This presentation talks about need for research, the way impact of research is measured and the current trends in making research more visible. A case of econometric is dealt with,

1. Trends & importance of research in
current scenario : case in
Econometrics
S G Deshmukh
ABV-Indian Institute of Information Technology &
Management Gwalior
FDP on
“Applications of Econometrics in Management Research”
21 June 2013

2. Acknowledgement
This presentation is based on extensive
discussions/information sharing sessions with
– Prof Abid Haleem , Prof R S Deshpande, Prof S Mahendra Dev,
Prof M H Suryanarayana, Prof N K Sharma, Dr Jitesh Thakkar
– Thankful to numerous research scholars and faculty
members from various institutes for making us realize
the trends and importance of research in current
scenario
2

3. Prelude..
You may look at the presentation
given by me on 14 Jun 2013 at FDP on Multivariate
Data Analysis for Management Research at ABV-
IIITM Gwalior.
Available at
http://www.slideshare.net/SanjeevDeshmukh
/trends-inconnectingresearchsgd2013
3

4. Commentary..
• What is the problem with
most researchers
- ask vague questions and then
expect precise answers out of
great path breaking research !

5. Speaking points..
• About research..
– Why research
– Types of research
• About some of the current trends
– T1: Too much yet too little
– T2: Collaboration & Connectivity
– T3: Digitization of Impact of research
• About econometrics..
• Closing remarks..
5

6. Why research..1..
Your research credentials are looked through
I. Visibility & Accreditations
II. Knowledge creation and dissemination
III. Attracting students, researchers, faculty etc.
IV. Funding, Industry support & Sustainability
Source: Haleem Abid, 2013, Enhancing research credentials,
presentation for faculty at AMU
6

7. Benchmark for Excellence as required by NAAC
S.
No.
Indicators Range & benchmark
indicators
High Medium Low
1 Percentage of annual allocation for library spent
on purchase of journals & other library resources
(CDs’ Cassettes, etc.)
>15
%
>12 to
15%
>8 to
11%
2 Number of national / international Conferences /
workshops organized per department per/yr.
>3 2 1
3 The number of departments with UGC/ DST/
FIST etc, in university
>25
%
>10-
25%
<10
%
4 Revenue generated from consultancy per/ yr >50
lac
>20-50
lac
<20
lac
5 Number of MOU’s with International recognized
bodies
>30 >10-30 <10
6 No. of Post Doctoral Fellows/ Research
associates working a) Locals b) Outsiders
>50 >10-50 <10
7

8. Benchmark for Excellence as required by NAAC
S.
No.
Indicators Range & benchmark
indicators
High Medium Low
7 Percentage of teachers with Ph.D. qualification
General Courses Professional Courses (for ex. MD
/DM for medicine and ME/MS for engg)
>90-
100%
50-90% <30%
8 National recognitions for faculty for Teaching /
Research/Consultancy / Extension.
>20% >5-20% 1-5%
9 Percentage of courses / programmes that formally
integrate e-learning resources from digital library
retrieval.
>80% >40-80% <40%
10 No. of completed research projects/per teacher
(Funded by National /International Agencies)
>2 >1 <1
11 No. of outgoing research projects / per teacher >1 >0.5-1 <0.5
12 Coordinated / Collaborative Projects (National &
International)
>2 >1 <1
8

9. Benchmark for Excellence as required by NAAC
S.
No
Core Indicators Range & benchmark
indicators
High Medium Low
13 Publications per faculty >5 >3 <3
14 Percentage of papers published in journals
listed in well known international
databases
>75% >50-
75%
<50%
15 Average impact factor of publications >2 >1 <1
16 Number of papers with more than 10
citations
>10% 5-10% <5%
17 Number of book titles per student (in the
central library) excluding book bank
>100 >80 to
100
<60
to 80
18 No. of Patents (last 5 Year) >20 <5-20 <5
19 Output of M. Phil & Ph.D. per faculty 5 3-4 <3
9

10. THE: World university ranking template
www.timeshighereducation.co.uk/world-university-rankings/
Sn Factor Weightage
1 International outlook 7.5 %
2 Research : Volume, Income,
Reputation
30.0 %
3 Citations: Research influence 30.0 %
4 Industry Income: Innovation 2.5 %
5 Teaching: Learning
environment
30.0%
10

11. http://www.timeshighereducation.co.uk/world-
university-rankings/
Rank University Country
1 California Inst of
Technology
USA
2 University of Oxford UK
3 Stanford University USA
4 Harvard University USA
5 MIT USA
11

12. India’s outstanding universities
www.careers360.com/Archive/56-Archive
12
University WOS Scopus
2011
BHU 7382 14820
University of
Delhi
8439 13169
University of
Calcutta
4010 12763
University of
Hyderabad
3692 12122
Jadavpur
University
5804 11458

13. Why research ..2..
Objectives of Ph D Programme at IITB
• The broad objectives of the Ph.D.
programme is not only to keep
pace with the expanding frontiers
of knowledge but also to provide
research training relevant to the
present social and economic
objectives of the country.
• The academic programme leading
to the Ph.D. degree is broad
based and involves a minimum
course credit requirement and
research thesis.

