Journal of Information Technology Services (한국IT서비스학회지)

Korea Society of IT Services (한국IT서비스학회)
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Study on CEO New Year's Address: Using Text Mining Method

텍스트마이닝을 활용한 주요 대기업 신년사 분석

  • Received : 2023.02.21
  • Accepted : 2023.04.28
  • Published : 2023.04.30
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Abstract

This study analyzed the CEO New Year's addresses of major Korean companies, extracting key topics for employees via text mining techniques. An intended contribution of this study is to assist reporters, analysts, and researchers in gaining a better understanding of the New Year's addresses by elucidating the implicit and implicative features of messages within. To this end, this study collected and analyzed 545 New Year's addresses published between 2012 and 2021 by the top 66 Korean companies in terms of market capitalization. Research methodologies applied include text clustering, word embedding of keywords, frequency analysis, and topic modeling. Our main findings suggest that the messages in the New Year's addresses were categorized into nine topics-organizational culture, global advancement, substantial management, business reorganization, capacity building, market leadership, management innovation, sustainable management, and technology development. Next, this study further analyzed the managerial significance of each topic and discussed their characteristics from the perspectives of time, industry, and corporate groups. Companies were typically found to emphasize sound management, market leadership, and business reorganization during economic downturns while stressing capacity building and organizational culture during market transition periods. Also, companies belonging to corporate groups tended to emphasize founding philosophy and corporate culture.

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