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Full-Text Articles in Business

Understanding Sentiment Through Context, Richard M.Crowley, M.H. Franco Wong Dec 2022

Understanding Sentiment Through Context, Richard M.Crowley, M.H. Franco Wong

Research Collection School Of Accountancy

We examine whether empirical results using text-based sentiment of U.S. annual reports depend on the underlying context, within documents, from which sentiment is measured. We construct a clause-level measure of context, showing that sentiment is driven by many different contexts and that positive and negative sentiment are driven by different contexts. We then construct context-level sentiment measures and examine whether sentiment works as expected at the context-level across four prediction problems. Our results demonstrate that document-level sentiment exhibits significant noise in prediction and suggest that document-level aggregation of sentiment leads to missed empirical nuances. The contexts driving sentiment results vary …


The Impact Of Subscription Programs On Customer Purchases, Raghu Iyengar, Young-Hoon Park, Qi Yu Dec 2022

The Impact Of Subscription Programs On Customer Purchases, Raghu Iyengar, Young-Hoon Park, Qi Yu

Research Collection Lee Kong Chian School Of Business

Subscription programs have become increasingly popular among a wide variety of retailers and marketplace platforms. Subscription programs give members access to a set of exclusive benefits for a fixed fee upfront. In this paper, we examine the causal effect of a subscription program on customer behavior. To account for self-selection and identify the individual-level treatment effects, we combine a difference-in-differences approach with a generalized random forests procedure that matches each member of the subscription program with comparable non-members. We find subscription leads to a large increase in customer purchases. The effect of subscription is economically significant, persistent over time, and …


Did Twitter Deliberately Mislead Elon Musk In His Acquisition Bid?, Mark Humphery-Jenner Jul 2022

Did Twitter Deliberately Mislead Elon Musk In His Acquisition Bid?, Mark Humphery-Jenner

Perspectives@SMU

Elon Musk has officially ended his bid to acquire Twitter on the grounds that it misled the market in its disclosures, writes UNSW Business School's Mark Humphery-Jenner


Twitter Demonstrates Why Poison Pills Are Bad For Shareholders, Mark Humphery-Jenner Apr 2022

Twitter Demonstrates Why Poison Pills Are Bad For Shareholders, Mark Humphery-Jenner

Perspectives@SMU

Twitter’s poison pill appears to be an attempt to entrench the board rather than delivering shareholder value, writes UNSW Business School's Mark Humphery-Jenner


Describing Rosé: An Embedding-Based Method For Measuring Preferences, Anirban Mukherjee, Hannah H. Chang Feb 2022

Describing Rosé: An Embedding-Based Method For Measuring Preferences, Anirban Mukherjee, Hannah H. Chang

Research Collection Lee Kong Chian School Of Business

In this paper, we present a novel preference-measurement method for experiential products and develop a novel embedding-based utility model to value product attributes and attribute-levels from participant choices between products described in (unstructured) prose.