How to Write a Good PhD Thesis? Khaled Hussainey Professor of Accounting Portsmouth Business School The University of Portsmouth

Finding a new research idea Finding a new research idea is a critical stage. Why? Failure to find a new topic in a systematic manner makes a PhD student frustrated and he/she will risk running out of time to complete his/her thesis on time. Choosing a poor topic makes it difficult to get a PhD.

Criteria for new research idea The topic should be ‘new’ adding an incremental contribution to existing literature. The topic should not be just a duplication of what has been done before. You should choose a topic that interests and excites you. It should also be of interest to your supervisor(s) as well as other readers! The topic should be adequate. So, you need to check the assessment criteria used at your university. You need to be sure that you have access to literature, data and other resources to undertake the empirical part of your thesis. The topic should have theoretical and/or practical relevance.

Where to find a new research idea? - Research in top-tier journals - Research from top-tier business schools - Top-tier researchers - Top-tier conferences Newspapers: Financial times, Wall street journals TVs: CNBS, Bloomberg Twitter of professionals (e.g., Superstar financial analysts, famous investors, etc.) Youtube Blogs, professional forums, etc. Professional websites: CIMA; ACCA; ICAEW , IoD, Deloitte, PricewaterhouseCoopers, Ernst & Young, KPMG, Calpers, TIAA-CREF, Amundi, IMF, World Bank, Bank for International Settlements, World Economic Forum, NBER, IFC, ECGI (European Corporate Governance Institute), Global Corporate Governance Forum (GCGF), etc.

Where to find a new research idea? Read 1. RECENT RESEACH PAPERS IN TOP RANKED JOURNALS 2. REVIEW ARTICLES 3. RECENT WORKING PAPERS (i.e. SSRN) 4. RECENT TOP QUALITY CONFERENCE PAPERS 5. SPECIAL ISSUES (CURRENT AND FORTHCOMING) 6. RECENT PHD THESES IN TOP RANKED UNIVERSITIES Find out limitations and suggestions for future research. Write down your ideas. Explain your ideas to experienced researchers. Check data availability and other requirements for the analysis.

Where to find a new research idea? The application of an existing theory in a different setting or a different context. An investigation into whether a particular early theory still applies today. A replication study of previous research in a different setting or context - but explain your motivation(s) here. Any contemporary or emerging issue in your area of interest (i.e. financial crisis or revolution). Ask a potential supervisor or academic in your area of interest about topics they are researching and perhaps work with them on a specific project. Ask your business colleagues, your manager or someone senior in your organisation, your customers, suppliers or other stakeholders for ideas.

The structure of the PhD Thesis Title Abstract Acknowledgement Introduction [overview; research objectives; research questions; research motivations; research importance; potential contributions; key findings; the structure of the thesis]. Conceptual Framework [discuss the main concepts/themes of the paper] Theoretical framework [which theory and why?]. Literature review [critically survey prior studies; identify gaps; explain how your thesis fills at least 2/3 gaps]. Research method [context; sample selection criteria; sample period selection; research hypotheses; the justification of the research method; data collection; variables definitions and measurement; source of data…etc.]. Empirical analysis [descriptive analysis; research findings; accepting/rejecting hypotheses; answering research questions]. Discussion [the link between the findings and both theory and literature] Conclusion [summary of the key findings; implications; research limitation and suggestions for future research]. References

The title of the thesis The research title is usually read first and read the most.  It should capture the reader’s attention to the main contribution(s) of the thesis. A good research title should contain the fewest possible words needed to adequately describe the contribution(s) of the thesis.

Abstract Write briefly and clearly. It mainly covers the following points: Purpose: What are the aim/objectives of writing the thesis? Design/methodology/approach: How are the objectives achieved? Include the main method(s) used for the research. What is the approach to the topic and what is the theoretical or subject scope of the thesis? Findings: What was found in the course of the work? This will refer to analysis, discussion, or results. What is the original contribution of the thesis What is new in the thesis? State the value of the thesis and to whom.

