Editorial

Citation

Burton, B.M. (2009), "Editorial", Qualitative Research in Financial Markets, Vol. 1 No. 1. https://doi.org/10.1108/qrfm.2009.40701aaa.001

Editorial

Article Type: Editorial From: Qualitative Research in Financial Markets, Volume 1, Issue 1

I am delighted to welcome readers to the first issue of Qualitative Research in Financial Markets (QRFM), the first dedicated journal of its kind in the broad finance area. The notion of establishing a journal focussing on the use of research methods (and methodologies) other than those drawn from the “conventional” large-sample quantitative paradigm arose when I was acting as Guest Editor for a special issue of another Emerald journal, Studies in Economics and Finance (Burton, 2007). In sourcing and reviewing the articles for the special issue, it rapidly became clear that a great deal of well-thought out and professionally conducted work of a qualitative nature is taking place in the field and – although some evidence is starting to emerge of high-profile finance journals publishing the results of such work on a more regular basis than has previously been the case – an outlet devoted to these studies was needed. While more detail on the need for a forum for these research endeavours is set out in the editorial for the special issue (Burton, 2007), it is evident from the first submissions to QRFM that the scope of on-going qualitative work (in terms of both empirical issue and geographical focus) is extremely wide and that the journal will be in a position to publish high-quality studies that provide new insights into the behaviour of financial markets on a regular basis.

In addition to welcoming papers concerning any aspect of financial market operations that employ – or discuss the potential use of (and methodological issues regarding) – case studies, questionnaires, interviews and related qualitative research tools, I would be more than happy to consider suggestions for special issues of QRFM; the remit of the journal is (intentionally) broad and ideas are always welcome. In this context, I am delighted to say that Professor William Forbes and Dr Paul Hamalainnen have agreed to act as Guest Editors for a forthcoming special issue looking broadly at the credit crunch – further details regarding this (and the underlying aims of the journal) are available at the QRFM web site.

The three articles selected for inclusion in this first issue are intended to illustrate the breadth of topic and approach that QRFM is looking to support and encourage over coming years. In “The appraisal of equity investments by Nigerian investors”, Tijjani, Fifield and Power report the results of a series of interviews with Nigerian brokers and investors that focus on the methods used to analyse equity investments. The findings suggest that, as in many other countries, fundamental analysis is of prime importance, but risk analysis plays a stronger role than in many other nations. The study also sheds light on the importance, in a developing market context, of the exposure to political risk factors. The second paper, “Fund managers as cultural observers” by Johan Henningson, details the findings from a series of 14 interviews with fund managers in Sweden that sought to explore the impact of social forces when information, in particular intellectual capital information, about potential investee firms is being observed. The findings suggest that a three-dimensional social force influence exists, but social network interaction reduces the level of complexity such that corporate information can be made sense of in a meaningful way. The third article, “Anti-money laundering efforts, stock market operations and good governance”, by Dayanath Jayasuriya, is an example of another type of study that I am keen to promote in the journal. The paper provides a detailed review of key concepts and literature regarding the potential role of regulation and governance in tackling money laundering in global capital markets, and makes cogent suggestions about the manner in which qualitative research could best be employed to shed light on the central issues in the future.

Finally, I would like to thank members of the Editorial Board, colleagues in the School of Accounting & Finance at the University of Dundee and the team at Emerald, including Andrea, Helen, Joe, Juliet and Simon, for supporting the development and launch of QRFM.

Bruce M. Burton