Textual Analysis in Accounting and Finance: A Survey

• 成果类型: Article
• 署名作者: Loughran, Tim; Mcdonald, Bill
• 署名单位: University of Notre Dame
• 刊物名称: JOURNAL OF ACCOUNTING RESEARCH
• ISSN/ISSBN: 0021-8456
• DOI: 10.1111/1475-679X.12123
• 发表日期: 2016
• 页码: 1187-1230
• 关键词: ANNUAL-REPORT READABILITY; information-content; CONFERENCE CALLS; CURRENT EARNINGS; press releases; Media slant; disclosure; Sentiment; tone; volatility

摘要

Relative to quantitative methods traditionally used in accounting and finance, textual analysis is substantially less precise. Thus, understanding the art is of equal importance to understanding the science. In this survey, we describe the nuances of the method and, as users of textual analysis, some of the tripwires in implementation. We also review the contemporary textual analysis literature and highlight areas of future research.