Fritzsch, Simon; Scharner, Philipp; Weiß, Gregor - In: Journal of Risk and Insurance 88 (2021) 3, pp. 529-567
We analyze the relation between digitalization and the market value of US insurance companies. To create a text‐based measure that captures the extent to which insurers digitalize, we apply an unsupervised machine learning algorithm—Latent Dirichlet Allocation—to their annual reports. We...