Dr Tim Worth Southampton University Writing Centre 65/2165 Literature Reviews Dr Tim Worth Southampton University Writing Centre 65/2165

What is a literature review? A survey of previous and current research on your topic A critical analysis of the key texts relating to your research

Why is a literature review important? Demonstrates that you know your topic Provides you with a foundation for your dissertation Helps you to identify gaps in the research

What should a literature review do? Summarise state of research Identify relevant theories and concepts Critically analyse key texts - What are their arguments? - What are their strengths and limitations? Relate literature to your own research

What should a literature review not do? Don’t try and write about everything Don’t just describe the texts – analyse them too Don’t go over the top when critiquing texts Don’t ignore texts which might challenge your own research – engage with them!

Structure Chronological vs. Thematic - Chronological structure shows change over time - Thematic structure groups relevant texts together Try combining the two: - Thematic sections with some chronology to show change Use subheadings

Structure Literature review structure example: ‘Crowdinvesting in the UK – An explorative study’, University of Southampton MSc International Management dissertation (2014)

Structure Literature review structure example: ‘The role of social media as a strategic tool in restaurants marketing, decisions and outcomes: the case of Southampton’, University of Southampton MSc International Management dissertation (2014)

Structure ‘From YouTubers to Brand Owner: Exploring the Dynamic Process of Prosumer Evolution’, University of Southampton MSc Digital Marketing dissertation (2014)

Paraphrasing Why paraphrase? Demonstrates that you’ve not only read the text – you also understand it Saves space – quotes take up a lot of words Leads to a better style of writing

Paraphrasing Determining the direct effectiveness of linear TV ads is a very complex activity, especially regarding the establishment of accountable metrics on a medium-specific basis. As Hugues (1975) stated “It is well known that the relation between exposure and purchase is generally too complex or too weak to be measured. What we can try to measure with some chance of success are the effects of advertising on the aims of the campaign, on the themes of the messages.” ‘Interactive TV Advertising: Implications for Broadcasters, Agencies and Advertisers’, University of Southampton MSc Digital Marketing dissertation (2014)

Paraphrasing Determining the direct effectiveness of linear TV ads is a very complex activity, especially regarding the establishment of accountable metrics on a medium-specific basis. Whilst it is very difficult to measure the relationship between exposure and sales, it is possible to measure the impact of TV ads on the overall aims of the campaign (Hugues 1975). ‘Interactive TV Advertising: Implications for Broadcasters, Agencies and Advertisers’, University of Southampton MSc Digital Marketing dissertation (2014)

Paraphrasing According to Rodgers and Thorson(2012), advertising is a subcategory of Integrated Marketing Communications (IMC) that falls under the 4th P –“Promotion” – messages that are commonly defined as “paid communication from an identified sponsor using mass media to persuade an audience”. ‘Interactive TV Advertising: Implications for Broadcasters, Agencies and Advertisers’, University of Southampton MSc Digital Marketing dissertation (2014)

Critical reading Summarize the author’s argument in one sentence List their main points Add your own thoughts to each main point - Do you agree or disagree? Why? Is your dissertation building on this piece of work or challenging it? Is it a bit of both?

In finance, noting the effect of large sample size on significance testing, Connolly (1989, 1991) proposes using the Bayesian method of hypothesis testing previously developed by Leamer (1978) and Zellner and Siow (1979). However, it has been largely ignored in modern finance research. Specifically, Leamer (1978) recommends that the level of significance be adjusted as a decreasing function of sample size, which is not generally followed in finance (and neither in other areas). Recently, from a survey of the studies published in psychological journals, Johnson (2013) argues that the level of significance be set at 0.001 or 0.005 as a revised standard for evidence by reconciling the Bayesian and classical methods. In this paper, we find that the outcomes of significance testing reported in many studies included in our survey are reversed if the Bayesian alternatives were instead used or a much lower level of significance than the conventional ones was adopted as revised standard for evidence. Jae H. Kim & Philip Inyeob Ji, ‘Significance testing in empirical finance: A critical review and assessment’, Journal of Empirical Finance 34 (2015) 1–14

In finance, noting the effect of large sample size on significance testing, Connolly (1989, 1991) proposes using the Bayesian method of hypothesis testing previously developed by Leamer (1978) and Zellner and Siow (1979). However, it has been largely ignored in modern finance research. Specifically, Leamer (1978) recommends that the level of significance be adjusted as a decreasing function of sample size, which is not generally followed in finance (and neither in other areas). Recently, from a survey of the studies published in psychological journals, Johnson (2013) argues that the level of significance be set at 0.001 or 0.005 as a revised standard for evidence by reconciling the Bayesian and classical methods. In this paper, we find that the outcomes of significance testing reported in many studies included in our survey are reversed if the Bayesian alternatives were instead used or a much lower level of significance than the conventional ones was adopted as revised standard for evidence. Jae H. Kim & Philip Inyeob Ji, ‘Significance testing in empirical finance: A critical review and assessment’, Journal of Empirical Finance 34 (2015) 1–14

