ECB language and stock returns – A textual analysis of ECB press conferences

2021 ◽  
Vol 80 ◽  
pp. 590-604
Author(s):  
Rouven Möller ◽  
Doron Reichmann
Keyword(s):  
Stock Returns ◽  
Textual Analysis

scholarly journals Stock returns and investor sentiment: textual analysis and social media

2019 ◽  
Vol 44 (3) ◽  
pp. 458-485 ◽  
Author(s):  
Zachary McGurk ◽  
Adam Nowak ◽  
Joshua C. Hall
Keyword(s):  
Social Media ◽  
Stock Returns ◽  
Textual Analysis ◽  
Investor Sentiment

Employee Flexibility, Exogenous Risk, and Firm Value

2019 ◽  
pp. 1-32 ◽  
Author(s):  
Shiu-Yik Au ◽  
Ming Dong ◽  
Andreanne Tremblay
Keyword(s):  
Stock Returns ◽  
Firm Value ◽  
Textual Analysis ◽  
Policy Uncertainty ◽  
Earnings Announcement ◽  
Exogenous Shocks ◽  
Announcement Returns ◽  
Workforce Flexibility ◽  
External Risk ◽  
High Flexibility

We hypothesize that employee flexibility enhances firm value by helping firms respond to exogenous shocks. We estimate employee-flexibility scores through textual analysis of online job reviews, and we find that a high flexibility score leads to superior stock returns for firms exposed to external risk. During 2011–2017, the value-weighted hedge portfolio formed on employee flexibility earned a 5-factor annualized alpha of 9.5% during periods of high policy uncertainty. Earnings-announcement returns also suggest that investors do not fully value workforce flexibility. These results indicate that employee flexibility is a valuable corporate intangible that helps firms to manage risk during uncertain times.

scholarly journals The Economics of the Fed Put

2020 ◽  
Author(s):  
Anna Cieslak ◽  
Annette Vissing-Jorgensen
Keyword(s):  
Decision Making ◽  
Stock Market ◽  
Moral Hazard ◽  
Stock Returns ◽  
Risk Taking ◽  
Textual Analysis ◽  
Policy Makers ◽  
Primary Mechanism ◽  
Ex Post ◽  
Ex Ante

Abstract Since the mid-1990s, negative stock returns comove with downgrades to the Fed’s growth expectations and predict policy accommodations. Textual analysis of FOMC documents reveals that policy makers pay attention to the stock market. The primary mechanism is their concern with the consumption wealth effect, with a secondary role for the market predicting the economy. We find little evidence of the Fed overreacting to the market in an ex post sense (reacting beyond the market’s effect on growth expectations). Although policy makers are aware that the Fed put could induce risk-taking, moral hazard considerations appear not to significantly affect their decision-making ex ante.

Freedom Indices and Capital Asset Pricing Model: Some Malaysian Evidence

2020 ◽  
Vol 1 (1) ◽  
pp. 1-21
Author(s):  
Ying Tay Lee ◽  
Devinaga Rasiah ◽  
Ming Ming Lai
Keyword(s):  
Human Rights ◽  
Asset Pricing ◽  
Stock Returns ◽  
Firm Size ◽  
Explanatory Power ◽  
Least Square ◽  
Press Freedom ◽  
Capital Asset Pricing ◽  
Capital Asset ◽  
Cross Sectional

Human rights and fundamental freedoms such as economic, political, and press freedoms vary widely from country to country. It creates opportunity and risk in investment decisions. Thus, this study is carried out to examine if the explanatory power of the model for capital asset pricing could be improved when these human rights movement indices are included in the model. The sample for this study comprises of 495 stocks listed in Bursa Malaysia, covering the sampling period from 2003 to 2013. The model applied in this study employed the pooled ordinary least square regression estimation. In addition, the robustness of the model is tested by using firm size as a controlled variable. The findings show that market beta as well as the economic and press freedom indices could explain the cross-sectional stock returns of the Malaysian stock market. By controlling the firm size, it adds marginally to the explanation of the extended CAP model which incorporated economic, political, and press freedom indices.

The Role of Muslim Women in Civil Society In Promoting Values and Principles for Building Peace: Action Guide from The Qur’ān

Sains Insani ◽  
2019 ◽  
Vol 4 (1) ◽  
pp. 30-36
Author(s):  
Che Amnah Bahari ◽  
Fatimah Abdullah
Keyword(s):  
Civil Society ◽  
Lifelong Learning ◽  
Significant Role ◽  
Textual Analysis ◽  
Muslim Women ◽  
Peace Building ◽  
Analysis Method ◽  
Pluralistic Society ◽  
Women And Children

The whole world, the Muslim in particular has witnessed conflicts in different areas, which have hindered the developmental efforts of the nations concerned. It should be learned that most victims of these conflicts are women and children. This article attempts to elaborate the role of Muslims Women as a crucial segment in civil society in initiating peace building through nurturing process. It maintains that the adoption of the principles and values derived from the Qur’ān and Sunnah of the Prophet is necessary as a process of lifelong learning.  Those identified values constituted the framework of this article and it adopts the textual analysis method.   This article concludes that through the implementation of those values and frameworks for peace building, women as one of the important segments of civil society are able to play significant role towards initiating peace building and promoting peaceful co-existence in pluralistic society. Abstrak: Dunia Islam khususnya telah menyaksikan konflik di pelbagai daerah yang berbeza. Konflik ini telah menghalang usaha kearah pembangunan Kawasan yang berkenaan. Kebanyakan mangsa konflik ini adalah wanita dan kanak-kanak. Artikel ini cuba untuk menghuraikan peranan wanita Islam sebagai segmen penting dalam masyarakat madani dalam membangun proses kedamaian dengan mendidik dan memupuk prinsip dan nilai murni janaan al-Qur’an. Penggunaan prinsip dan nilai yang dikutip dari ayat-ayat Qur'an dan hadis Rasulullah adalah keperluan yang mendesak sebagai wadah bagi proses pembelajaran sepanjang hayat. Nilai-nilai yang dikenal pasti merupakan rangka kerja artikel ini, dan metod yang dirujuk adalah analisis teks. Artikel ini menyimpulkan bahawa melalui pelaksanaan nilai-nilai dan kerangka kerja Islam bagi proses kedamaian, wanita Islam dalam masyarakat madani mampu memainkan peranan penting dalam memulakan pembinaan keamanan dan menggalakkan kehidupan yang harmonis, sejahtera dan saling bantu membantu dalam masyarakat majmuk.

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