for the research methodology. Eight cases concerning digital platform implementation for global SC management – four from developed countries and four from emerging markets – have been selected. The four pairs of cases represent four global supply chain mechanisms.
Findings
The results revealed that the use of internally developed digital platforms serves as a quick solution for immediate problems caused by ripple effects in global supply chain and negative environmental conditions. Digital platforms could therefore facilitate reciprocal monitoring and information exchanges between SC partners in different countries.
Originality/value
The digital platform research stream is in its early stages. Research thus far has mostly focused on externally developed digital platforms managed by an orchestrator. The platforms' usefulness in the dialogue between developed and emerging markets requires further exploration.
... Our qualitative research was supported by theoretical concepts related to the observed phenomena, and we consciously attempted to identify relevant examples within our data (Siggelkow, 2007). The field data provided empirical evidence, and elements of the evolving framework were revised and added regularly as the analysis moved iteratively between empirical findings and conceptual developments in a 'reflective spiral' (Anderson et al., 2010;Finch, 2002). This interaction of emergent theory and data collection generated our interpretative framework for the organizational design of hybrid organizations, which is presented in the next paragraph. ...
... The research diaries were reviewed and constantly updated to clarify emergent themes until only a few new insights occurred. As exemplar phenomena were collected, we related them to the theoretical frame, to re-examine them in the light of these findings (Finch, 2002). Formal interviews were transcribed, read, and re-read, with notes on emergent themes contemporaneously entered into our research diaries (Anderson et al., 2010). ...
... The results of this second phase were shared among the group, and the diverse patterns obtained in isolation have been compared. To this purpose, we adopted the protocol described by Finch (2002) and applied to the entrepreneurial and management field by Anderson et al. (2010). As already generally presented in the qualitative protocol description, during the qualitative coding, we moved back and forth from the theory and the data; this operation was repeated as many times as necessary to frame all the topics in the mainstream literature. ...
Hybrid organizations’ success should effectively fulfill both beneficiaries’ and customers’ needs, requirements, and expectations, being embedded in the conflicting—and often incompatible—institutional logics of social mission and commercial activities. Despite the increasing attention to such a phenomenon in the business research literature, still little is known regarding how hybrid organizational structures may facilitate or hinder the co-existence of such conflicting institutional logics. Relying on an inductive comparative case study realized on 9 socially entrepreneurial NPOs—which represent significant examples of socially imprinted organizations involved in commercial activities (hybrid)—operating in the Italian socio-healthcare sector, two main concerns have arisen as particularly influenced by organizational decisions, namely (a) effectively combining multiple identities within the organization and (b) gaining legitimacy from stakeholders. Results show that a coherent identity for a hybrid organization seems to be facilitated by an integrated structure, i.e., social programs and commercial activities run in a unique organization. On the contrary, a compartmentalized organizational structure creates two separate legal entities of a social or commercial nature only and is more crucial in gaining external legitimacy. Finally, some hybrids seem to mimic both features of these organizational structures, tackling both necessities. Thus, this study provides comparisons and practice-oriented implications to implement such organizational changes and explores the complex universe of hybrid organizational design by simultaneously comparing different organizational structures.
... Broadly speaking, this methodology establishes guidelines for a systematic comparison of qualitative data, and the inductive development of theories (Glaser and Strauss, 2017). Although grounded theory is not widespread in economic research, Finch (2002) and Lee (2005) advocate for broader use of this methodology in the field. According to Finch (2002, p. 214), "Grounded theory procedures provide a basis for economists to make effective use of case studies, and of qualitative and quantitative data in general, by connecting case studies together in order to generalize, and in so doing verify, emerging novel contributions to knowledge". ...
... The sampling strategy was snowballing (Creswell and Poth, 2018): from initial contacts with academics and the business community I reached the abovementioned interviewees. The sampling size was determined based on the GT principle of "theoretical saturation", which is when the researcher carries on with subsequent interviews until the point that they no longer contribute to the model's development (Finch, 2002). All the interviews were semi-structured with open-ended questions. ...
The scholarly debate on currency internationalization focuses on country characteristics and policies as the main determinants in currency competition. However, this literature has neglected the fact that, given the intertwined nature of the international monetary system, other countries' actions and the functioning logic of international finance can also impact a currency's international status. This article shows that RMB usage has been boosted not only by Chinese statecraft but also by economic actors' recent difficulties in using the dollar. The American financial sanctions against Chinese trade partners, the cyclical instability of international finance, as well as peripheral countries' low inflows of dollars have encouraged firms and banks to use the renminbi as an alternative to the dollar. In addition to contributing to a broader understanding of the drivers of currency internationalization, this article proposes a model that explains the mechanisms that push firms and banks away from the incumbent international currency. I posit that changes in domestic and international conditions influence currency transaction costs, thereby propelling economic actors to increase their use of currencies with relatively lower transaction costs. Interviews with Chinese senior officials from the PBOC and the Ministry of Commerce, manufacturing companies, and bank staff are the main primary sources for this article. I triangulate this information with news reports and speeches both in Chinese and English.
