A communicative efficiency and effectiveness model for using metaphor and metonymy in financial news reporting

Abstract

Purpose

The purpose of this paper is to propose a model to increase the efficiency and effectiveness of metaphor when used in financial news media reporting.

Design/methodology/approach

Theory in Cognitive Linguistics, Conceptual Metaphor Theory and Frame Semantics are used to demonstrate metaphor’s central role shaping human thought and understanding, producing conceptual frameworks used to understand abstract concepts in not only financial news media but also all human discourse. The deontological principles of the major financial news sources are presented which demonstrate a commitment to common core principles, such as “balance” and “accuracy”, yet few consider the potential role of metaphor toward achieving them. This research presents a minimum source domain model for describing stock market phenomenon to increase “interpretation reliability” based on the concepts of communicative efficiency and effectiveness.

Findings

This research presents a model for communicative efficiency and effectiveness of metaphor and metonymy (CEEMM) in financial reporting by presenting a minimum source domain model for describing stock market phenomenon to increase “interpretation reliability” when metaphor is used in financial news media sources.

Research limitations/implications

While evidence for the role of metaphor and metonymy on behavior has been provided and in economic contexts, more research into the role that it plays in financial news media and the dynamics of how it influences consumer decisions is necessary.

Practical implications

CEEMM provides news media sources with a tool for standardizing the modes they use to semantically create and communicate knowledge of the stock market and stock market phenomenon. Reporting on stock market phenomenon will have, for the first time, objective parameters for using metaphor toward the fulfillment of journalism deontological principles.

Social implications

CEEMM has the potential to increase clarity in the metaphors used, as they require less creative exploration on the part of readers. This results in greater levels of trust in news media sources and permits news consumers to make more well-informed financial decisions, as their perceptions of events will be less subjective to creative interpretation. This research should urge news media companies to publicly declare principles for metaphor and metonymic practice in their communication of financial data.

Originality/value

The paper presents the first model for increasing the communicative efficiency and effectiveness in the use of metaphor in financial news media.

Citation

O'Mara-Shimek, M. (2015), "A communicative efficiency and effectiveness model for using metaphor and metonymy in financial news reporting", On the Horizon, Vol. 23 No. 3, pp. 216-230. https://doi.org/10.1108/OTH-06-2015-0030