A good introduction normally includes: 1. Research background 2 A good introduction normally includes: 1. Research background 2. Research aim/objectives 3. Research problem 4. Research importance 5. Research motivations 6. Research contributions 7. Key findings 8. Thesis structure

Research background Background information identifies and describes the history and nature of a well-defined research problem with reference to the existing literature. The background information should indicate the root of the problem being studied, its scope, and the extent to which previous studies have successfully investigated the problem, noting, in particular, where gaps exist that your thesis attempts to address. Introductory background information differs from a literature review in that it places the research problem in proper context rather than provide a thorough examining related literature. Source: http://libguides.usc.edu/

Aim/objectives The objectives, and there are usually more than one, are the specific steps you will take to achieve your aim. Example: The aim of the thesis is …. To achieve the above aim, this thesis has four main objectives as follows: - to introduce a new theory or new variables that explain(s) the relation between Y and X. - to examine the relation between Y and X. - to examine the moderating effect of …. on the relation between Y and X. - to examine the sensitivity of the Y-X relation to the statistical models used.

Research problem A research problem is a definite or clear expression [statement] about an area of concern, a condition to be improved upon, a difficulty to be eliminated, or a troubling question that exists in scholarly literature, in theory, or within existing practice that points to a need for meaningful understanding and deliberate  Source: http://libguides.usc.edu/writingguide/introduction/researchproblem

Why do you choose this topic? Research Importance Why do you choose this topic? “Investigating the economic consequences of increased voluntary disclosure has become an established part of mainstream accounting research over the last 10 years. The reason behind the increased attention is that this research has potential policy implications. It helps to inform regulators (and managers) about the benefits of increased disclosure to investors and the disclosing firm. In this way it provides part of the information that is needed for a more informed cost-benefit analysis of increased disclosure (requirements)”. (Hussainey et al, 2003)

What are your research motivations? Why it is interest to look at the relationship between ‘Y’ and ‘X’? Why is it of interest look at this research topic ‘again’? Does it potentially tell us something different from what we learnt before? What are the uniqueness of your context?

Contributions PhD theses, by definition, should offer novel contributions. Contribution: What does your study add to our understanding of accounting? Establish how your study is new and interesting relative to the prior literature i. The topic itself is interesting and important ii. The study is differentiated from and extends prior literature - Identify important implications in terms of actions or beliefs that will change based on your study

Research contributions To knowledge: This is the first research about ….. Or the first research to examine …….. To theory: The research shows that ……. theory is applicable to …………context. To methodology: The research uses a new measure for …. To practice: we offer a practical contribution by ….

Main Findings Our results show .............. Our analysis shows that …… We provide evidence that ….. We find ……. THIS SECTION CAN BE MERGED WITH THE CONTRIBITONS. We offer a number of contributions. We provide the first empirical evidence that …..

The structure of the thesis Chapter 2 discusses …………….Chapter 3 reviews the academic literature concerning …….Chapter 4 describes the methodology that is adopted in the present study …………………..Chapter 5 extends the work of Chapter 4 by using the disclosure topics ………………………Chapter 6 uses the cross-sectional regression analysis to examine ……………………..Chapter 7 examines the association between ……………………Chapter 8 summarises the main findings, the implication of the results, the limitations of the study and the suggestions for future research.

Theory Theory: Is your study’s conceptual framework logically consistent and credible? Develop your conceptual framework by applying theoretical arguments and/or previous empirical findings to a specific setting Explain how your study distinguishes among alternative explanations for your predictions, or discuss why it is not important to do so in your setting (Evans III et al, 2015)

Critical literature review Critical literature review is NOT to provide a summary of everything written on a research topic. Good critical literature reviews tell a story and help to advance our understanding of what is already know (Jesson and Lacey, 2006). A critical review evaluates the strengths and weaknesses of an article's ideas and content.

Saunders et al. (2012)

Saunders et al. (2012)

QUALITATIVE RESEARCH QUESTIONS In a qualitative study, inquirers state research questions, not hypotheses (i.e., predictions that involve variables and statistical tests). Researchers might ask one or two central questions followed by some subquestions. Several subquestions follow each general central question; the subquestions narrow the focus of the study.

Research Questions What is your precise research question? You need to consider (Evans III et al, 2015): The meaning of key terms in the research question. The scope of the research question. Whether the research question involved a casual relation or an association.

Research hypotheses Quantitative research questions inquire about the relationships among variables that researchers seek to know. The hypotheses should base on relevant theories (sometimes base on relevant empirical results of previous studies or rather reliable arguments).

Types of Hypotheses Null hypothesis H0: There is no significant difference between the association between share price anticipation of earnings and voluntary disclosure for high-growth firms and low-growth firms. Alternative hypothesis H1: There is a significant difference between the association between share price anticipation of earnings and voluntary disclosure for high-growth firms and low-growth firms.

