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1、1,Research Methodology and Method in Accounting and Finance,Li Zengquan SUFE/2011,引子：独立董事的价值,2010年度优秀独立董事,证监会是否应该规定公司必须聘请独立董事？,能够监督内部人 能够为公司提供咨询 能够降低监管部门的责任 能够为会计教授提供赚钱机会,不能够监督内部人 不能够为公司提供咨询 不能够降低监管部门的责任 不能够为会计教授提供赚钱机会,他们真的很厉害？可以抑制掏空、提供咨询、扶贫教授、保护官员？,答案好像是唯一的！,以独立董事为例,有人发现，独立董事越多（比例或人数，或有/没有）的公司，价值（会
2、计指标或股价指标）越高。,疑问1：有其他解释吗？,疑问2：穷尽了任何公司的任何时点吗？,疑问3：事实可信吗？（何谓公司价值）,该发现可以说明独立董事的价值吗？,以上例子中的方法论问题,研究问题：实证性命题（是什么？为什么）与规范性命题（怎么办？） 检验方法：推理与感知、归纳与演绎 计量方法：内生性,7,Part I: Methodology,8,Chap 1: The Philosophy of finance and accounting research,9,Research Progress,The Research Progress The statement of the resea
3、rch problem or issue to be investigated, or the theoretical explanation to be tested The translation of the abstract ideas in this theoretical explanation into concrete, explicitly identifiable ideas The development of measures of the important variables in the theoretical explanation,10,The develop
4、ment of a research design to guide the inquiry into the research problem The collection of the research data The analysis of this information in the context of the proposed explanation The interpretation of the information, or integration of the findings of the research with the existing knowledge b
5、ase,11,Some issues on philosophy,What is research? Research is a process of intellectual discovery, which has the potential to transform our knowledge and understanding of the world around us. Research methodological varied with such assumptions about The nature of reality The role of theory The sig
6、nificance of empirical experimentation Why is research methodology important? When a piece of research is characterized by poor technique, a critic may argue that the research is defective, weak or misapplied, however, when a methodological dispute is involved the research is simply labeled as nonse
7、nsical”.,12,Research in accounting and finance is generally accepted as being social scientific, as appropriate standards of scientific enquiry are applied to social issues rather than natural phenomena, which is taken to be the domain of the natural sciences and of physics in particular The social
8、scientific is serious affected by Duality within western thought Reality could be characterized by opposites There is an essential duality in all things,13,Individual subject,knowledge,beliefs,perceptions,appearance,reason,External object,14,Epistmology or what is knowledge Empiricism and rationalis
9、m: the source of knowledge Socrate and Plato Vs. Aristotle| Descartes, Hegel and Marx Vs. Newton Traditionally, classical empiricists accepted that Certainty of belief in what we know can only be approached through perception Ultimately all knowledge is derived from perception through our senses In
10、the realm of discourse statements are either true or false because of the way the world is or because of some formal properties of the language we used,15,Realism versus idealism: ontology of what we know Realisms hold that reality subsists within objects; idealists hold that it exists within the mi
11、nd of the subject Hume Vs. Berkeley Kant: Transcendental idealism There is an objective world or experience which we relate and ultimately test our claims to knowledge of what is true or false we can know them by the application of certain transcendent principles relativism,16,Logical positivism and
12、 instrumentalism Linguistic derivative of empiricism where the world of meaningful discoursed is controlled by a particular variety of the correspondence theory of truth Hold that: True belief is grounded in what we perceive and that what we perceive is derived from a value-free, independent reality
13、 Meaningful statements are only those which can, in principle at least, be verified by appeal to observation,17,Two difficulties The validity of the verification principle itself General laws and theoretical terms Instrumentalism The realism of given theoretical terms is quite irrelevant in determin
14、ing the validity of any theoretical constructions derived from them or in which they are embedded. E.g., The fact that a theory is unreal is quite irrelevant provided that it works in practice. Friedman(1953) Falsificationism (Popper,1959) Any statement which cannot be demonstrated to be false is me
15、aningless and any theory which cant be falsified is devoid of empirical content,18,Positive economics,Friedman (1953) Alchian(1950) 张五常（2001） Holthausena and Watts (2001),Uncertainty, Evolution and Economic Theory,Armen A. Alchian In Journal of Political Economy 58, no. 3 (June 1950): 211-221,Outlin
16、e,In this paper, Alchian suggests an approach This approach embodies the principles of biological evolution and natural selection by interpreting the economic system as an adoptive mechanism which chooses among exploratory actions generate by the adaptive pursuit of success or profit This modification incorporate incomplete information and uncertain foresight as axioms, but dispense with profit maximization, and does not rely on the predictable individual behavior The method of u
