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Article
Publication date: 19 February 2024

Tauqeer Saleem, Ussama Yaqub and Salma Zaman

The present study distinguishes itself by pioneering an innovative framework that integrates key elements of prospect theory and the fundamental principles of electronic word of…

Abstract

Purpose

The present study distinguishes itself by pioneering an innovative framework that integrates key elements of prospect theory and the fundamental principles of electronic word of mouth (EWOM) to forecast Bitcoin/USD price fluctuations using Twitter sentiment analysis.

Design/methodology/approach

We utilized Twitter data as our primary data source. We meticulously collected a dataset consisting of over 3 million tweets spanning a nine-year period, from 2013 to 2022, covering a total of 3,215 days with an average daily tweet count of 1,000. The tweets were identified by utilizing the “bitcoin” and/or “btc” keywords through the snscrape python library. Diverging from conventional approaches, we introduce four distinct variables, encompassing normalized positive and negative sentiment scores as well as sentiment variance. These refinements markedly enhance sentiment analysis within the sphere of financial risk management.

Findings

Our findings highlight the substantial impact of negative sentiments in driving Bitcoin price declines, in contrast to the role of positive sentiments in facilitating price upswings. These results underscore the critical importance of continuous, real-time monitoring of negative sentiment shifts within the cryptocurrency market.

Practical implications

Our study holds substantial significance for both risk managers and investors, providing a crucial tool for well-informed decision-making in the cryptocurrency market. The implications drawn from our study hold notable relevance for financial risk management.

Originality/value

We present an innovative framework combining prospect theory and core principles of EWOM to predict Bitcoin price fluctuations through analysis of Twitter sentiment. Unlike conventional methods, we incorporate distinct positive and negative sentiment scores instead of relying solely on a single compound score. Notably, our pioneering sentiment analysis framework dissects sentiment into separate positive and negative components, advancing our comprehension of market sentiment dynamics. Furthermore, it equips financial institutions and investors with a more detailed and actionable insight into the risks associated not only with Bitcoin but also with other assets influenced by sentiment-driven market dynamics.

Details

The Journal of Risk Finance, vol. 25 no. 3
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 15 June 2023

Abena Owusu and Aparna Gupta

Although risk culture is a key determinant for an effective risk management, identifying the risk culture of a firm can be challenging due to the abstract concept of culture. This…

Abstract

Purpose

Although risk culture is a key determinant for an effective risk management, identifying the risk culture of a firm can be challenging due to the abstract concept of culture. This paper proposes a novel approach that uses unsupervised machine learning techniques to identify significant features needed to assess and differentiate between different forms of risk culture.

Design/methodology/approach

To convert the unstructured text in our sample of banks' 10K reports into structured data, a two-dimensional dictionary for text mining is built to capture risk culture characteristics and the bank's attitude towards the risk culture characteristics. A principal component analysis (PCA) reduction technique is applied to extract the significant features that define risk culture, before using a K-means unsupervised learning to cluster the reports into distinct risk culture groups.

Findings

The PCA identifies uncertainty, litigious and constraining sentiments among risk culture features to be significant in defining the risk culture of banks. Cluster analysis on the PCA factors proposes three distinct risk culture clusters: good, fair and poor. Consistent with regulatory expectations, a good or fair risk culture in banks is characterized by high profitability ratios, bank stability, lower default risk and good governance.

Originality/value

The relationship between culture and risk management can be difficult to study given that it is hard to measure culture from traditional data sources that are messy and diverse. This study offers a better understanding of risk culture using an unsupervised machine learning approach.

Details

International Journal of Managerial Finance, vol. 20 no. 2
Type: Research Article
ISSN: 1743-9132

Keywords

Open Access
Article
Publication date: 29 February 2024

Mehroosh Tak, Kirsty Blair and João Gabriel Oliveira Marques

High levels of child obesity alongside rising stunting and the absence of a coherent food policy have deemed UK’s food system to be broken. The National Food Strategy (NFS) was…

Abstract

Purpose

High levels of child obesity alongside rising stunting and the absence of a coherent food policy have deemed UK’s food system to be broken. The National Food Strategy (NFS) was debated intensely in media, with discussions on how and who should fix the food system.

Design/methodology/approach

Using a mixed methods approach, the authors conduct framing analysis on traditional media and sentiment analysis of twitter reactions to the NFS to identify frames used to shape food system policy interventions.

