Qualitative research in finance

This paper provides an overview of qualitative research to encourage finance researchers to apply a more diverse approach to current research practices. Social science researchers recognize that research questions should determine what research paradigm is best for each study. Imagine the benefits to finance if the empirical sources of data are expanded to include what people have to say, which then allows to explore the complex reasoning behind these conversations. It is the intent of this paper to enhance current research practices in finance through the use of qualitative methods and to view this approach as an invaluable supplement or prelude to existing practices.
For social science researchers it is their duty to promote and adhere to the highest standards of practice. They must avoid the convenience of cherry picking a design for their study from various research techniques. Rather, they should allow the research questions to determine what path is best for each study.