Types of Hypotheses Directional hypothesis Nondirectional hypothesis H1: There is a positive relationship between firm size and voluntary disclosure. H2: There is a negative relationship between dividend payments and voluntary disclosure. H3: There is a relationship between profitability and voluntary disclosure.

Research Method The methods section is the most important part of the thesis because it provides the essential information that allows the reader to judge the validity of the results and conclusions of the study reported (Richard Kallet). Structure and content of the methods section Data Issue (sample selection; sample period; context) Variables definitions and measurements Method used (qualitative versus quantitative) Descriptive analysis

Discuss your data: sample selection; variables; source of data Quantitative: Discuss your data: sample selection; variables; source of data Discuss your measures: how developed (existing or new instruments) pilot study validity & reliability tests Report and discuss modeling techniques used and assumptions (OLS, FE, RM). Discuss the expected association between the dependent and independent variables. Descriptive analysis for the sample Correlation, VIF…check for multicolliearity

Single or multiple (why the case is relevant to the study) Qualitative Single or multiple (why the case is relevant to the study) How long have you been researching in the case organization How many people contacted, how long, and who are they (their characteristics) Response rate Validity and reliability tests

Research design and analysis (Evans III et al, 2015) a. Research design and analysis for Archival Studies i. Select the appropriate sample, proxies, and empirical models ii. Consider alternative explanations iii. Conduct tests to support your theory and rule out alternative explanations b. Research design and analysis for Experimental Studies i. Consider in advance which design and operationalization of variables provide the best test of your theory and help rule out alternative explanations ii. Consider potential mediating or moderating variables that would be consistent with your theory and inconsistent with alternative explanations iii. Consider incorporating a predicted interaction to control for potential omitted variables iv. Conduct tests to support your theory and rule out alternative explanations c. Research design and analysis for Field Studies i. Establish field data reliability ii. Ensure the validity of the field study inferences d. Research design and analysis for Survey Studies i. Match the design of the survey with the purpose of the study ii. Establish survey data generalizability iii. Ensure the internal validity of the survey study inferences

Findings: Quantitative Describe the statistical significance, and the economic magnitude or effect size of the results, if applicable Relate your findings to hypotheses or research questions Explain the degree to which your findings are consistent/inconsistent with relevant theories and prior research If data support only part of the predicted pattern, or if different analyses lead to different statistical inferences, consider possible reasons for this to evaluate the reliability of your findings Provide the evidence from Tables

Findings: Qualitative Do not just tell a descriptive story Structure paper around key themes Provide the evidence : quotes from interviews Link findings with respondent’s own demographic characteristics, so that any emergent patterns might

Interpretation of empirical results (Evans III et al 2015) i. Describe the statistical significance, and the economic magnitude or effect size of the results, if applicable ii. Discuss and justify the pattern and magnitude of the results based on your story and findings in prior studies iii. If data support only part of the predicted pattern, or if different analyses lead to different statistical inferences, consider possible reasons for this to evaluate the reliability of your findings

DISCUSSION - Summarise the main findings - Link the findings with both theories and literature - Confirm the expected findings - Discuss the unexpected findings and offer potential reasons for these findings - Discuss the ‘so what’ questions. What are the practical and theoretical implications of the findings? .

Conclusion The conclusion is not a summary. This is the place to share with readers the conclusions you have reached because of your research. The Purpose of a Conclusion 1. tie together, integrate and synthesize the various issues raised in the discussion sections, whilst reflecting the introductory thesis statement (s) or objectives 2. provide answers to the thesis research question (s) 3. identify the theoretical and policy implications of the study with respect to the overall study area 4. highlights the study limitations 5. provide directions and areas for future research Dr. Joseph Assan (Liverpool University) Writing the Conclusion Chapter: the Good, the Bad and the Missing

Good versus bad conclusion* 1. be a logical ending synthesizing what has been previously discussed and never contain any new information or material 2. It must pull together all of the parts of your argument and refer the reader back to the focus you have outlined in your introduction and to the central topic and thereby create a sense of unity. 3. be very systematic, brief and never contain any new information. * Dr. Joseph Assan (Liverpool University) Writing the Conclusion Chapter: the Good, the Bad and the Missing just ‘sum up’ end with a long quotation focus merely on a minor point in your argument introduce new material

