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Sentiment Analysis of German Texts in Finance : Improving and Testing the BPW Dictionary

Title data

Pöferlein, Matthias:
Sentiment Analysis of German Texts in Finance : Improving and Testing the BPW Dictionary.
In: Journal of Banking and Financial Economics. Vol. 16 (2021) Issue 2 . - pp. 5-24.
ISSN 2353-6845
DOI: https://doi.org/10.7172/2353-6845.jbfe.2021.2.1

Abstract in another language

Using the dictionary-based approach to measure the sentiment of finance-related texts is primarily focused on English-speaking content. This is due to the need for domain-specific dictionaries and the primary availability of those in English. Through the contribution of Bannier et al. (2019b), the first finance-related dictionary is available for the German language. Because of the novelty of this dictionary, this paper proposes several reforms and extensions of the original word lists. Additionally, I tested multiple measurements of sentiment. I show that using the edited and extended dictionary to calculate a relative measurement of sentiment, central assumptions regarding textual analysis can be fulfilled and more significant relations between the sentiment of a speech by a CEO at the Annual General Meeting and subsequent abnormal stock returns can be calculated.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: textual analysis; textual sentiment; sentiment analysis; content analysis; annual general meeting; CEO speeches
Subject classification: JEL Classification: G12; G14
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration I, Finance and Banking Management > Chair Business Administration I, Finance and Banking Management - Univ.-Prof. Dr. Klaus Schäfer
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration I, Finance and Banking Management
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 09 Mar 2022 08:12
Last Modified: 29 Jun 2022 12:07
URI: https://eref.uni-bayreuth.de/id/eprint/68874