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Identification of innovation drivers based on technology-related news articles

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  • Latifi, Albina
  • Winker, Peter
  • Lenz, David

Abstract

Innovations contribute to economic growth. Hence, knowledge about drivers of innovation activities is a necessary input for economic policy making when it comes to implementing targeted support measures. We focus on firms as potential drivers of innovation and use a novel data-driven approach to identify them. The approach is based on news articles from a technology-related newspaper for the period 1996–2021. In a first step, natural language processing (NLP) tools are used to identify latent topics in the text corpus. Expert knowledge is used to tag innovation-related topics. In a second step, a named entity recognition (NER) method is used to detect firm names in the news articles. Combining the information about innovation-related topics and firms mentioned in news articles linked to these topics provides a set of firms linked to each innovation-related topic. The results suggest that the approach helps identify drivers of innovation activities going beyond the usual suspects. However, given that the rate of false alarms is not negligible, at the end also human judgement is needed when using this approach.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Latifi, Albina & Winker, Peter & Lenz, David, 2024. "Identification of innovation drivers based on technology-related news articles," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302371, Verein für Socialpolitik / German Economic Association.
    • Handle: RePEc:zbw:vfsc24:302371
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    References listed on IDEAS

    as
    1. Bystrov Victor & Naboka Viktoriia & Staszewska-Bystrova Anna & Winker Peter, 2022. "Cross-Corpora Comparisons of Topics and Topic Trends," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 242(4), pages 433-469, August.
    2. Stefano Sbalchiero & Maciej Eder, 2020. "Topic modeling, long texts and the best number of topics. Some Problems and solutions," Quality & Quantity: International Journal of Methodology, Springer, vol. 54(4), pages 1095-1108, August.
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    4. David Lenz & Peter Winker, 2020. "Measuring the diffusion of innovations with paragraph vector topic models," PLOS ONE, Public Library of Science, vol. 15(1), pages 1-18, January.
    5. Jan Kinne & David Lenz, 2021. "Predicting innovative firms using web mining and deep learning," PLOS ONE, Public Library of Science, vol. 16(4), pages 1-18, April.
    6. Norman Dalkey & Olaf Helmer, 1963. "An Experimental Application of the DELPHI Method to the Use of Experts," Management Science, INFORMS, vol. 9(3), pages 458-467, April.
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    More about this item

    JEL classification:

    • C49 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Other
    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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