Conclusions (Evans III et al, 2015) i. Relate your conclusions back to your motivation and research question ii. Avoid over-generalizing or over-concluding iii. Discuss the contribution and implications of your finding

REFERENCES The bibliography is put into alphabetical order according to the surnames of the authors you are citing Be consistent in writing references Example: Hassanein, A and Hussainey, K. (2015). “Is forward-looking financial disclosure really informative? Evidence from UK narrative statements”, International Review of Financial Analysis, 41, 52-61. Cite only relevant articles Cite every article at least once Verify correct articles are cited in your paper

Citation in text Please ensure that every reference cited in the text is also present in the reference list (and vice versa). Any references cited in the abstract must be given in full. Unpublished results and personal communications are not recommended in the reference list, but may be mentioned in the text. If these references are included in the reference list they should follow the standard reference style of the journal and should include a substitution of the publication date with either 'Unpublished results' or 'Personal communication'. Citation of a reference as 'in press' implies that the item has been accepted for publication.

Web references As a minimum, the full URL should be given and the date when the reference was last accessed. Any further information, if known (DOI, author names, dates, reference to a source publication, etc.), should also be given. Web references can be listed separately (e.g., after the reference list) under a different heading if desired, or can be included in the reference list. References in a special issue Please ensure that the words 'this issue' are added to any references in the list (and any citations in the text) to other articles in the same Special Issue.

Reference Style Citations in the text should read thus: Jones (1998), Jones and Jones (1998), or (Jones & Jones, 1998), Jones, Anderson, and Douglas (1998) or (Jones, Anderson, & Douglas, 1998). For 2-5 authors all authors are to be listed at the first citation. At subsequent citations use first author et al. When there are more than 5 authors, first author et al. should be used throughout the text. The list of references should be arranged alphabetically by authors' names and should be as full as possible.

References should be listed in the following style: Innes, J., Mitchell, F., Sinclair, D. (2000). Activity-based costing in the UK's largest companies: a comparison of 1994 and 1999 survey results. Management Accounting Research, 11(3), 349-362. Fairclough, N. (2003). Analysing Discourse: Textual Analysis for Social Research. London: Routledge. Ritchie, J. (1991). Enterprise cultures: a frame analysis. In R. Burrows (Ed.), Deciphering The Enterprise Culture (pp. 17-34). London: Routledge. Cohen, D., Dey, A., Lys, T. (2004). Trends in Earnings Management and Informativeness of Earnings Announcements in the Pre- and Post-Sarbanes Oxley Periods (Working Paper, Northwestern University), available on the internet at http://papers.ssrn.com/so13/papers/cfm?abstract_id=56892l Accessed 13.03.08.

Please see the following link for more detailed: References  European Accounting Review uses the  APA (American Psychological Association) referencing system. Please see the following link for more detailed: http://www.tandf.co.uk/journals/authors/style/reference/tf_APA.pdf

Tables; Charts; Appendices Charts, tables, diagrams, appendices and all equations should be original work. In the event it is necessary to use an item from another source, it must be cited appropriately. Charts, tables, diagrams, appendices should be placed – in most cases – at the end of the paper after the reference list. In the case of table, authors should write INSERT TABLE ……ABOUT HERE in the body of their manuscript. Be sure that the content of the charts, tables, diagrams, appendices and all equations are properly discussed in the body of the paper.

3. Figures and tables  General  Tables and figures should be as self-contained as possible. Please check that your text contains a specific reference to each table and figure (e.g., ‘(See Figure 1)’; ‘…as indicated in Table 2’, etc.). Tables *  Tables must appear at the end of the manuscript. Authors should make an indication in the body of the text as to where the tables should be included. Tables can be single spaced and the font size should not be smaller than 8pt. Each table must have a title followed by a descriptive heading. Tables should be substantially understandable without reference to the text. It is also unnecessary to define every variable in every table: for example, you can instead refer to a stand-alone table or an appendix. Describe the sample, tests, variables, and variable abbreviations in the table heading (not in footnotes). Tables reporting regression results should normally include the estimated equations.

Footnotes should be numbered consecutively throughout the manuscript with superscript Arabic Numerals (1, 2, 3, ……). They may be presented at the bottom of the related pages or collected in a separate file at the end of the text.

Khaled Hussainey Professor of Accounting and Financial Management Portsmouth Business School Portsmouth University Telephone: Mobile 07727190105 Office 02392844715 Email: khaled.hussainey@port.ac.uk