Grounded Theory Research in Economics and Business Literature: A Review

Abstract

Science, rooted in the intellectual endeavors of early civilizations, has grown into a discipline characterized by systematic data collection to explain phenomena. This evolution manifests in two primary research methodologies: quantitative and qualitative. The quantitative approach, grounded in positivism, employs numerical data to analyze and present relationships in measurable terms. Conversely, qualitative methods prioritize the exploration of social phenomena through a flexible framework, incorporating diverse designs such as action research, case studies, ethnography, and grounded theory. Although economics and business administration traditionally favor quantitative analysis, there has been an increasing openness towards qualitative, and at times, mixed-method approaches. This study focuses on the utilization of the grounded theory method within economics and business research, aiming to ascertain its prevalence and implications for future inquiry. The importance of the study is to understand how frequently grounded theory is used in economics and business studies and to shed light on the future researchers who intend to work in this field. Through a systematic literature review leveraging the Web of Science (WoS) and Google Scholar databases, findings indicate a predominant use of grounded theory for data analysis, with frequent references to Strauss and Corbin, and a preference for interviews as the primary data collection technique.

Keywords

• Grounded Theory
• Economics
• Business Studies
• Content Analysis
• Qualitative Research Methods.

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