{"product_id":"how-novelty-and-narratives-drive-the-stock-market-black-swans-animal-spirits-and-scapegoats-hardback-9781108838450","title":"How Novelty and Narratives Drive the Stock Market; Black Swans, Animal Spirits and Scapegoats (Hardback) 9781108838450","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eHow Novelty and Narratives Drive the Stock Market\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eBlack Swans, Animal Spirits and Scapegoats\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eThe novelty-narrative hypothesis is used to understand stock market instability using big data textual analytics of financial news.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eNicholas Mangee (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781108838450, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 14 October 2021\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e300 pages\u003cbr\u003e23.5 x 15.8 x 2.9 cm, 0.76 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'Mangee provides a solid introduction to a novel approach to explaining equity instability.' Mark S. Rzepczynski, CFA Institute\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e'Animal spirits' is a term that describes the instincts and emotions driving human behaviour in economic settings. In recent years, this concept has been discussed in relation to the emerging field of narrative economics. When unscheduled events hit the stock market, from corporate scandals and technological breakthroughs to recessions and pandemics, relationships driving returns change in unforeseeable ways. To deal with uncertainty, investors engage in narratives which simplify the complexity of real-time, non-routine change. This book assesses the novelty-narrative hypothesis for the U.S. stock market by conducting a comprehensive investigation of unscheduled events using big data textual analysis of financial news. This important contribution to the field of narrative economics finds that major macro events and associated narratives spill over into the churning stream of corporate novelty and sub-narratives, spawning different forms of unforeseeable stock market instability.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePart I. Novelty, Narratives and Instability: 1. Narrative finance and stock market novelty\u003cbr\u003e 2. Unpredictably unstable\u003cbr\u003e Part II. News Analytics as a Window into Stock Market Instability: 3. Narratology and other disciplines\u003cbr\u003e 4. News anaytics: novelty, narratives and non-routine change\u003cbr\u003e 5. The corporate Knightian uncertainty index\u003cbr\u003e 6. KU Sentiment, novelty and relevance\u003cbr\u003e 7. Diversity of corporate uncertainty events\u003cbr\u003e 8. Macro versus micro novelty\u003cbr\u003e Part III. Empirical Evidence for the Novelty-Narrative Hypothesis: 9. Corporate novelty and stock market outcomes\u003cbr\u003e 10. Narrative intensity and stock market instability\u003cbr\u003e 11. A manual novelty-narrative scapegoat analysis\u003cbr\u003e 12. Applying novelty and narratives to other research\u003cbr\u003e 13. The future of novelty, narratives and uncertainty in finance\u003cbr\u003e 14. Concluding thoughts and future research\u003cbr\u003e Appendices\u003cbr\u003e Bibliography\u003cbr\u003e Index.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance [\u003ca title=\"See our other books on Finance\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20%5BKFF%5D%22\"\u003eKFF\u003c\/a\u003e], Economic history [\u003ca title=\"See our other books on Economic history\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economic%20history%20%5BKCZ%5D%22\"\u003eKCZ\u003c\/a\u003e], Psychology [\u003ca title=\"See our other books on Psychology\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Psychology%20%5BJM%5D%22\"\u003eJM\u003c\/a\u003e], Sociology [\u003ca title=\"See our other books on Sociology\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Sociology%20%5BJHB%5D%22\"\u003eJHB\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46001074438424,"sku":"9781108838450","price":32.26,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9781108838450i.jpg?v=1696727382","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/how-novelty-and-narratives-drive-the-stock-market-black-swans-animal-spirits-and-scapegoats-hardback-9781108838450","provider":"Freshly Printed Books","version":"1.0","type":"link"}