Jegadeesh, Narasimhan; Wu, Di - In: Journal of Financial Economics 110 (2013) 3, pp. 712-729
We present a new approach for content analysis to quantify document tone. We find a significant relation between our measure of the tone of 10-Ks and market reaction for both negative and positive words. We also find that the appropriate choice of term weighting in content analysis is at least...