Findings

The study finds evidence that the media coverage of the NFS often utilised the tropes of “culture wars” shaping the debate of who is responsible to fix the food system – the government, the public or the industry. NFS recommendations were portrayed as issues of free choice to shift the debate away from government action correcting for market failure. In contrast, the industry was showcased as equipped to intervene on its own accord. Dietary recommendations made by the NFS were depicted as hurting the poor, painting a picture of helplessness and loss of control, while their voices were omitted and not represented in traditional media.

Social implications

British media’s alignment with free market economic thinking has implications for food systems reform, as it deters the government from acting and relies on the invisible hand of the market to fix the system. Media firms should move beyond tropes of culture wars to discuss interventions that reform the structural causes of the UK’s broken food systems.

Originality/value

As traditional media coverage struggles to capture the diversity of public perception; the authors supplement framing analysis with sentiment analysis of Twitter data. To the best of our knowledge, no such media (and social media) analysis of the NFS has been conducted. The paper is also original as it extends our understanding of how media alignment with free market economic thinking has implications for food systems reform, as it deters the government from acting and relies on the invisible hand of the market to fix the system.

Details

British Food Journal, vol. 126 no. 13
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 8 August 2023

Syed Faisal Shah

This paper has analysed the impact of cultural dimensions, investor sentiment and uncertainty on bank stock returns. Also, the study examined the influences of the interaction…

Abstract

Purpose

This paper has analysed the impact of cultural dimensions, investor sentiment and uncertainty on bank stock returns. Also, the study examined the influences of the interaction between cultural dimensions and individual (private) sentiment (investor sentiment).

Design/methodology/approach

To meet the study's objectives, a two-step generalised method of moments estimator was applied to the study sample, which included 105 banks in the nine Middle East and North African region countries between 2010 and 2020.

Findings

The cultural dimensions of individualism and masculinity were found to have a positive and significant effect on banks' buy and hold stock return (BUH). At the same time, power distance and uncertainty avoidance were discovered to have negative effects. Besides, the findings revealed that the interactions of power distance, individual sentiment and uncertainty avoidance had positive and significant relationships with banks' BUH. However, individualism, individual sentiment and masculinity had inverse relationships with banks' BUH. Furthermore, the findings revealed that investor sentiment positively influenced banks' BUH. Finally, uncertainty influenced banks' BUH stock returns positively.

Research limitations/implications

Important implications for participants in the financial sector and governments may be learnt from this study's conclusions. Due to cultural biases, this study's findings suggested that investors overreact in the stock market.

Originality/value

Additionally, this research comprises one of the few studies that have overviewed the link between classical and behavioural finance in MENA countries with distinctive cultural characteristics.

Details

Journal of Economic Studies, vol. 51 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 16 August 2022

Jung Ran Park, Erik Poole and Jiexun Li

The purpose of this study is to explore linguistic stylometric patterns encompassing lexical, syntactic, structural, sentiment and politeness features that are found in…

Abstract

Purpose

The purpose of this study is to explore linguistic stylometric patterns encompassing lexical, syntactic, structural, sentiment and politeness features that are found in librarians’ responses to user queries.

Design/methodology/approach

A total of 462 online texts/transcripts comprising answers of librarians to users’ questions drawn from the Internet Public Library were examined. A Principal Component Analysis, which is a data reduction technique, was conducted on the texts and transcripts. Data analysis illustrates the three principal components that predominantly occur in librarians’ answers: stylometric richness, stylometric brevity and interpersonal support.

Findings

The results of the study have important implications in digital information services because stylometric features such as lexical richness, structural clarity and interpersonal support may interplay with the degree of complexity of user queries, the (a)synchronous communication mode, application of information service guideline and manuals and overall characteristics and quality of a given digital information service. Such interplay may bring forth a direct impact on user perceptions and satisfaction regarding interaction with librarians and the information service received through the computer-mediated communication channel.

Originality/value

To the best of the authors’ knowledge, the stylometric features encompassing lexical, syntactic, structural, sentiment and politeness using Principal Component Analysis have not been explored in digital information/reference services. Thus, there is an emergent need to explore more fully how linguistic stylometric features interplay with the types of user queries, the asynchronous online communication mode, application of information service guidelines and the quality of a particular digital information service.

