Developing a Business Sentiment Index Using News Articles

Abstract

This paper reports our work on developing a new business sentiment index using daily newspaper articles. We adopts a recurrent neural network (RNN) to estimate the sentiment of a given text. The RNN is initially trained on Economy Watchers Survey and then fine-tuned on newspaper articles for domain adaptation. Also, a one-class support vector machine is applied to filter out texts of irrelevant topics. Moreover, we analyze the contributions of various factors that influence the estimated business sentiment.