The Experts below are selected from a list of 163506 Experts worldwide ranked by ideXlab platform
Luca Zamparelli - One of the best experts on this subject based on the ideXlab platform.
-
Average cost and marginal cost pricing in Marshall: Textual Analysis and interpretation
The European Journal of the History of Economic Thought, 2009Co-Authors: Luca ZamparelliAbstract:Abstract This paper proposes a Textual Analysis of Marshall's theory of firm pricing behavior under competitive conditions. Average cost and marginal cost pricing theories have very distinct origins as they are rooted, respectively, in the classical and marginalistic theory of competition. I analyze to what extent and under which circumstances the two theories joined in the work of Alfred Marshall; and I argue that, even though only partial evidence can be found to support the adoption of the notion of marginal cost pricing by Marshall, he developed some concepts, such as the distinction between short and long periods and the notion of quasi-rents, which turned out to be fundamental for the joint acceptance of marginal cost and average cost pricing principles by the Marshallian school.
-
average cost and marginal cost pricing in marshall Textual Analysis and interpretation
Research Papers in Economics, 2007Co-Authors: Luca ZamparelliAbstract:This paper proposes a Textual Analysis of Marshall’s theory of firm pricing behavior under competitive conditions. It considers to what extent average cost and marginal cost pricing rules characterize Marshall’s competitive partial equilibrium, and it shows that the two rules differ for origins and can be reconciled only with great difficulty in a general equilibrium framework.
Doron Reichmann - One of the best experts on this subject based on the ideXlab platform.
-
ecb language and stock returns a Textual Analysis of ecb press conferences
The Quarterly Review of Economics and Finance, 2021Co-Authors: Rouven Moller, Doron ReichmannAbstract:Abstract This paper examines the language used by central bank officials in public press conferences and how it influences stock returns in the euro area. By proposing a sentiment mining approach that accounts for grammatical and syntactical cues, a distinction is drawn between (i) the general tone, (ii) uncertainty, and (iii) constraint expressed by ECB officials. The results show that as constraining language is often used to express policy commitment, press conferences with higher fractions of constraining language are associated with positive intraday stock price movements in times of unconventional monetary policy. In addition, we conclude that in times of crises, intraday returns are more sensitive towards the general tone of ECB officials as market participants may find it harder to grasp the future path of monetary policy. In further analyses, a distinction is made between sections within the press conferences that specifically address either the monetary Analysis or the economic outlook. The results indicate that market participants interpret uncertain language in the economic outlook as a signal of expansive monetary policy decisions going forward as indicated by positive intraday stock returns. Finally, by proposing a novel rule-based approach to identify forward-looking statements of ECB press conferences, first evidence is provided in this paper that forward-looking answers given by ECB officials in the Q&A Sessions significantly affect euro area stock returns.
-
ecb language and stock returns a Textual Analysis of ecb press conferences
Social Science Research Network, 2020Co-Authors: Rouven Moller, Doron ReichmannAbstract:We examine how the language used by central bank officials in public press conferences influences stock returns in the euro area. In line with the concept of Odyssean Forward Guidance, we find that using constraining language to express policy commitment increases the effectiveness of Forward Guidance in times of unconventional monetary policy. In further Analysis, we provide strong evidence that market participants interpret higher levels of uncertain language in the economic outlook as a sign of Delphic Forward Guidance, indicated by positive intraday stock returns. In addition, we find that in a period of high economic uncertainty, tone sensitivities of financial market participants increase as they find it hard to grasp the future path of monetary policy. Finally, by proposing a novel rule-based approach to identify forward-looking statements of ECB press conferences, we provide first evidence that forward-looking statements in the answers given by ECB officials in the Q&A Sessions significantly affect Euro area stock returns.
Sanjay K Pandey - One of the best experts on this subject based on the ideXlab platform.
-
applying natural language processing capabilities in computerized Textual Analysis to measure organizational culture
Organizational Research Methods, 2019Co-Authors: Sheela Pandey, Sanjay K PandeyAbstract:We build on and extend methodological developments in computerized Textual Analysis and apply it for developing and validating a measure for the widely used concept of organizational culture. Altho...