Details

Global Knowledge, Memory and Communication, vol. 73 no. 3
Type: Research Article
ISSN: 2514-9342

Keywords

Article
Publication date: 16 February 2024

Mengyang Gao, Jun Wang and Ou Liu

Given the critical role of user-generated content (UGC) in e-commerce, exploring various aspects of UGC can aid in understanding user purchase intention and commodity…

Abstract

Purpose

Given the critical role of user-generated content (UGC) in e-commerce, exploring various aspects of UGC can aid in understanding user purchase intention and commodity recommendation. Therefore, this study investigates the impact of UGC on purchase decisions and proposes new recommendation models based on sentiment analysis, which are verified in Douban, one of the most popular UGC websites in China.

Design/methodology/approach

After verifying the relationship between various factors and product sales, this study proposes two models, collaborative filtering recommendation model based on sentiment (SCF) and hidden factors topics recommendation model based on sentiment (SHFT), by combining traditional collaborative filtering model (CF) and hidden factors topics model (HFT) with sentiment analysis.

Findings

The results indicate that sentiment significantly influences purchase intention. Furthermore, the proposed sentiment-based recommendation models outperform traditional CF and HFT in terms of mean absolute error (MAE) and root mean square error (RMSE). Moreover, the two models yield different outcomes for various product categories, providing actionable insights for organizers to implement more precise recommendation strategies.

Practical implications

The findings of this study advocate the incorporation of UGC sentimental factors into websites to heighten recommendation accuracy. Additionally, different recommendation strategies can be employed for different products types.

Originality/value

This study introduces a novel perspective to the recommendation algorithm field. It not only validates the impact of UGC sentiment on purchase intention but also evaluates the proposed models with real-world data. The study provides valuable insights for managerial decision-making aimed at enhancing recommendation systems.

Details

Industrial Management & Data Systems, vol. 124 no. 4
Type: Research Article
ISSN: 0263-5577

Keywords

Open Access
Article
Publication date: 13 March 2024

Tjaša Redek and Uroš Godnov

The Internet has changed consumer decision-making and influenced business behaviour. User-generated product information is abundant and readily available. This paper argues that…

Abstract

Purpose

The Internet has changed consumer decision-making and influenced business behaviour. User-generated product information is abundant and readily available. This paper argues that user-generated content can be efficiently utilised for business intelligence using data science and develops an approach to demonstrate the methods and benefits of the different techniques.

Design/methodology/approach

Using Python Selenium, Beautiful Soup and various text mining approaches in R to access, retrieve and analyse user-generated content, we argue that (1) companies can extract information about the product attributes that matter most to consumers and (2) user-generated reviews enable the use of text mining results in combination with other demographic and statistical information (e.g. ratings) as an efficient input for competitive analysis.

Findings

The paper shows that combining different types of data (textual and numerical data) and applying and combining different methods can provide organisations with important business information and improve business performance.

Research limitations/implications

The paper shows that combining different types of data (textual and numerical data) and applying and combining different methods can provide organisations with important business information and improve business performance.

Originality/value

The study makes several contributions to the marketing and management literature, mainly by illustrating the methodological advantages of text mining and accompanying statistical analysis, the different types of distilled information and their use in decision-making.

Details

Kybernetes, vol. 53 no. 13
Type: Research Article
ISSN: 0368-492X

Keywords

Open Access
Article
Publication date: 16 April 2024

Bernd F. Reitsamer, Nicola E. Stokburger-Sauer and Janina S. Kuhnle

Effective customer journey design (ECJD) is considered a key variable in customer experience management and an essential source of brand meaning and pro-brand behavior. Although…

Abstract

Purpose

Effective customer journey design (ECJD) is considered a key variable in customer experience management and an essential source of brand meaning and pro-brand behavior. Although previous research has confirmed its importance for driving brand attitudes and loyalty, the role of consumer-brand identification as a social identity-based influence in this relationship has not yet been discussed. Drawing on construal level and social identity theories, this paper aims to investigate whether effective journeys and the resulting overall journey experience are equally powerful in driving brand loyalty among customers with different levels of consumer-brand identification.

Design/methodology/approach

The present article develops and tests a research model using data from the European and US service sectors (N = 1,454) to investigate how and when ECJD affects service brand loyalty.

Findings

Across two cultural contexts, four service industries and 33 service brands, the results reveal that ECJD is a crucial driver of service brand loyalty for customers with low consumer-brand identification. Moreover, the findings show that different aspects of journey effectiveness positively impact the valence of customers’ experience related to those journeys – a process that is ultimately decisive for their brand loyalty.

