This paper looks at the information content of satisfaction scores. It is argued that the information content depends on the extent to which people adapt to living conditions in general. Using data from the German Socio-Economic Panel Study (SOEP), the estimation of a dynamic panel data model...

Several studies have indicated that textual tones in analysts' reports, a representative qualitative output of analysts' reports, possess informational value. In this study, I clarify incremental information in the report tone. I predict a report tone as holding fundamental information that...

Absorptive capacity is defined as the ability of a firm to recognize the value of new external information, assimilate it, and apply it to commercial ends. It is regarded as an important factor in both corporate innovation and general competitive advantage. My approach recognizes the...