In finance, noting the effect of large sample size on significance testing, Connolly (1989, 1991) proposes using the Bayesian method of hypothesis testing previously developed by Leamer (1978) and Zellner and Siow (1979). However, it has been largely ignored in modern finance research. Specifically, Leamer (1978) recommends that the level of significance be adjusted as a decreasing function of sample size, which is not generally followed in finance (and neither in other areas). Recently, from a survey of the studies published in psychological journals, Johnson (2013) argues that the level of significance be set at 0.001 or 0.005 as a revised standard for evidence by reconciling the Bayesian and classical methods. In this paper, we find that the outcomes of significance testing reported in many studies included in our survey are reversed if the Bayesian alternatives were instead used or a much lower level of significance than the conventional ones was adopted as revised standard for evidence. Jae H. Kim & Philip Inyeob Ji, ‘Significance testing in empirical finance: A critical review and assessment’, Journal of Empirical Finance 34 (2015) 1–14

A review of the previous literature shows the positive link between the number of directors and business performance (Abdullah & Page, 2009). Specifically, Anderson et al. (2004) states that larger boards may concentrate more on effective management and high returns. Similarly, Ozkan (2007) used a large sample of 390 non-financial listed enterprises in the UK between 1999 and 2005 to examine the active influence of board size on the rights of shareholders and the value of the firms. On the other hand, other findings find there is an adverse association. Guest (2009) suggests that larger boards have a negative effect on performance. The reason for this is that more board members may increase the chances of poor decisions, and as such negatively affect company performance (Drobetz, 2004). Since a majority of prior studies use an analysis of financial-based measures, this research will concentrate on certain non-financial mechanisms. ‘Corporate governance mechanisms and firm performance: recent evidence from UK non-financial listed firms’, University of Southampton MSc Accounting and Finance dissertation (2014)

A review of the previous literature shows the positive link between the number of directors and business performance (Abdullah & Page, 2009). Specifically, Anderson et al. (2004) states that larger boards may concentrate more on effective management and high returns. Similarly, Ozkan (2007) used a large sample of 390 non-financial listed enterprises in the UK between 1999 and 2005 to examine the active influence of board size on the rights of shareholders and the value of the firms. On the other hand, other findings find there is an adverse association. Guest (2009) suggests that larger boards have a negative effect on performance. The reason for this is that more board members may increase the chances of poor decisions, and as such negatively affect company performance (Drobetz, 2004). Since a majority of prior studies use an analysis of financial-based measures, this research will concentrate on certain non-financial mechanisms. ‘Corporate governance mechanisms and firm performance: recent evidence from UK non-financial listed firms’, University of Southampton MSc Accounting and Finance dissertation (2014)

A review of the previous literature shows the positive link between the number of directors and business performance (Abdullah & Page, 2009). Specifically, Anderson et al. (2004) states that larger boards may concentrate more on effective management and high returns. Similarly, Ozkan (2007) used a large sample of 390 non-financial listed enterprises in the UK between 1999 and 2005 to examine the active influence of board size on the rights of shareholders and the value of the firms. On the other hand, other findings find there is an adverse association. Guest (2009) suggests that larger boards have a negative effect on performance. The reason for this is that more board members may increase the chances of poor decisions, and as such negatively affect company performance (Drobetz, 2004). Since a majority of prior studies use an analysis of financial-based measures, this research will concentrate on certain non-financial mechanisms. ‘Corporate governance mechanisms and firm performance: recent evidence from UK non-financial listed firms’, University of Southampton MSc Accounting and Finance dissertation (2014)

Hints and tips Prioritize texts - Devote more time/space to those which are more important Make use of previous studies – review articles Come up with questions for your literature review to answer - “How has [theory] previously been applied in [area of business]?” - “What are the implications of [article] for this dissertation?”

Summary A good literature review will… Survey the literature relating to your research, identify key texts and concisely summarize their arguments Critically analyse key texts to show strengths and weaknesses Demonstrate how these texts relate to your research Identify gaps in research which your dissertation will fill

Useful resources Dissertation Library on blackboard Royal Literary Fund guide to writing a literature review https://www.rlf.org.uk/resources/what-is-a-literature-review/ University of Leicester guide to writing a literature review http://www2.le.ac.uk/offices/ld/resources/writing/writing- resources/literature-review

The Writing Centre One-to-one writing tutorials Mon-Thurs evening tutorials, 5-8pm Hartley Library Daytime tutorials, various times, Avenue Campus 65/2165 Easter tutorials at 65/2165 Useful links Book a tutorial: southampton.mywconline.com Our writing guides: https://writingatsouthampton.wordpress.com/writing-guides/ sotonwriting@gmail.com @SUWritingCentre