4.2 Phase two
question ‘are there any risk associated
with the investment?’ to a binary response,
The second part of the study used the
the categories ‘yes/no’ were provided. The
response data collected in phase one.
same question with no predefined
That is, participants from the first phase
categories, but space for a respondent to
were considered to have shared their
write, enabled an open-ended response
knowledge about the investment
structure. A directed response structure
opportunity by means of responding to the
posed questions. The objective of this
was similar to open-ended but elaborated
phase was to test the three hypotheses
the question to also require the
and establish whether or not, a recipient’s
respondent to provide supporting rationale
attitude towards received knowledge
for their response.
differed with the structure of the response.
Next, the case and questions were
collated into three questionnaires. The first
To achieve this, three new questionnaires
were developed. Each questionnaire
questionnaire contained the case and the
contained the same instructions and
corresponding binary response questions.
measurement instrument, but differed in
The second questionnaire comprised the
the question structure (binary, open-
case and the questions allowing for an
ended, directed) and corresponding
open-ended response. Finally, the third
questionnaire was composed of the case
responses. For instance, the first
questionnaire contained the questions in
and the directed response questions. All
three questionnaires informed participants
the binary structure and their
that their responses to the questions
corresponding responses; the second
would assist senior management in their
questionnaire the open-ended questions
and responses; and the third questionnaire
investment opportunity decisions. Both the
scenario case and corresponding
the directed questions and responses. The
measurement instrument consisted of the
questions were generic and simplistic
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