The study uses both qualitative and quantitative approaches which benefit the study from triangulation and complement each other. The qualitative approach in this study is mainly conducted to follow up findings from quantitative data, to select variables and to help in understanding what the figures actually mean. As Patton (1990, p. 132) has suggested, “qualitative data can put flesh on the bones of quantitative results, bringing results to life through in-depth case elaboration.” Therefore, as in any mixed-methods design, the issues of priority, implementation and integration of the quantitative and qualitative approaches should be clearly stated (Creswell and Plano Clark, 2007). More specifically, decision on the following issues should be explicitly stated: the sequence of the data collection and analysis, the priority or weight given to the quantitative and qualitative study, and the stage /stages in the research process at which the quantitative and qualitative phases are connected and the results are integrated (Ivankova et. al., 2006; Creswell and Plano Clark, 2007).
5.8.1. Implementation (Timing) Decisions
The implementation aspect relates to the decision whether the quantitative and qualitative studies come in sequence (one following another), or concurrently (Ivankova et. al., 2006). Different answers to this question result in two ways of designing mixed methods research: concurrent (also referred to as parallel) or sequential study (Tashakkori and Teddlie, 1998; Creswell and Plano Clark, 2007). Studies using the explanatory design take place in two sequential phases, with the quantitative data
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collection and analysis occurring first and usually providing the overall emphasis of the study (Creswell, Plano Clark, et al., 2003). In addition, if the research purpose is to seek explanatory or development by combining quantitative data and qualitative data, then the sequential design is more likely to be chosen (Creswell and Plano Clark, 2007).
The study adopts a sequential design as the main purpose of the research is to quantitatively test the relationship between concentration and performance and further probe the quantitative findings through qualitative data so that a broader explanation of the phenomenon is secured. First, quantitative data is first analyzed and relationship established. This is then followed by a qualitative study to seek further explanation on the findings. The results from the two studies are integrated to ensure complementarity and triangulation.
Figure 5.1: Timing Decisions for this Study
Source: Author's framework
5.8.2. Weighting (Priority) Decisions
Weighting refers to the relative importance or priority of the quantitative and qualitative methods to answering the research questions (Creswell and Plano Clark, 2007). The research may give equal weight to quantitative and qualitative methods, or may weight them unequally (Creswell and Plano Clark, 2007). As stated in the definition above, the decision of choice between the two approaches mainly relies on their influence to address or answer the research questions. The study therefore obviously provides priority to the quantitative approach. The main and subsidiary research questions of the study can be answered through forming a casual relationship between selected variables and the qualitative aspect is aimed to explain (not to test the relationship) the
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quantitative result. Moreover, the study’s primary intention is to test the already framed theory in the Ethiopian banking context and has no intention to develop a new theory on concentration-profitability relationship. In such a situation, the quantitative study is more important in terms of understanding the relationship among variables stated in the theory. In addition, the qualitative result is demanded to deeply assess the phenomenon from the quantitative findings considering expert opinions from commercial banks and regulatory side. The availability of data and a framework from the literature to quantitatively test relationships between concentration and firm performance also supports the priority choice in this study from practical consideration.
5.8.3. Integration (Mixing) Decision
Integration refers to the stage or stages in the research process where the mixing or integration of the quantitative and qualitative methods occurs (Tashakkori and Teddlie 1998; Creswell et. al., 2003). Without explicit relating of the two methods, a study will be simply a collection of multiple methods rather than a real and strong mixed methods design, even if it includes both quantitative and qualitative study (Creswell and Plano Clark, 2007). As Bazeley (2009) points out, integration of conclusion is commonly seen in mixed methods research, ‘but blending data or meshing analyses has been much less common’ (Bazeley,2009, p.204). Therefore, quantitative and qualitative data should be integrated not only at the stage of results reporting, but also during the processes of data collection and analysis in order to maximize the integration of the two methods. This study also follows an integrated framework between the quantitative and qualitative methods at each stage of the data collection, analysis and reporting.
• Data Collection- the quantitative data is collected from publicly available resources (including annual reports, websites, the NBE etc). The quantitative data then forms the base to formulate interview questions. On the other side, the input from the qualitative data is used to refine the pre-set interview questions as well as to confirm or amend proxy measures employed in the quantitative study. • Data Analysis- the theme development process in the qualitative approach
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quantitative study are consumed to provide meaningful interpretation to the quantitative result with the purpose of triangulation.
• Final outcome of the entire study- the quantitative and qualitative approaches are mixed so that the integrated result provides answer to the research question of the study. The findings from separate assessment on the quantitative study and qualitative study are further compared and connected.