Research Ethics Application

1. Title of Project:

An evaluation of the role of interest rates and its impact on the Gross Domestic Product(GDP) of emerging economies: A case study of the Nigerian financial economy

2. As this a a student project, please indicate type of course you are on by ticking/ highlighting the relevant box:

R MSc □ MA □ MBA

3. Type of study: please indicate type of study you are on by ticking/ highlighting the relevant box:

□ Involves direct involvement by human subjects

R Involves existing documents/anonymised data only.

4. Name of applicant (the student):

Abraham Chukwu

5. Your project supervisor(s)

Name(s): Dr. Jane Croad

E-mail(s): [email protected]

6. Provide a concise summary of your research project in lay terms (maximum length 150 words). What are you planning to do?

This research is intended to find out the role interest rates play in the value of the Gross Domestic Product(GDP) of Nigeria as an emerging economy. Investment, which is a a variable of GDP, is usually affected by the interest rates bank charge to borrowing customers. Usually, businesses approach banks for funds to do business and the impact of these businesses they do in seen in the GDP of the nation. One may, on the surface, say that high interest rates will dissuade these businesses from borrowing money from the banks and thus, affecting GDP negatively. So, the essence of this research is to find out how these interest rates are determined in Nigeria, how business men respond to the rates and the effect the interest rates have on their level of business activities which eventually resonates to the computation of the country’s GDP

7. Describe the sample of participants (including for example, number, age, gender).

Zenith Bank has been chosen as the case study bank in this research. There are going to be ten(5) participants. They will be all be branch managers of branches where lending is predominant. They will be three female branch heads and two male branch managers. They will all be above 35 years of age with at least ten years working experience in the bank

8. Explain concisely how you will recruit the participants (be specific).

Firstly, I will choose the branches I intend to use. Secondly, I will send an invitation letter via emails to the specific branch heads, describing what I intend to do and what is expected of them, stating also that participation is voluntary.

9. Explain concisely how you obtain informed consent from participants. You need to ensure it is easy for people to withdraw consent and tell them how.

I will send them a questionnaire consent form with a tick box to signify consent. There will also be a clause of comfort that they can withdraw their consent at any time if they feel its in there best interest without giving any reason, by simply sending a mail to that effect

10. Explain how you will maintain data protection. State what personal and/ or sensitive data you may collect and how this will be stored (see guidance UK General Data Protection Regulations (GDPR)).

I will be collecting sensitive data like interest rates and concessions the bank has given to her customers over the past ten years. I will also collect data about rate rejection and complains from customer. This data will be stored in a password protected worksheet to avoid access by non-authorized users

11. Explain concisely how you will offer review opportunities, a debrief or, follow up for participants (as appropriate).

I will use a debriefing statement that participants can request for a summary of my finding by leaving me email on the questionnaire that will be used to collect relevant data

12. Briefly describe each of your data collection and analysis methods (you may just have one method)

Method 1

Administration of questionnaires will be used. The questionnaire will give respondent opportunity to provide as much as information as needed. The information will be collated, sorted and analyzed as appropriate.

Method 2

Interviews will also be held over the phone to ask certain question which the questionnaire may not elaborately capture. These interviews will be scripted and analyzed as appropriate

Method 3

Method 4

13. Risks

Explain any risks that your research participants might face because of the research project (this might include psychological and reputational risks)

Describe how you will control the risks you have identified

1

The risk of breach of privacy. Most persons won’t want to be identified as research participants for obvious reasons

I will tell them that their names wont be mentioned anywhere, that instead codes or numbers will be assigned to differentiate them. Also, that they can complete the questionnaire anonymously.

2

The risk of breach of information confidentiality. Participants maybe worried about how safe their information will be with me

Data collected will be stored electronically in a password protected sheets to avoid unauthorized access

3

4

14. Other ethical considerations

Explain any risks that you may face as a researcher, and what steps you will take to control them.

The risk I know I may possibly face is physical risk such as the stress, discomfort and possibly illness as a result of the daunting responsibility of this assignment.

To control this risk,I will have ensure I don’t stay longer than necessary on the system, take breaks when necessary and get as much comfort to make sure I don’t burn out during the research period. This will include taking leave from work to accommodate this work.

Explain briefly any benefits that your research participants may gain from participation.

My research participant will eventually understand how interest rates offered by banks affect the economy as a whole. This will become a guide to them in future deliberations

Explain briefly how you will collect each type of data– such as hard copy paper / digital / audio / video.

All data will be collected digitally. Questionnaire are distributed via emails and returned via same medium

State a date when you will destroy by shredding, burning or deletion your data files. Note: this should be after the award of a confirmed grade for your degree.

I will delete all data file a day after the award of my degree.

15. Check you have considered each issue below and fully explained it in your application, then put x in the box

I have identified and taken steps to control any physical, emotional or psychological risk to participants

X

I have identified and taken steps to control any cultural offence that might be caused

X

I have identified any vulnerable groups involved and taken steps to control the risks

X

I have explained how I will get permission from managers to recruit participants on their premises

X

I have made clear that no deception is involved in the study

X

I have explained the level of anonymity for participants and how it will be maintained

X

I have explained how participants will be informed and have the chance to ask questions beforehand

X

I have explained how participants may make follow up enquiries after their part in the study

X

I have explained how data will be kept secure and destroyed after the study

X

16. Role

Name

e-Signature

Date

You (Student)

Abraham Chukwu

March 3, 2022

Your Supervisor

Dr. Jane Croad

Module leader or lecturer responsible for the research ethics within your programme/ module

Alistair Benson

Supportive Material

Version and Date

Research protocol or research proposal

Participant Information Sheet

Debriefing Sheet

Consent Form

Letter of invitation

Other (such as interview schedule, questionnaires, measures: please state, and explain)

1. Title of Project:

An evaluation of the role of interest rates and its impact on the Gross Domestic Product(GDP) of emerging economies: A case study of the Nigerian financial economy

2. As this a a student project, please indicate type of course you are on by ticking/ highlighting the relevant box:

R MSc □ MA □ MBA

3. Type of study: please indicate type of study you are on by ticking/ highlighting the relevant box:

□ Involves direct involvement by human subjects

R Involves existing documents/anonymised data only.

