Do words reveal the latent truth? Identifying communication patterns of corporate losers

Rahul Kumar, Soumya Guha Deb and Shubhadeep Mukherjee

Journal of Behavioral and Experimental Finance, 2020, vol. 26, issue C

Abstract: Identifying communication patterns of narratives in disclosed financial statements is assuming importance in recent times. This paper explores the communication patterns through various channels of loser firms which have witnessed prolonged underperformance and compare the same w.r.t their peers from the same industry. We perform sentiment analysis in published communication of these firms, to scrutinize their tone and emotional-valence. Our findings suggest that loser firms have a negative mood while conveying earnings vis-à-vis their comparable firms.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:beexfi:v:26:y:2020:i:c:s221463501930228x

DOI: 10.1016/j.jbef.2020.100291

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