Definitions of Theory and Theory-Building Related Concepts

Research Paper (postgraduate) from the year 2014 in the subject Business economics - General, Northcentral University (School of Business and Technology Management), language: English, abstract: Why theory is important for scientific investigators and business professionals? Could theorists generate theory from trial and error approach, or a good theory must follow and go beyond specific virtues? Does theory necessarily require application? Eventually, do business professionals practice real business problems without theory? Theory's precise nature involves a vigorous debate among social scientists, academics, and business professionals. The theme of the debate is embedded in different types of theory and in the scholarly views of what constitutes a good theory. In this paper, we present three views on the nature and types of theory, focus on the relationship between theory and research, and identify theoretical directions through which research can contribute to theory.

Bio: Alaa Mostafa received a Ph.D., in finance from Newford University in 2014. He also has an M.B.A, from Aspen University in 2005, and B.S., from Ain Shams University in 1986. Dr. Alaa Mostafa is an Associate Member of American Institute of Certified Public Accountants (AICPA) and holds a CPA designation which is conferred by California State Board of Accountancy, USA. Dr. Alaa Mostafa is a practitioner in the financial and business realm, specializing in managing and maintaining positive financial and strategic management conditions within domestic and multinational organizations, especially in critical situations and crises. Dr. Alaa Mostafa has been a lecturer for CPA and CMA professional certificate courses at top educational institutions. He has conducted and demonstrated extensive researches on financial analysis methods, especially on short-term liquidity measurement. Education: Ph.D., Finance, Newford University (USA), M.B.A., Aspen University (USA), and B.S., Accounting, Ain Shams University (Egypt).