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Authors: Hao Lu ; Xiaoyu Liu and Hai Wang

Affiliation: Sobey School of Business, Saint Mary’s University, Canada

Keyword(s): Topic Modelling, Natural Language Processing, Machine Learning, Artificial Intelligence, Enterprise Risk Management, Business Analytics, COVID-19.

Abstract: This paper presents a topic modelling method for automated text analysis of the adoption of enterprise risk management by publicly traded firms. The topic modelling method applies the Latent Dirichlet Allocation algorithm on corporate annual financial disclosures to identify whether firms have adopted enterprise risk management. The preliminary results indicate that the firms that have adopted enterprise risk management have a smaller reduction in daily abnormal returns during the recession period of the COVID-19 financial market shock in 2020 (the first quarter of 2020 when the stock market crashed) and a larger increase in daily abnormal returns during the recovery period (the second and third quarters of 2020 when the stock market recovered). Moreover, there is no evidence that the adoption of enterprise risk management reduces the volatility of stock returns of publicly traded firms during the COVID-19 financial market shock in 2020.

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Paper citation in several formats:
Lu, H.; Liu, X. and Wang, H. (2023). A Topic Modelling Method for Automated Text Analysis of the Adoption of Enterprise Risk Management. In Proceedings of the 18th International Conference on Software Technologies - ICSOFT; ISBN 978-989-758-665-1; ISSN 2184-2833, SciTePress, pages 456-462. DOI: 10.5220/0012118500003538

@conference{icsoft23,
author={Hao Lu. and Xiaoyu Liu. and Hai Wang.},
title={A Topic Modelling Method for Automated Text Analysis of the Adoption of Enterprise Risk Management},
booktitle={Proceedings of the 18th International Conference on Software Technologies - ICSOFT},
year={2023},
pages={456-462},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012118500003538},
isbn={978-989-758-665-1},
issn={2184-2833},
}

TY - CONF

JO - Proceedings of the 18th International Conference on Software Technologies - ICSOFT
TI - A Topic Modelling Method for Automated Text Analysis of the Adoption of Enterprise Risk Management
SN - 978-989-758-665-1
IS - 2184-2833
AU - Lu, H.
AU - Liu, X.
AU - Wang, H.
PY - 2023
SP - 456
EP - 462
DO - 10.5220/0012118500003538
PB - SciTePress

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