2 PHASE TWO QUESTION ‘ARE THERE ANY RISK ASSOCIATED WITH THE INVESTM...

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