Google Trends for Public Sentiment on Internal Control in Greece in the Face of Economic Policy Uncertainty

Abstract

This study employs publicly available Google Trends data to construct an internal audit people perception index for the Greek public sector and investigates the influence of economic policy uncertainty on this index. Findings reveal positive correlations between various proxies for uncertainty in Greece and the proposed index, indicating that economic policy uncertainty negatively impacts people’s attitudes, fostering increased interest in mismanagement, incompetent internal audit practices, and corruption. Notably, the EPU index and its sub-indices demonstrate statistically significant relationships with the Google Trends-based index. Analysis of indices related to Fiscal Policy (EPUF), Monetary Policy (EPUM), and Economic Policy Uncertainty (EPU), along with the broader Economic Uncertainty (EU) index, indicates a significant positive association with the Google Trends uncertainty index. This study contributes to a deeper understanding of the impact of economic uncertainty on individuals in the Greek public sector, offering insights that may shape policy discussions and strategies for enhancing economic decision-making.