Tone variation in financial news: A comparison of companies, journalists and financial analysts

2021 ◽  
pp. 026732312199952
Author(s):  
Irene Pollach ◽  
Lea Vindvad Hansen
Keyword(s):  
Financial Crisis ◽  
Financial Analysts ◽  
Empirical Support ◽  
Computer Assisted ◽  
Press Releases ◽  
Positivity Bias ◽  
Financial News ◽  
News Agencies ◽  
Before And After ◽  
Earnings Press Releases

This article reports the findings of a comparative study of the financial news produced by companies, financial analysts, financial newspapers and news agencies about the same news events, including data before and after the financial crisis. We ground this study in second-level agenda-setting, according to which news producers select substantive and evaluative attributes for the issues they cover. Using computer-assisted text analysis, we conduct pairwise comparisons of the evaluative tone of corporate quarterly earnings press releases and the corresponding analyst reports and news stories. Our overall hypothesis is that these actors produce news about the same events with an evaluative tone that furthers their own goals as well as the goals of those actors they are dependent on, which we find partial support for. We find a positivity bias in corporate earnings press releases and analyst reports, while financial journalists eliminate the corporate positivity bias, but do not add more negativity. The results also indicate differences in the tone of financial news before and after the financial crisis. Although all actors produce news in the period after the financial crisis that is less positive and less negative than before the crisis, the balance of positive and negative tone as well as relative differences among the actors suggest that news writing by financial journalists at financial newspapers and news agencies is more negative in tone after the financial crisis, thus providing also empirical support of their independence.

scholarly journals The framing and reframing of corporate financial results

2016 ◽  
Vol 21 (1) ◽  
pp. 103-119 ◽  
Author(s):  
Julian Rosenkranz ◽  
Irene Pollach
Keyword(s):  
Press Releases ◽  
Content Type ◽  
Financial News ◽  
Financial Communication ◽  
News Agencies ◽  
Corporate Earnings ◽  
Positive Statements ◽  
Earnings Releases ◽  
Earnings Press Releases

Purpose – News agencies are important stakeholders for large organizations, since the news they distribute will be adopted by other news outlets, which influence public opinion and hence corporate reputation. The purpose of this paper is to advance the understanding of how corporate earnings press releases are transformed into financial news by investigating whether the frames introduced by companies are adopted or reframed by news agencies. Design/methodology/approach – A content analysis of framing techniques in corporate earnings releases and their corresponding news-agency releases was performed, focussing on the financial figures and benchmarks presented, performance attributions, and the tonality of the texts. Findings – The findings suggest that news agencies reframe earnings releases at the textual-pragmatic level by reducing their length, using fewer financial figures, and changing the position of these figures in the texts; they increase transparency by avoiding adjusted financial figures, qualifying figures, and adding analyst assessments; and they change the tonality by down-toning positive statements and highlighting negative aspects. Originality/value – This paper makes a contribution to the field of corporate financial communication, which has not shed much light on the transformation of earnings press releases into financial news. In addition, this paper contributes to the stream of research on journalistic transformations of corporate press releases in general, which has ignored the influential role of news agencies as both manufacturers and wholesalers of news.

Dynamic Relationship between Crude Oil and Stock Prices in India: Before And After the Subprime Financial Crisis 2008

GIS Business ◽  
2019 ◽  
Vol 14 (6) ◽  
pp. 96-104
Author(s):  
P. Sakthivel ◽  
S. Rajaswaminathan ◽  
R. Renuka ◽  
N. R.Vembu
Keyword(s):  
Financial Crisis ◽  
Crude Oil ◽  
Stock Prices ◽  
Oil Prices ◽  
Energy Index ◽  
Data Set ◽  
Dynamic Relationship ◽  
Crude Oil Prices ◽  
Long Run ◽  
Before And After

This paper empirically discovered the inter-linkages between stock and crude oil prices before and after the subprime financial crisis 2008 by using Johansan co-integration and Granger causality techniques to explore both long and short- run relationships.  The whole data set of Nifty index, Nifty energy index, BSE Sensex, BSE energy index and oil prices are divided into two periods; before crisis (from February 15, 2005 to December31, 2007) and after crisis (from January 1, 2008 to December 31, 2018) are collected and analyzed. The results discovered that there is one-way causal relationship from crude oil prices to Nifty index, Nifty energy index, BSE Sensex and BSE energy index but not other way around in both periods. However, a bidirectional causality relationship between BSE Energy index and crude oil prices during post subprime financial crisis 2008. The co-integration results suggested that the absence of long run relationship between crude oil prices and market indices of BSE Sensex, BSE energy index, Nifty index and Nifty energy index before and after subprime financial crisis 2008.

