4.2.3 Parsing the Data
The programming language ‘Perl’, was used to undertake the textual analysis. This
language is particularly suitable for text processing (Francis and Flynn 2010). Perl is
available through open source software and has been successfully used in text
processing in financial research (e.g., Weiss Hanley and Hoberg 2012) and accounting
research (e.g., Li 2008; Twedt and Rees 2012)