What's in the Words? Development and Validation of a Multidimensional Dictionary for CSR and Application Using Prospectuses

Pencle, Nadra; Mălăescu, Irina

doi:10.2308/jeta-51615

Cited by 72 publications

(79 citation statements)

References 37 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…We used CAT Scanner (McKenny, Short, & Newman, ) to measure strategic EO rhetoric. CAT Scanner has been used to measure constructs of interest to management research such as corporate social responsibility (e.g., Pencle & Mǎlǎescu, ) and entrepreneurial orientation (e.g., McKenny et al, forthcoming; Zachary, Payne, Moore, & Sexton, ). Further, because our revised dictionaries include phrases (e.g., “take a chance”), CAT Scanner provides a valuable alternative to other tools that do not enable researchers to include phrases in custom dictionaries (McKenny et al, forthcoming).…”

Section: Methodsmentioning

confidence: 99%

Strategic entrepreneurial orientation: Configurations, performance, and the effects of industry and time

McKenny¹,

Short

Ketchen

et al. 2018

Strategic Entrepreneurship

125

View full text Add to dashboard Cite

Research Summary: Strategic entrepreneurship research has sought to understand how firms' entrepreneurial behaviors and decision making influence firm performance. Generally this research has treated entrepreneurial orientation (EO) as consisting of dimensions that independently influence firm performance. This approach conflicts with conceptual and empirical work suggesting that managers embrace complex knowledge structures. Taking a configurational perspective that accounts for relations among the EO dimensions, we analyze a longitudinal sample of 399 firms in four technology industries to reveal how different EO patterns—identified using fuzzy‐set qualitative comparative analysis—lead to higher or lower firm performance based on industrial‐, temporal‐, and measurement‐related factors. Managerial Summary: A firm's entrepreneurial orientation consists of its relative emphasis on autonomy, competitive aggressiveness, innovativeness, proactiveness, and risk taking. Do companies intentionally emphasize different aspects of entrepreneurship? Our analysis suggests that they do and that different patterns developed by companies have implications for their performance. Our work suggests managers should develop a profile of entrepreneurial dimensions that fit well in their industry. For instance, firms in growing yet stable industries tend to perform well when they emphasize autonomy and competitive aggressiveness and focus less on innovativeness, proactiveness, and risk taking. In contrast, this approach would not lead to high performance in more hostile industries where innovativeness is essential.

show abstract

Section: Methodsmentioning

confidence: 99%

Strategic entrepreneurial orientation: Configurations, performance, and the effects of industry and time

McKenny¹,

Short

Ketchen

et al. 2018

Strategic Entrepreneurship

125

View full text Add to dashboard Cite

show abstract

“…Since we have focused on modeling sentiment in managerial communication for the domain of corporate sustainability, we used specific word lists for each of its categories, i.e., social, economic, and environmental. In the case of CSR, we used a previously developed word list of Pencle and Malaescu [12], which is freely available online (https://provalisresearch.com/Download/CSR.zip) and it was utilized effectively to analyze IPO prospectuses in order to predict components of IPO pricing [12]. In other words, this word list was used to measure companies' approach to CSR.…”

Section: Methodsmentioning

confidence: 99%

“…Both single words and word phrases were considered in the word lists. Specifically, to develop the word lists, we followed the guidance provided in previous studies [12,80]. The word lists are based on several publicly available sustainable development glossaries, such as that of the United Nations (undp.org) and Environmental Protection Agency (epa.ie).…”

Section: Methodsmentioning

confidence: 99%

See 1 more Smart Citation

Sustainability and Corporate Social Responsibility in the Text of Annual Reports—The Case of the IT Services Industry