... Fourth, this tactic helped to explore substantial views to address SER themes that were used to answer the research questions (Glaser, 2010). Fifth, this tactic provided reflective lenses to conceptualise the three sources of empirical data to explain how SER practices have been developed in these banks (Finch, 2002). The SER themes were examined from multiple interviewees' perspectives and methodological perspectives (content analysis and semi-structured interviews). ...
... To elucidate the perceptions and experiences of our participants (Miles et al., 2014), we ensured that our data analysis process was informedbut not constrainedby prior theoretical understandings (Finch, 2002). Data analysis was reiterative process as we moved back and forth between these data and emerging findings (Alvesson and Skoldberg, 2017). ...
Purpose
This study aims to address decision-making processes of Christian entrepreneurs living and working in rural areas. The authors draw on the institutional logics perspective and stewardship perspective to demonstrate how religion influences rationality and entrepreneurial decision-making processes in a rural context.
Design/methodology/approach
This study adopts a qualitative interpretive approach supported by ethnographic fieldwork. Qualitative and interpretative analyses are used to access deeper insights into the decision-making processes of Christian entrepreneurs in a rural environment. Data include short-term immersive events, observations and interviews as COVID-19 pandemic restrictions lifted in the region.
Findings
This study reveals that normative (religious) commitments – a sense of moral duty and action influenced by religion – and a high-religiosity context – where religion permeates diverse aspects of life – lead to behaviors that are perceived as rational and normative. In this context, the normative relationship between a market and a community logic, alongside a logic of religion, are all linked through a stewardship perspective. A broad focus on the development of community and place also safeguards business and community interests.
Research limitations/implications
Since the findings are based on one rural area and one religion, future studies should address a broader range of geographical areas and religions. In this study, uncertainty arising from COVID-19 pandemic restrictions and the resumption of business exchanges also influence the decision-making processes of the entrepreneurial participants. While the findings reflect the normative dispositions and the decision-making processes that are inherent in this context, an even broader examination of rural entrepreneurship will benefit our understanding of entrepreneurial decisions in terms of rationality and place.
Practical implications
The findings reveal that entrepreneurs who relocate to a rural, high-religiosity context should first assess how the community affiliated through a set of beliefs – expects actors to behave. Additionally, applicability to other religions requires further consideration.
Originality/value
This study answers the call to examine entrepreneurship and the underpinnings of rationality that challenge mainstream debates on entrepreneurial decision-making and religion. The findings answer this call by advancing the knowledge of the decision-making process of religious entrepreneurs. In this respect, the findings present a context where rational business behaviors, influenced by a market logic, are transformed through exchanges with a community informed by a logic of religion. A conceptual model illustrates the nature of this context and associated processes.
... Investigating projects and activities from the perspective of quality orientation Publications and reports Documents produced by TRAVEL connected to quality orientation Tracking changes in the strategies, actions, and activities since the definition of the quality orientation and during the COVID-19 pandemic Source(s): Our elaboration Table 2. Sources of data emerging from our theoretical background in order to mold specific propositions (Finch, 2002). In this way, we develop an industry-focused framework based on five of the best practices to help practitioners shape soft TQM dimensions to promote quality. ...
Purpose
The study aims to deepen existing knowledge on the specific role of soft total quality management (TQM) practices in the ferry sector. Over the last decade, TQM practices have been thoroughly restructured, allowing us to develop an appropriate framework through which the relevance of each practice to this particular sector can be explained.
Design/methodology/approach
A narrative case study has been conducted to enhance the quality orientation and soft TQM practices adopted by a medium-sized company in the ferry sector.
Findings
The study identifies five soft TQM practices that offer valuable contributions in terms of quality orientation. These are organised into a configurational and systemic approach according to a three-level framework. At the macro level, a customer-orientated approach is paramount, as this orientation clearly points out the fundamental values of TQM. Coherently, at the micro-level, employees should be trained, involved, and empowered to truly internalise and behave according to a quality orientation. At the meso-level, dedicated leadership should support these practices and foster their effectiveness across the organisational structure.
Research limitations/implications
The main limitation of this study is related to its narrative analysis. More empirically-grounded research should be used in the future to test the validity of the model.
Practical implications
TQM practices can leverage soft aspects, finding mutual integrations and offering reciprocal support if a bundle of practices is enforced and co-present across several layers of an organisational structure.
Originality/value
The model offers a configurational approach to help the ferry sector in leveraging soft TQM practices to implement TQM initiatives successfully. This is subject to external contingencies and thus requires adaptability and flexibility.
... The inductive approach accentuated layers and diverse circumstances to help understand how people relate to and claim ownership of the brand. The analysis was informed by our prior theoretical and conceptual understanding and also allowed for novel insights to emerge (Finch, 2002;Strauss and Corbin, 1990). When relevant, data and information were triangulated using other sources to provide a comprehensive picture of the branding project. ...
Purpose
This paper aims to explore the complexities of engaging with local stakeholders in destination branding. As the main creators and drivers of the destination brand, many brand authorities metaphorically “give ownership” of the brand to local stakeholders, for them to “take ownership” of it. This paper examines the inherent challenges of this process. In the Tasmanian destination branding process presented here, the Tasmanian authorities used best practices to generate a sense of ownership of the destination brand among local tourism businesses. Some players engaged, but many did not. The study shows the necessity to understand the dynamics between giving ownership of the brand and the various local tourism business stakeholders actually taking ownership.
