Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/313447 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Banking and Financial Economics (JBFE) [ISSN:] 2353-6845 [Issue:] 16 [Year:] 2021 [Pages:] 5-24
Publisher: 
University of Warsaw, Faculty of Management, Warsaw
Abstract: 
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.
Subjects: 
Textual analysis
textual sentiment
sentiment analysis
content analysis
annual general
meeting
CEO speeches
JEL: 
G12
G14
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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