Myšková

Hájek

2018

Sustainability

View full text Add to dashboard Cite

Annual reports are an important source of qualitative information about a company's strategic areas, including sustainability. However, previous work on sustainability assessment has been limited to quantitative indicators that are difficult to obtain. Here, we address this issue by analyzing a company's strategic documents, with the specific aim of demonstrating the role of sustainability and social responsibility in the text of the annual reports of companies in the IT services industry. We demonstrate that this information is a significant determinant of future economic outcomes. Specifically, here we evaluate sentiment in managerial communication in the area of sustainable business by using collocation analysis of topic and sentiment word lists. Several domain-specific word lists were used for each category monitored. Specifically, Loughran and McDonald's word list was used to measure sentiment in the context of corporate social responsibility and sustainability. The word list that was developed by Pencle and Malaescu was used for CSR, while novel word lists are proposed for sustainability topics. The results of experiments show that the sentiment of sustainability topics (environmental and social in particular) in the annual reports may be a significant indicator of future profitability and thus represent an important information for corporate stakeholders.Sustainability 2018, 10, 4119 also be conducted, owing to their positive effect on corporate financial performance (CFP) [4]. Chandler [48] analyzed more than 20 case studies to illustrate issues related to CSR, including financial, organizational, and societal issues, and also highlighted the importance of strategic CSR. This finding was also supported by the empirical evidence in [49], suggesting that a lack of success in CSR was a major cause of the financial crisis.The importance of CSR communication was highlighted and a conceptual framework for this communication was developed in [50]. It is argued that such communication is important both in the short-term (supporting stakeholders' favorable behavior and attitudes) as well as in the longer term (affecting stakeholder-company relationships and company's image). In contrast, the lack of the communication is considered to be a barrier to maximize financial benefits from CSR activities. Several communication channels have been proposed for corporate sustainability and CSR in [50], such as annual reports, companies' websites, CSR reports, or advertising. A recent review of literature on CSR communication can be found in [1], identifying legitimacy theory as the dominant theory in examining CSR communication. Companies use their communication channels to manage perceived CSR legitimacy by showing that their activities are appropriate and desirable. Another survey that was performed in [51] finds that minimal releases, such as annual reports and websites, are increasingly preferable communication channels, rather than advertising or company's releases. However, it should also be noted that not all the corp...

show abstract

“…Linguists and economists have done massive research to create and compile thematic dictionaries in 2010-2018 based on various materials and scientific sources that allow to cluster words and spoken phrases in specific topics. Among the modern and most authoritative dictionaries in the scientific community, it seems possible to highlight the Corporate Social Responsibility Words dictionary (Pencle and Mălăescu, 2016) that corresponds to Table 2 FOG Index distribution (level of text complexity).…”

Section: Socialsent T Socialwords T Totwords Tmentioning

confidence: 99%

The influence of conference calls’ semantic characteristics on the company market performance: Text analysis

Fyodorova¹,

Sayakhov²,

Demin³

et al. 2019

RUJEC

View full text Add to dashboard Cite

The purpose of the study is to find out the influence of semantic (emotional coloring, length and complexity of the text) and thematic features (environmental, corporate-social and legal context) of conference calls with market analysts and investors on future company performance (CAR) and analysts’ recommendation for the share. The empirical framework of the research includes annual conference calls of public companies on the Moscow (MOEX) and London Stock Exchanges (LSE) from 2015 to 2019. The research methodology is based on the semantic analysis of the call text by using the linguistic dictionaries NRC 2010 and Corporate Social Responsibility 2016. The results of the study illustrate the significant impact of textual features of the conference call (the general tone of the call, the tone of management and the negative tone of analysts, the length and complexity of the text) on the abnormal stock returns (for 3, 14, 30 days). This relation is consistent for companies of both stock exchanges, but diverges in terms of the influence of the thematic characteristics of the call that can be explained by the mandatory disclosure of this information by European public companies (ESG Reports), as opposed to voluntary publication by Russian companies. The results can be applied both by the management of public companies in order to improve companies’ attractiveness (perception and transparency) and its market value in the short and medium-term period, and by investors to manage effectively the portfolio by predicting the future dynamics of the company’s share price after a conference call based on semantic tone and thematic features.

show abstract

What's in the Words? Development and Validation of a Multidimensional Dictionary for CSR and Application Using Prospectuses

Cited by 72 publications

References 37 publications

Strategic entrepreneurial orientation: Configurations, performance, and the effects of industry and time

Strategic entrepreneurial orientation: Configurations, performance, and the effects of industry and time

Sustainability and Corporate Social Responsibility in the Text of Annual Reports—The Case of the IT Services Industry

The influence of conference calls’ semantic characteristics on the company market performance: Text analysis

Contact Info

Product

Resources

About