In: Finance
Discuss the background of theoretical framework and conceptual framework and its implications in research
Theoretical and Conceptual framework make research more meaningful, generalizable and provide the research proper shape. Theoretical framework explain relationship between things in general phenomenon. Means that it provides the broader set of ideas to conduct research. On the other hand, conceptual framework provides the direction in which the research has to be conducted. The other name for conceptual framework is research paradigm. These are narrow ideas of research.
The theoretical framework provides the structure to the research methodologically and analytically. It provides focus of the study and provides the direction towards solving research problem. It assists researchers to design a plan for data analysis and frame suitable research design. The conceptual framework on the other hand, assists researchers in constructing his/her view on the research problem to be investigated. It also helps researchers to ground their assumptions, agreements or disagreements towards a particular phenomenon. The researchers can modify the existing frameworks to suit the nature of their research. It is a framework of researchers own research inquiry used to explain the relationship between his/her variables in the study.