Originality/value

This study is unique because it generates theoretical and practical knowledge by combining the literature streams of customer journey design, customer experience and branding. Furthermore, this work demonstrates that consumer-brand identification is a critical boundary condition to be considered in the relationship between ECJD and brand loyalty in services.

Details

Journal of Service Management, vol. 35 no. 6
Type: Research Article
ISSN: 1757-5818

Keywords

Article
Publication date: 1 November 2023

Juan Yang, Zhenkun Li and Xu Du

Although numerous signal modalities are available for emotion recognition, audio and visual modalities are the most common and predominant forms for human beings to express their…

Abstract

Purpose

Although numerous signal modalities are available for emotion recognition, audio and visual modalities are the most common and predominant forms for human beings to express their emotional states in daily communication. Therefore, how to achieve automatic and accurate audiovisual emotion recognition is significantly important for developing engaging and empathetic human–computer interaction environment. However, two major challenges exist in the field of audiovisual emotion recognition: (1) how to effectively capture representations of each single modality and eliminate redundant features and (2) how to efficiently integrate information from these two modalities to generate discriminative representations.

Design/methodology/approach

A novel key-frame extraction-based attention fusion network (KE-AFN) is proposed for audiovisual emotion recognition. KE-AFN attempts to integrate key-frame extraction with multimodal interaction and fusion to enhance audiovisual representations and reduce redundant computation, filling the research gaps of existing approaches. Specifically, the local maximum–based content analysis is designed to extract key-frames from videos for the purpose of eliminating data redundancy. Two modules, including “Multi-head Attention-based Intra-modality Interaction Module” and “Multi-head Attention-based Cross-modality Interaction Module”, are proposed to mine and capture intra- and cross-modality interactions for further reducing data redundancy and producing more powerful multimodal representations.

Findings

Extensive experiments on two benchmark datasets (i.e. RAVDESS and CMU-MOSEI) demonstrate the effectiveness and rationality of KE-AFN. Specifically, (1) KE-AFN is superior to state-of-the-art baselines for audiovisual emotion recognition. (2) Exploring the supplementary and complementary information of different modalities can provide more emotional clues for better emotion recognition. (3) The proposed key-frame extraction strategy can enhance the performance by more than 2.79 per cent on accuracy. (4) Both exploring intra- and cross-modality interactions and employing attention-based audiovisual fusion can lead to better prediction performance.

Originality/value

The proposed KE-AFN can support the development of engaging and empathetic human–computer interaction environment.

Article
Publication date: 19 December 2023

Youngho Park and Dae Hee Kwak

National surveys reveal that sports fans exhibit greater support for athletes, sports teams and leagues endorsing social justice initiatives compared to the general population…

Abstract

Purpose

National surveys reveal that sports fans exhibit greater support for athletes, sports teams and leagues endorsing social justice initiatives compared to the general population, highlighting the potential of sports for positive social impact. This study investigates whether such responses are influenced by systematic biases.

Design/methodology/approach

Replicating a Nielsen national survey, two experiments explore whether biases affect support for athletes' participation in the Black Lives Matter (BLM) movement. The study also examines partisan motivated reasoning as a factor driving sports fans' support for BLM.

Findings

While avid fans display stronger endorsement of BLM compared to causal/non-sports fans, evidence suggests that systematic biases distort these responses. When sport identity becomes salient, reported support for the BLM movement becomes inflated.

Research limitations/implications

Researchers often employ self-report surveys to gauge audience perceptions of athlete activism or cause-related initiatives, particularly when assessing their impact. This study's findings indicate that this context is susceptible to SDB.

Originality/value

The study underscores the role of systematic biases in self-report surveys, particularly in socially desirable contexts. People tend to over-report “positive behavior,” leading survey participants to respond more favorably to questions that are socially desirable. Therefore, interpreting survey results with caution becomes essential when the research context is deemed socially (un)desirable. It is crucial for researchers to apply appropriate measures to identify and mitigate systematic response biases. The authors recommend that researchers adopt both procedural and statistical remedies to detect and reduce social desirability biases.

Details

International Journal of Sports Marketing and Sponsorship, vol. 25 no. 2
Type: Research Article
ISSN: 1464-6668

Keywords

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