14. Typical expectations at Doctoral level
• Creation and interpretation of new knowledge
– Through original research, or other advanced scholarship
– Of a quality to satisfy peer review and merit publication
• Systematic acquisition and understanding of a substantial body of
knowledge
• At the forefront of an academic discipline or area of professional
practice
• Conceptualise, design and implement a project for the generation
of new knowledge, applications or understanding
• Detailed understanding of applicable techniques for research and
advanced academic enquiry

15. Why research ..3..
Phd: Ground reality
• Cosmetics !
• Promotion & Career Advancement
• Build, “Think Tank”
• Academic Recognition & Team building
• R&D in Industry
• Problem Solving
• Export of Expertise
• Learning to work out to minimize efforts to do a
task/job

16. Reality check:
Typical comments on Ph D work..
• Too much theoretical content
• Compartmentalized approach
• Gap between what is researched and what is
required
• Not socially relevant

17. Driving forces & Sources of Ideas
Driving Forces behind
Ph D
• Interest
• Market forces
• Status
• Recognition
• Dream
• Fire & Spark !!
Sources of Ideas
• Lab
• Library
• Computer
• Internet
• Industry
• Mistakes done in past

18. Skills expected from a RS
• Technical skills : Subject matter
• Ability to pose questions
• Ability to work independently
• Ability to identify with the community
• Soft skills: Communication, team work,
perseverance , tenacity
• Ph D : Perseverance, Hard work and Determination

19. Skill Set ..
Hard Skills
• Domain knowledge
• Problem solving aptitude
• Ability to use/handle
technology
• Ability to analyze
• Ability to synthesize
• Ability to innovate
Soft Skills
• Ability to communicate
• Ability to work in a team
• Ability to have a positive
frame of mind
• Ability to negotiate
• Ability to handle stress

20. Observation:
Researchers and research quality
• The profile of researchers in the country is by
and large not very promising
• There is a disconnect between researcher and
his research
• Disconnect between researcher in India and
the Global community
• Not able to penetrate into high quality
original/novel research as recognized by the
international community

21. Current scenario characterized by ..
• Collaborative & connectivity focus
• Interdisciplinary push & pull
• Immediacy factor & need for visibility
• Suited to addressing socio-economic
imperatives

22. Remarks..
• Developments at the global level are taking
place very rapidly
• Unless there is serious research, it is difficult
to keep track of these developments and
translate these outcomes into classroom
• Global integration after 1990- Indian
academics also needs to be integrated

23. Remarks..
• If somebody relies only on teaching, he/she
may not get recognition in research
community l
• There is no guarantee that what is applicable
in USA/Europe is applicable in India or in
emerging markets !
• Management Faculty has to be research
active!

24. Why research ..4..
Some hard facts
• Consideration for higher positions in good
management schools not possible unless there is
good number of quality journal publications
• Funding is not possible unless good publications !
• Incentives based on publications!
• Publications not possible unless there is research !

25. Remarks..
• Focus is hardly on publication in the research
program. At times working papers (in house)
are taken as research publications

26. Teaching-Research–Consulting-
Training Cycle
Teaching
Training
Consulting
Research

27. Researchers and research quality
• The profile of researchers in in the country is by
and large not very encouraging
• Disconnect between researcher in India and
the Global community
• Not able to penetrate into high quality
original/novel research as recognized by the
international community
• Source: Deshmukh SG, 2013, Trends in Research in current scenario: Connect
research, 14 Jun 2013

28. Research project types: General pattern
Four types of research projects pursued for doctoral
work:
Questionnaire based empirical research
Anecdotal research on some specific region or area
which analyses the data and makes conclusions in a
journalistic style
Case studies in a specific organization and to suggest
improvements using known methods
Quantitative/mathematical models on oversimplified
context of reality or extensions of work done by
researchers in developed world.

29. Research categories
Highly qualitative: Anecdotal based on hear-says, stories or
experience sharing by senior managers
Highly quantitative based on mathematical modeling focusing on
OR like models, theorems and lemmas. At times far more complex
than the need to do that. Complex model for routine operational
problems and vice versa. Strategic decisions still based on hunch.
Case -studies based: Based on real life application of known
concepts published in practical journals like the HBR or simulations.
Statistical analysis ,hypothesis testing using SPSS,Lisrel based on
instruments such as questionnaires. Hypothesis to be tested are
almost axiomatic at times. Reproducibility of results not assured.
Soft systems approach; System dynamics modelling,ISM, SWOT
analysis,SEM.The recent statistical tools have added esthetic value
to output through colorful charts diagrams, graphs which makes
even ordinary research finding look impressive.

