In signaling the validation of the interpretation of the outcomes of the analysis, it is
important to recognize both the generative potential of the research, in terms of opening
new questions and possibilities, and the scope for transforming actions,
based on a cooperative approach between the researcher and the participants—as illustrated
by our study. The process of theme identification may also involve discovery of themes
missing from the text, that is, what participants do not mention—contrary perhaps to what
intuition and/or prior research and experience would suggest they might. In this study, one
such missing theme was ‘‘the deal,’’ yet intuitively one might have expected the nature of
the deal struck between applicants for, and suppliers of, finance to have influenced participants’
perceptions of the effectiveness and ineffectiveness of such encounters. Data analysis
revealed that participants appeared to be influenced less by the substance of the deal and
more by their perceptions and evaluations of the interactions between themselves and the
actual/potential suppliers of finance. This finding raises issues for further research and has
practical implications in terms of the self-reflexive behavior of both women business owners
and financial institutions and intermediaries. Moreover, it allows the researchers to
clearly evidence that the research addresses issues of practical relevance through design,
analysis, and interpretation, and thereby passes the ‘‘so what?’’ test.
Using the guidance set out in Table 1, interpretivist researchers are
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