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Digital agendas in the insurance industry: the importance of comprehensive approaches† | SpringerLink

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Digital agendas in the insurance industry: the importance of comprehensive approaches† | SpringerLink

Digital agendas in the insurance industry: the importance of comprehensive approaches †
With a growing awareness of the potential of innovation provided by digital technology, insurance companies have increasingly adopted digital agendas in their business activities. Our paper studies the relationship between the expression of a digital agenda in annual reports and the business performance of 41 publicly-traded European insurance companies for the time period from 2007 to 2017. Our findings show a positive relationship, which is particularly strong in cases where companies take a comprehensive approach by addressing digital technology both in the context of internal activities within their own organisation and external activities in connection with customers and business partners.
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In order to be able to calculate Tobin's Q , we restrict the data set to publicly-traded insurance companies, and we consider companies that disclosed their full annual reports in English for the respective years.
Several approaches were conducted and evaluated; the most suitable results in our case were provided by preprocessing with Ghostscript, plain text extraction via Xpdf, and quantitative text analysis using the programming language R (considered alternatives include, amongst others, PDFBox, RapidMiner, and Tika).
Note that we explicitly do not use the common word stem "digit" at this point since it could be misleading.
This is done by Porter's word stemming algorithm via SnowballC (see Bouchet-Valat 2014).
The word stems were gained from a content analysis of a subset of the complete data set. In order to avoid individual bias, key words were chosen by different researchers and then comprehensively discussed before a common agreement on the most suitable items was reached.
By focusing on the European market, we refrain from dealing with market specifics.
For \( d_^ \) , the effect seems to be positive as well, but could not be statistically confirmed.
In addition to this, we also use, amongst others, k = " c 20, e , binary ", " c 50, e , binary ", " c 20, i , binary ", " c 50, i , binary ", " c 50, ei , binary ", and " binary " in the robustness analysis.
List of English stop words retrieved from
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