30. Some research hypotheses
• “If you know the outcome of your research, then
you are not doing research”-Einstein.
• Hypothesis:”The relationship between Emotional
Intelligence and job performance will be stronger for
individuals whose job involves greater amount of
interpersonal interaction”-
• Hunch says true, So says the research findings.
Axiomatic hypothesis testing.(Source
Vision,Vol.14,no.4,Oct.-Dec.2010,pp.250-252).
• There is no new light by such like researches.
• Statistical packages such as SPSS,LISREL have made as if you are
doing in-depth research l

31. Typical objectives of research
• To gain familiarity with a phenomenon or to
achieve new insights into it
• To portray accurately the characteristics of a
particular individual, situation or a group
• To determine the frequency with which
something occurs or with which it is
associated with something else
• To test a hypothesis of a causal relationship
between variables

32. Motivation in Research
• Desire to get a research degree along
with its consequential benefits
• Desire to face the challenges in solving
the unsolved problems
• Desire to get intellectual joy of doing
some creative work
• Desire to be of service to society
• Desire to get respectability

33. Criteria for good research
• Good research is systematic
• Good research is logical
• Good research is empirical
• Good research is replicable

34. 34
Criteria for good research
• Good research is systematic- structured with
specified steps taken in specified sequence in
accordance with well-defined rules
• Good research is logical: logical reasoning makes
research more meaningful in the context of
decision making
• Good research is empirical: dealing with concrete
data that provides the basis for external validity to
research results.
• Good research is replicable

35. Trend 1: Too much yet too little
• Interconnected world: Millions of ideas getting
generated, developed and disseminated
• There are about 50k to 200k journals in the world !
• Faster publishing cycle
• Web enabled submission, review and publication
process
• Googalised research !
• Shelf life of an idea has shortened considerably !

36. Implications
• You have to update continuously
• You must know the state-of-the-art
• You have to be comfortable with Technology
(IT)
• You have to innovate continuously
• Literature review ?

37. Trend 2 : Collaboration &
connectivity !
• Sharing of information
• Institutional
collaboration
• Professional networks
• Social networks

38. Implications
• Sharing of information/Knowledge made easy
• “Open source” paradigm
• You must collaborate and connect
• Your collaborator may be anywhere in the
globe available 24 x 7 basis
• Power & influence of social media as a
binder!

39. Connectivity through social media
• Social media are tools for social interaction using
Web-based and mobile technologies (Wikipedia).
• These technologies, often referred to as Web 2.0 ,
provide services that support users in generating
and publishing their own content.
• The social interactions developed as a result of
this activity can support engagement with
communities of practice through networking and
other co-operative and collaborative practices.

40. Researchgate
www.researchgate.net
• A network for researchers
• One can share and
disseminate
• Contributions in terms of
publications, downloads,
datasets etc.
40

41. I link therefore I am..
• Pegrum, M., "'I link therefore I am': network
literacy as a core digital literacy", E-learning
and Digital Media 7(4), 346-354 2010
doi:10.2304/elea.2010.7.4.346
41

42. Trend 3: Digitization of research impact

43. Quality of Research based on Citation Report :
Scopus /web of science
• Total citations: 129
• Average citations :10.75
Authors Title Journal Total citation Average Citations Per year
Suresh Pvs, Rao PV,
Deshmukh SG
A Genetic Algorithmic Approach
for Optimization of Surface
Roughness Prediction Model
International
Journal Of Machine
Tools &
Manufacture 42(6)
, 675-680, 2002
129 10.75

44. Components of research outcome
• Individual Academic & Research Output
• Institutional Academic & Research Output
• Collaborations: How many people are we collaborating? the
collaboration index.
• Share in local, regional, National and Global knowledge
resources
• Patents, prototypes, new ventures
• Advisory and policy making role
• Conferences, seminars, Research papers, books and then
organized course material
Measuring this output through SCOPUS, h index, impact
factor SNIP, SJR, Google scholar, etc.
44

45. Individual academic / research Output
• Organized Course Materials, monographs
• Manuals
• Edited Volume
• Proceedings of Invited Lectures, Seminar, Workshop,
etc.
• Proceedings of Conference; refereed & non-refereed
• Text books, Reference Books
• Technical Reports
• Thesis
• Patents, prototypes
• Audio & Audio-Video Materials
45

46. Institutional research output
• Research papers in refereed journals
• Research papers in non-refereed journals
• Open access publications
• Institutional journal publications
• National / International Journals
• Research Books
• Seminar; National, International
• Workshops / Training programs
• Conferences; National, International
• Patents filed and received
• Industry projects undertaken
46

