RESUMO
The main question of this paper is what factors influence willingness to participate in a smartphone-application-based data collection where participants both fill out a questionnaire and let the app collect data on their smartphone usage. Passive digital data collection is becoming more common, but it is still a new form of data collection. Due to the novelty factor, it is important to investigate how willingness to participate in such studies is influenced by both socio-economic variables and smartphone usage behaviour. We estimate multilevel models based on a survey experiment with vignettes for different characteristics of data collection (e.g., different incentives, duration of the study). Our results show that of the socio-demographic variables, age has the largest influence, with younger age groups having a higher willingness to participate than older ones. Smartphone use also has an impact on participation. Advanced users are more likely to participate, while users who only use the basic functions of their device are less likely to participate than those who use it mainly for social media. Finally, the explorative analysis with interaction terms between levels has shown that the circumstances of data collection matter differently for different social groups. These findings provide important clues on how to fine-tune circumstances to improve participation rates in this novel passive digital data collection.
Assuntos
Aplicativos Móveis , Smartphone , Humanos , Grupo Social , Inquéritos e Questionários , MotivaçãoRESUMO
In this article we investigate how the public communication of the Hungarian Central Bank's Monetary Council (MC) affects Hungarian sovereign bond yields. This research ties into the advances made in the financial and political economy literature which rely on extensive textual data and quantitative text analysis tools. While prior research demonstrated that forward guidance, in the form of council meeting minutes or press releases can be used as predictors of rate decisions, we are interested in whether they are able to directly influence asset returns as well. In order to capture the effect of central bank communication, we measure the latent hawkish or dovish sentiment of MC press releases from 2005 to 2019 by applying a sentiment dictionary, a staple in the text mining toolkit. Our results show that central bank forward guidance has an intra-year effect on bond yields. However, the hawkish or dovish sentiment of press releases has no impact on maturities of one year or longer where the policy rate proves to be the most important explanatory variable. Our research also contributes to the literature by applying a specialized dictionary to monetary policy as well as broadening the discussion by analyzing a case from the non-eurozone Central-Eastern region of the European Union.