METHODOLOGY OF SCIENTIFIC RESEARCH IN FINANCE

Abstract

The article explores the main aspects of the methodology of scientific research in the field of finance. The essence of the methodology of financial science is revealed as a system of principles, approaches and methods that provide scientific knowledge of financial processes, their analysis, modeling and forecasting. It is substantiated that traditional approaches in the methodology have a linear structure and determine limited effectiveness in conditions of increased exogenous and endogenous factors of influence. The study conducted a comparative analysis of traditional and modern methodological approaches to the study of financial systems. It is determined that the modern methodology of financial science is formed on the basis of a system-adaptive approach. The feasibility of integrating quantitative and qualitative methods of analysis, econometric modeling, methods of big data analysis and behavioral finance tools into the methodology of scientific research is substantiated. Traditional approaches in the methodology of scientific research are based on retrospective analysis and linear relationships. They have a limited area of study that does not take into account the growing uncertainty and volatility of financial processes. In turn, modern methodological approaches are based on the integration of econometric modeling, data analysis, the application of risk management and behavioral finance. The transformation of the methodology of financial research consists in the transition from traditional analysis to the formation of scientifically sound forecasts of the development of financial systems. The effectiveness of modern methodology is determined by the combination of quantitative and qualitative methods and its adaptability to exogenous and endogenous factors of influence. It is substantiated that the transformation of the methodology of financial research contributes to the transition from descriptive analysis of financial phenomena to the formation of a more scientifically sound and effective one. The practical significance of the results obtained lies in the possibility of their use in conducting scientific research in the field of finance and developing financial policy.