47. Alternative measures for impact of
research
altmetrics is the creation and study of new
metrics based on the Social Web for analyzing,
and informing scholarship. www.altmetrics.org
• Supplement to traditional peer-reviewed metrics
• Looks at downloads
• “Crowdsource peer-review”
• Many tools currently available:
– Google Scholar Profile/citations
– Mendeley
– Total-Impact
– ReaderMeter

48. Observation..
Econometricians rarely base their analysis on a controlled
experiment. Most of the time they are dealing with non-
experimental (=observational) data. Experimental data are
often collected in laboratory environment
Because of non-experimental nature of economic
relationships some standard assumptions made in statistics
are often violated and an econometrician has to find a way
to “fix” statistical methods to fit the situation.

49. Observation..
A major distinction is the econometricians’ concern
with disturbance term.
Economic specification of consumption function:
Consumption=f(Income)
Econometric specification: Consumption=f(Income)+u,
where u is an error term.
Without the error term the relationship is exact
or deterministic; with the error term it is
stochastic.

50. 50
Econometrics and Statistics
Regression Models : Linear & non-Linear
Multivariate Analysis
Cross-section : Likelihood Theory
Time Series : ARIMA
Non-Parametrics

51. 11 November 2007 51
Econometrics and Statistics
Non Experimental (i.i.d) Data
sample selection (self-selection)
endogeneity, instrumental variables
Misspecified Models : diagnostics/ model choice
Structural Modelling : causal relationships :
economic theory and insight
Identification : Structural <==> Reduced Form
moment conditions
Multivariate Time-series Analysis VAR with Non-
stationary data Cointegration CVAR

52. What is driving this relationship ?

53. Typical steps in econometric
analysis
Step 1: Careful formulation of the question of
interest. In most cases this step starts from a
formal economic model and leads to an
econometric model to be estimated
Step 2: Data collection
Step 3: Model estimation, inference, prediction
Source: Gujarati D, 1994, Basics of econometrics, McGraw Hill

54. My exposure to econometrics..
• Background in OR
• Taught courses such as : Probability &
Statistics, Statistics for Decision making
• Worked in IGIDR : a research institute set by
RBI
• www.igidr.ac.in
54

55. Refer to :
Parikh Kirit , Hans P. Binswanger-Mkhize &
Ghosh Probal , Structural changes n Indian
economy & its agriculture :1960-2040:
presentation at
Silver jubilee international conference on :
Development: Success & Challenges,
at IGIDR, 1-3 Dec 2012
http://www.igidr.ac.in/index.php?option=com_conte
nt&view=article&id=277
55

56. Issues to be addressed..
What is the role of Agriculture in Sustained
Inclusive Double Digit Growth over the next
three decades?
How important are Irrigation, Productivity
Growth and Trade?
How is Structural Transformation progressing
in India?
56

57. Assignment to you..
• In order to address these issues, what tools
and techniques are to be used?
• How to model various relationships
• How to estimate various parameters?
• How to formulate and test the hypotheses ?
• What policy experiments can be run?
• What insights do we get ?
57

58. Insights..
As shared by my Ph d student*
• Sometimes in life you are busy because you have reasons and other
times you search the reasons to make yourself busy! – Research is
an instrument to experience second part!
• Real enjoyment lies in chasing the challenges and not only in
cherishing the results!
• Literature is like a detergent, helps to investigate and purify SELF at
each stage!
• Moving from accepting a sentence as a universal truth; to seeing it as
a proposition for further exploration; to have a strong desire to
critically evaluate it as a hypothesis - dictates the advancement of an
individual in research!
* Dr Jitesh Thakkar, Faculty at IIT Kgp
58

59. Closing remarks..
• Research is inevitable.
• Good research brings visibility and recognition
• Trends such as limited shelf life, collaborative
forces, connecting push and digitization of
research outcome affecting the quality and
quantity of research
• Econometrics: a serious discipline and offers
lot of challenging problems to be addressed
59

60. References
• Waldrop M (2008) Science 2.0: Great new tool, or great risk? Scientific American.
Available at: http://www.scientificamerican.com/article.cfm?id=science-2-point-0-
great-new-tool-or-great-risk
• Digital Researcher http://www.vitae.ac.uk/researchers/315321/Digital-
Researcher.html
• Cann, A., Dimitriou, K., Hooley, T., "Social Media : A guide for researchers",
(February), 2011
http://www.rin.ac.uk/our-work/communicating-and-disseminating-research/social-
media-guide-researchers
• Gujarati D , Essentials of Econometrics, McGraw Hill, 2004,
• iGoogle http://www.google.com/ig
• Google Reader http://www.google.com/reader
60

61. Thank you
deshmukh.sg@gmail.com
Visit me www.slideshare.net/SanjeevDeshmukh/
61