-
applying natural language processing capabilities in computerized Textual Analysis to measure organizational culture
Social Science Research Network, 2017Co-Authors: Sheela Pandey, Sanjay K PandeyAbstract:We build on and extend methodological developments in computerized Textual Analysis and apply it for developing and validating a measure for the widely used concept of organizational culture. Although the organizational culture concept is widely used in a variety of domains of management scholarship, its measurement is primarily based on survey questionnaires. In this study, we extend computerized Textual Analysis by introducing the capabilities of natural language processing (NLP) capabilities. NLP capabilities are artificial intelligence techniques for Textual Analysis that make it possible to conduct Textual Analysis at the multiple word level. We follow recommendations for establishing construct validity and demonstrate that the measure of organizational culture dimensions outlined in the study has content validity, external validity, dimensionality and predictive validity.
Rouven Moller - One of the best experts on this subject based on the ideXlab platform.
-
ecb language and stock returns a Textual Analysis of ecb press conferences
The Quarterly Review of Economics and Finance, 2021Co-Authors: Rouven Moller, Doron ReichmannAbstract:Abstract This paper examines the language used by central bank officials in public press conferences and how it influences stock returns in the euro area. By proposing a sentiment mining approach that accounts for grammatical and syntactical cues, a distinction is drawn between (i) the general tone, (ii) uncertainty, and (iii) constraint expressed by ECB officials. The results show that as constraining language is often used to express policy commitment, press conferences with higher fractions of constraining language are associated with positive intraday stock price movements in times of unconventional monetary policy. In addition, we conclude that in times of crises, intraday returns are more sensitive towards the general tone of ECB officials as market participants may find it harder to grasp the future path of monetary policy. In further analyses, a distinction is made between sections within the press conferences that specifically address either the monetary Analysis or the economic outlook. The results indicate that market participants interpret uncertain language in the economic outlook as a signal of expansive monetary policy decisions going forward as indicated by positive intraday stock returns. Finally, by proposing a novel rule-based approach to identify forward-looking statements of ECB press conferences, first evidence is provided in this paper that forward-looking answers given by ECB officials in the Q&A Sessions significantly affect euro area stock returns.
-
ecb language and stock returns a Textual Analysis of ecb press conferences
Social Science Research Network, 2020Co-Authors: Rouven Moller, Doron ReichmannAbstract:We examine how the language used by central bank officials in public press conferences influences stock returns in the euro area. In line with the concept of Odyssean Forward Guidance, we find that using constraining language to express policy commitment increases the effectiveness of Forward Guidance in times of unconventional monetary policy. In further Analysis, we provide strong evidence that market participants interpret higher levels of uncertain language in the economic outlook as a sign of Delphic Forward Guidance, indicated by positive intraday stock returns. In addition, we find that in a period of high economic uncertainty, tone sensitivities of financial market participants increase as they find it hard to grasp the future path of monetary policy. Finally, by proposing a novel rule-based approach to identify forward-looking statements of ECB press conferences, we provide first evidence that forward-looking statements in the answers given by ECB officials in the Q&A Sessions significantly affect Euro area stock returns.
Sheela Pandey - One of the best experts on this subject based on the ideXlab platform.
-
applying natural language processing capabilities in computerized Textual Analysis to measure organizational culture
Organizational Research Methods, 2019Co-Authors: Sheela Pandey, Sanjay K PandeyAbstract:We build on and extend methodological developments in computerized Textual Analysis and apply it for developing and validating a measure for the widely used concept of organizational culture. Altho...
-
applying natural language processing capabilities in computerized Textual Analysis to measure organizational culture
Social Science Research Network, 2017Co-Authors: Sheela Pandey, Sanjay K PandeyAbstract:We build on and extend methodological developments in computerized Textual Analysis and apply it for developing and validating a measure for the widely used concept of organizational culture. Although the organizational culture concept is widely used in a variety of domains of management scholarship, its measurement is primarily based on survey questionnaires. In this study, we extend computerized Textual Analysis by introducing the capabilities of natural language processing (NLP) capabilities. NLP capabilities are artificial intelligence techniques for Textual Analysis that make it possible to conduct Textual Analysis at the multiple word level. We follow recommendations for establishing construct validity and demonstrate that the measure of organizational culture dimensions outlined in the study has content validity, external validity, dimensionality and predictive validity.
