Textual analysis, implemented at scale, has become an important addition to the methodological toolbox of finance. In this paper, given the proliferation of papers now using this method, we first provide an updated review of the literature while focusing on a few broad topics—social media,...

Our society is in the midst of an explosion of data: ‘there was 5 exabytes of information created between the dawn of civilization through 2003, but that much information is now created every 2 days, and the pace is increasing’. In 2014, there were 2.4 billion internet users. That number...