Recent years have witnessed the ability to gather an enormous amount of data in a large number of domains. Also in the field of business process management, there exists an urgent need to beneficially use these data to retrieve actionable knowledge about the actual way of working in the context...

We analyze whether newspaper content can predict aggregate future stock returns. Our study is based on articles published in the Handelsblatt, a leading German financial newspaper, from July 1989 to March 2011. We summarize newspaper content in a systematic way by constructing word-count indices...