Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Integrating Text Mining and Balanced Scorecard Techniques to Investigate the Association between CEO Message of Homepage Words and Financial Status: Emphasis on Hospitals

Version 1 : Received: 1 February 2021 / Approved: 3 February 2021 / Online: 3 February 2021 (15:07:40 CET)

A peer-reviewed article of this Preprint also exists.

Na, H.J.; Lee, K.C.; Kim, S.T. Integrating Text-Mining and Balanced Scorecard Techniques to Investigate the Association between CEO Message of Homepage Words and Financial Status: Emphasis on Hospitals. Healthcare 2021, 9, 408. Na, H.J.; Lee, K.C.; Kim, S.T. Integrating Text-Mining and Balanced Scorecard Techniques to Investigate the Association between CEO Message of Homepage Words and Financial Status: Emphasis on Hospitals. Healthcare 2021, 9, 408.

Journal reference: Healthcare 2021, 9, 408
DOI: 10.3390/healthcare9040408

Abstract

(1) Background: The CEO message of hospital homepage contain various contents such as the hospital's future vision, promises with customers, upgraded services and public activities. The CEO’s message of the homepage includes non-financial information as well as financial information of corporates. Also, it provides useful information for not only company's goals and vision but also firm performance and strategies for the future. This study aims to investigate associations between CEO’s message of hospitals homepages and financial status. We used the balanced scorecard frame to analyze what content on the hospital's homepage is related to the hospital's various financial ratios. (2) Methods: We adopt a text mining method to extract significantly repeated keywords from the CEO’s message of hospital website. And we classify these keywords by a balanced scorecard frame. To examine the relationship between keywords of CEO’s message of the hospital homepage and hospital’s financial ratio, T-test is conducted for the difference in the TF-IDF (Term Frequency is Divided by Inverse Document Frequency) mean of the home page contents and its relationship with the views of the balanced scorecard framework. (3) Results: According to empirical results on 65 samples collected from local hospitals, there are some significant relationship between the qualitative content of the hospital's homepage and the quantitative financial ratio that indicates profitability, activity, leverage, liquidity, and transfer to essential business fund (EBF) income. (4) Conclusions: The introduction section of a homepage is most accessible to customers, containing the aims and ideals of hospitals and reflecting their values and visions [1]. In addition, in view of financial status, they can either emphasize financial strength or focus on other areas to mask weakness of financial information. This study reminds us of the importance of hospital website’s disclosure, and it can be inferred from the financial status of the hospital. It also highlights the need for harmonization between quantitative data, financial statements, and qualitative data, CEO’s messages. (5) Implications: To our best knowledge, this paper is the first research attempting to investigate the relation between text of hospital homepage and financial ratio of hospital through text mining technique and balanced scorecard frame. Hospitals take a crucial part in a country’s welfare and healthcare backbone industry. Nevertheless, in many countries, hospital organization sectors tend to remain a source of critical fiscal deficits due to its ineffective and sloppy management. We expect that the result of this paper can provide hospital managers to useful information.

Subject Areas

Homepage words; Financial ratio; Text-mining; Balanced scorecard

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