4. Name of applicant (the student):

Abraham Chukwu

5. Your project supervisor(s)

Name(s): Dr. Jane Croad

E-mail(s): [email protected]

6. Provide a concise summary of your research project in lay terms (maximum length 150 words). What are you planning to do?

This research is intended to find out the role interest rates play in the value of the Gross Domestic Product(GDP) of Nigeria as an emerging economy. Investment, which is a a variable of GDP, is usually affected by the interest rates bank charge to borrowing customers. Usually, businesses approach banks for funds to do business and the impact of these businesses they do in seen in the GDP of the nation. One may, on the surface, say that high interest rates will dissuade these businesses from borrowing money from the banks and thus, affecting GDP negatively. So, the essence of this research is to find out how these interest rates are determined in Nigeria, how business men respond to the rates and the effect the interest rates have on their level of business activities which eventually resonates to the computation of the country’s GDP

7. Describe the sample of participants (including for example, number, age, gender).

Zenith Bank has been chosen as the case study bank in this research. There are going to be ten(5) participants. They will be all be branch managers of branches where lending is predominant. They will be three female branch heads and two male branch managers. They will all be above 35 years of age with at least ten years working experience in the bank

8. Explain concisely how you will recruit the participants (be specific).

Firstly, I will choose the branches I intend to use. Secondly, I will send an invitation letter via emails to the specific branch heads, describing what I intend to do and what is expected of them, stating also that participation is voluntary.

9. Explain concisely how you obtain informed consent from participants. You need to ensure it is easy for people to withdraw consent and tell them how.

I will send them a questionnaire consent form with a tick box to signify consent. There will also be a clause of comfort that they can withdraw their consent at any time if they feel its in there best interest without giving any reason, by simply sending a mail to that effect

10. Explain how you will maintain data protection. State what personal and/ or sensitive data you may collect and how this will be stored (see guidance UK General Data Protection Regulations (GDPR)).

I will be collecting sensitive data like interest rates and concessions the bank has given to her customers over the past ten years. I will also collect data about rate rejection and complains from customer. This data will be stored in a password protected worksheet to avoid access by non-authorized users

11. Explain concisely how you will offer review opportunities, a debrief or, follow up for participants (as appropriate).

I will use a debriefing statement that participants can request for a summary of my finding by leaving me email on the questionnaire that will be used to collect relevant data

12. Briefly describe each of your data collection and analysis methods (you may just have one method)

Method 1

Administration of questionnaires will be used. The questionnaire will give respondent opportunity to provide as much as information as needed. The information will be collated, sorted and analyzed as appropriate.

Method 2

Interviews will also be held over the phone to ask certain question which the questionnaire may not elaborately capture. These interviews will be scripted and analyzed as appropriate

Method 3

Method 4

13. Risks

Explain any risks that your research participants might face because of the research project (this might include psychological and reputational risks)

Describe how you will control the risks you have identified

1

The risk of breach of privacy. Most persons won’t want to be identified as research participants for obvious reasons

I will tell them that their names wont be mentioned anywhere, that instead codes or numbers will be assigned to differentiate them. Also, that they can complete the questionnaire anonymously.

2

The risk of breach of information confidentiality. Participants maybe worried about how safe their information will be with me

Data collected will be stored electronically in a password protected sheets to avoid unauthorized access

3

4

14. Other ethical considerations

Explain any risks that you may face as a researcher, and what steps you will take to control them.

The risk I know I may possibly face is physical risk such as the stress, discomfort and possibly illness as a result of the daunting responsibility of this assignment.

To control this risk,I will have ensure I don’t stay longer than necessary on the system, take breaks when necessary and get as much comfort to make sure I don’t burn out during the research period. This will include taking leave from work to accommodate this work.

Explain briefly any benefits that your research participants may gain from participation.

My research participant will eventually understand how interest rates offered by banks affect the economy as a whole. This will become a guide to them in future deliberations

Explain briefly how you will collect each type of data– such as hard copy paper / digital / audio / video.

All data will be collected digitally. Questionnaire are distributed via emails and returned via same medium

State a date when you will destroy by shredding, burning or deletion your data files. Note: this should be after the award of a confirmed grade for your degree.

I will delete all data file a day after the award of my degree.

15. Check you have considered each issue below and fully explained it in your application, then put x in the box

I have identified and taken steps to control any physical, emotional or psychological risk to participants

X

I have identified and taken steps to control any cultural offence that might be caused

X

I have identified any vulnerable groups involved and taken steps to control the risks

X

I have explained how I will get permission from managers to recruit participants on their premises

X

I have made clear that no deception is involved in the study

X

I have explained the level of anonymity for participants and how it will be maintained

X

I have explained how participants will be informed and have the chance to ask questions beforehand

X

I have explained how participants may make follow up enquiries after their part in the study

X

I have explained how data will be kept secure and destroyed after the study

X

16. Role

Name

e-Signature

Date

You (Student)

Abraham Chukwu

March 3, 2022

Your Supervisor

Dr. Jane Croad

Module leader or lecturer responsible for the research ethics within your programme/ module

Alistair Benson

Supportive Material

Version and Date

Research protocol or research proposal

Participant Information Sheet

Debriefing Sheet

Consent Form

Letter of invitation

Other (such as interview schedule, questionnaires, measures: please state, and explain)