Design/methodology/approach
This study looks at an Australian destination branding experience, namely, Tasmania’s “Go Behind the Scenery”. Primary data were gathered through 14 in-depth interviews with tourism operators, selected through a purposive sampling approach, based on their various levels of participation in the branding processes. The interviews aimed to understand how they variously engaged with the brand and processes of ownership.
Findings
This study shows that a relatively open interpretation of the brand can welcome wider engagement and generate a sense of ownership through the local businesses’ own interpretations. But there are also barriers for these stakeholders in developing an even stronger sense of ownership. They need more support in addressing their individual circumstance before the brand can align with their business.
Originality/value
This paper accentuates an ownership gap, understood as the gap between giving ownership (mechanisms to transfer ownership from brand authorities to stakeholders) and taking ownership (stakeholders assume responsibility for and manifest the brand). In identifying a gap between these two aspects of engagement, this paper initiates a more nuanced discussion on the mechanisms of stakeholder engagement in the branding process.
... GT has been widely used in various disciplines in the literature, including management (R. Jones & Noble, 2007), accounting (Gurd, 2008), psychology (Fassinger, 2005), economics (Finch, 2002), and political sciences (Becker, 2012). Also, GT has been frequently used by researchers in the field of public policy and administration (Anderson et al., 2016;Richards & Farrokhnia, 2016;Tummers & Karsten, 2012). ...
This paper seeks to facilitate the use of grounded theory (GT) methodology by novice researchers and PhD students of public policy discipline. The GT is widely used in social sciences research. This methodology has different variations, while Strauss and Corbin’s systematic approach is more pragmatic than others due to the introduction of a staged process known as axial coding. Regarding the fact that applying this method is largely dependent on the context of the research area, the main question is, what would be the elements of a systematic approach specifically customized for the public policy research domain? This paper is an analytical review of the research literature in 3 areas: variants of grounded theory approaches, soft systems models in social science, and public policy subsystem elements. This research suggests the use of 6 categories of context and discourse, content and ideas, participants, structure, policy process, and outputs and effects as a substitute for the three categories of Strauss and Corbin’s axial coding paradigm of GT.
... Fourth, this tactic helped to explore substantial views to address SER themes that were used to answer the research questions (Glaser, 2010). Fifth, this tactic provided reflective lenses to conceptualise the three sources of empirical data to explain how SER practices have been developed in these banks (Finch, 2002). The SER themes were examined from multiple interviewees' perspectives and methodological perspectives (content analysis and semi-structured interviews). ...
... Durante todo este proceso el investigador transita de manera dinámica los tres estratos ontológicos, y hace un uso sofisticado de la abstracción, la inducción y la síntesis. Esta es la diferencia central con el enfoque formalista, de sistema cerrado y enteramente deductivista de la economía neoclásica, cuyo proceso de creación teórica se sustenta en confrontar la evidencia empírica con supuestos a priori (Downward, 1999;Downward y Mearman, 2007, Finch, 2002Lee, 2002). ...
Aproximadamente a partir del último cuarto del siglo XX, la economía neoclásica se ha convertido en el paradigma dominante en la disciplina económica. Sin embargo, la economía es una disciplina en la que confluyen distintos paradigmas teóricos, cada uno de los cuales se adhiere, de manera única y particular, a ciertos compromisos ontológicos y epistemológicos. El objetivo central de este trabajo es presentar los lineamientos metodológicos y teóricos básicos de una teoría microeconómica heterodoxa como alternativa a la teoría neoclásica convencional. Lo anterior permitirá refutar la alegada universalidad de la economía neoclásica.
Two books have been particularly influential in contemporary philosophy of science: Karl R. Popper's Logic of Scientific Discovery, and Thomas S. Kuhn's Structure of Scientific Revolutions. Both agree upon the importance of revolutions in science, but differ about the role of criticism in science's revolutionary growth. This volume arose out of a symposium on Kuhn's work, with Popper in the chair, at an international colloquium held in London in 1965. The book begins with Kuhn's statement of his position followed by seven essays offering criticism and analysis, and finally by Kuhn's reply. The book will interest senior undergraduates and graduate students of the philosophy and history of science, as well as professional philosophers, philosophically inclined scientists, and some psychologists and sociologists.
This book expounds compares and contrasts various approaches to the analysis of industrial organization. In particular, it presents a number of coherent alternatives to the widely used structure-conduct-performance paradigm. The approaches are grouped under three broad headings: Dominant Schools; Rival Approaches and New Departures.
Under Dominant Schools, it considers structure/conduct performance, case study and structural modelling. In Rival Approaches it evaluates some methods which have been neglected or only partially assimilated into cotemporary literature including the Marshallian tradition, the Austrian School and workable competition. The final section, New Departures, considers contestability theory and recent developments in natural monopoly analysis in its first chapter, and in the second, on the organizational view of the firm, considers managerialism, markets and hierarchies and principal-agent analysis.