The questionnaire method is a cost-effective and widely used research technique that consists of a series of

questions asked to respondents to obtain statistically useful information about a given topic. It is flexible enough
to reveal data in respondents' own words and language, and can be made extremely scientific by framing
questions for advanced quantitative measurement and analysis. The questionnaire design requires a structured
and logical path to make the effort of collecting information meaningful.

There are various criteria for designing a questionnaire, such as converting research objectives into clear
questions, engaging the respondent, encouraging meaningful responses, and being self-explanatory and not
confusing. There are many different types of questionnaires available to researchers, with the degree of structure
and concealment being the most frequently used criteria. Most research studies use a mixed format, discussing
them as a two-by-two matrix.

In summary, the questionnaire method is a flexible and cost-effective method for collecting primary data, but it
is not the best method for all research studies. Researchers must consider the criteria for designing
questionnaires, such as clarity, engagement, and self-explanation, to ensure a meaningful and effective data
collection process.

Questionnaires can be categorized based on their structure or method of administration. Formalized and
unconcealed questionnaires are commonly used by management researchers to understand investment behavior.
These questionnaires have a formal method of questioning but are not clear to the respondent, allowing them to
express their values, opinions, and beliefs. Non-formalized and unconcealed questionnaires allow respondents to
express themselves freely, but require skilled interpretation and higher costs, time, and effort.

The method of administration for questionnaires can be either face-to-face interaction, known as aschedule,
which combines structured and unstructured questions, or self-administered questionnaires, where the
respondent reads and records their own responses. The selection of questionnaire type depends on study
prerequisites, such as population characteristics, population spread, and the ability of the respondents to answer
the questions.