How Novelty and Narratives Drive the Stock Market - Black Swans, Animal Spirits and Scapegoats

The novelty-narrative hypothesis is used to understand stock market instability using big data textual analytics of financial news.

List of contents

Part I. Novelty, Narratives and Instability: 1. Narrative finance and stock market novelty; 2. Unpredictably unstable; Part II. News Analytics as a Window into Stock Market Instability: 3. Narratology and other disciplines; 4. News anaytics: novelty, narratives and non-routine change; 5. The corporate Knightian uncertainty index; 6. KU Sentiment, novelty and relevance; 7. Diversity of corporate uncertainty events; 8. Macro versus micro novelty; Part III. Empirical Evidence for the Novelty-Narrative Hypothesis: 9. Corporate novelty and stock market outcomes; 10. Narrative intensity and stock market instability; 11. A manual novelty-narrative scapegoat analysis; 12. Applying novelty and narratives to other research; 13. The future of novelty, narratives and uncertainty in finance; 14. Concluding thoughts and future research; Appendices; Bibliography; Index.

About the author

Nicholas Mangee is Associate Professor of Finance at Georgia Southern University and Research Associate for the Institute of New Economic Thinking program on Knightian Uncertainty Economics.

Summary

This book is for researchers and finance practitioners with an interest in understanding stock market instability arising from the novelty of non-repetitive events and associated narrative dynamics through big data textual analysis of financial news reports.

Product details

• Authors: Nicholas Mangee, Nicholas (Georgia Southern University) Mangee
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Hardback
• Released: 14.10.2021
• EAN: 9781108838450
• ISBN: 978-1-108-83845-0
• No. of pages: 300
• Series: Studies in New Economic Thinking
• Subjects: Social sciences, law, business > Business > Management; Sociology, Finance, SOCIAL SCIENCE / Sociology / General, PSYCHOLOGY / General, BUSINESS & ECONOMICS / Economic History, BUSINESS & ECONOMICS / Finance / General, Psychology, Economic history, Finance and the finance industry