News production theory and practice

Pragmatics ◽  
2008 ◽  
Vol 18 (1) ◽  
pp. 59-85 ◽  
Author(s):  
Tom Van Hout ◽  
Geert Jacobs
Keyword(s):  
Process Analysis ◽  
Theory And Practice ◽  
Computer Assisted ◽  
Press Releases ◽  
News Production ◽  
News Reports ◽  
Business News ◽  
Writing Practices ◽  
The Individual ◽  
And Control

This paper considers notions of agency, interaction and power in business news journalism. In the first part, we present a bird’s eye view of news access theory as it is reflected in selected sociological and anthropological literature on the ethnography of news production. Next, we show how these theoretical notions can be applied to the study of press releases and particularly to the linguistic pragmatic analysis of the specific social and textual practices that surround their transformation into news reports. Drawing on selected fieldwork data collected at the business desk of a major Flemish quality newspaper, we present an innovative methodology combining newsroom ethnography and computer-assisted writing process analysis which documents how a reporter discovers a story, introduces it into the newsroom, writes and reflects on it. In doing so, we put the individual journalist’s writing practices center stage, zoom in on the specific ways in which he interacts with sources and conceptualize power in terms of his dependence on press releases. Following Beeman & Peterson (2001), we argue in favor of a view of journalism as ‘interpretive practice’ and of news production as a process of entextualization involving multiple actors who struggle over authority, ownership and control.

A multifractal detrended fluctuation analysis of housing market: a role of financial crises in developed economies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Syed Ali Raza ◽  
Nida Shah ◽  
Muhammad Tahir Suleman ◽  
Md Al Mamun
Keyword(s):  
Financial Crisis ◽  
Housing Market ◽  
Market Efficiency ◽  
House Price ◽  
Fluctuation Analysis ◽  
Content Type ◽  
Multifractal Detrended Fluctuation Analysis ◽  
Long Run ◽  
Before And After

Purpose This study aims to examine the house price fluctuations in G7 countries by using the multifractal detrended fluctuation analysis (MF-DFA) for the years 1970–2019. The study examined the market efficiency between the short-term and long-term in the full sample period, before and after the global financial crisis period. Design/methodology/approach This study uses the MF-DFA to analyze house price fluctuations. Findings The findings confirmed that the housing market series are multifractal. Furthermore, all the markets showed long-term persistence in both the short and long-term. The USA is identified as the most persistent house market in the short run and Japan in the long run. Moreover, in terms of efficiency, Canada is identified as the most efficient house market in the long run and the UK in the short run. Finally, the result of before and after the financial crisis period is consistent with the full sample result. Originality/value The contribution of this study in the literature is fourfold. This is the first study that has examined the house prices efficiency by using the MF-DFA technique given by Kantelhardt et al. (2002). Previously, the house market prices and efficiency has been investigated using generalized Hurst exponent (Liu et al., 2019), Quantile Regression Approach (Chae and Bera, 2019; Tiwari et al., 2019) but no study to the best of the knowledge has been done that has used the MF-DFA technique on the housing market. Second, this is the first study that has focused on the house markets of G7 countries. Third, this study explores the house market efficiency by dividing the market into two periods i.e. before and after the financial crisis. The study strives to investigate if the financial crisis determines the change in the degree of market efficiency or not. Finally, the study gives valuable insights to the investors that will help them in their investment decisions.

How Gaming Applications of CALL influence inputs of English Grammar: كيف تؤثر تطبيقات ألعاب الكمبيوتر المساعدة في تعليم اللغة على مدخلات قواعد اللغة الإنجليزية

2020 ◽  
Vol 4 (47) ◽  
Author(s):  
Atif Obaid M Alsuhaymi
Keyword(s):  
Language Learning ◽  
English Language ◽  
Language Education ◽  
Computer Assisted ◽  
Computer Assisted Language Learning ◽  
English Language Education ◽  
Full Sample ◽  
English Grammar ◽  
Before And After ◽  
Post Test

The present study aims to research the influences of games through Computer-Assisted Language Learning (CALL) compared to Teacher-Centered Instruction (TCI) on teenagers' achievement in English language education in Saudi Arabia. Two groups of students tested, before and after instruction, so to determine success of the application of pedagogies. The full sample consisted of 22 teenagers, divided randomly, into two equal groups. The first group was the control (TDI) group, which used a school textbook. The second group was the experimental group (CALL), which given a CALL application, based on the game ‘Kahoot.’ Two types of tests were conducted, a pre-test and a post-test, at each of two periods for each group. The pre-test administered before instruction, and the post-test taken after the instructional period. Findings indicate that both groups increased their proficiencies with English object pronouns. However, performance on the post-test by the experimental (CALL) group significantly exceeded that of the control (TCI) group.

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