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Firm disclosures about future prospects are crucial for corporate valuation and compliance with global regulations, such as the EU's MAR and the US's SEC Rule 10b-5 and RegFD. To comply with disclosure obligations, issuers must identify…
This article demontrates that we can apply deep learning to text understanding from character-level inputs all the way up to abstract text concepts, using temporal convolutional networks (ConvNets). We apply ConvNets to various large-scale…
Machine learning plays an essential role in preventing financial losses in the banking industry. Perhaps the most pertinent prediction task that can result in billions of dollars in losses each year is the assessment of credit risk (i.e.,…
Causal inference, a critical tool for informing business decisions, traditionally relies heavily on structured data. However, in many real-world scenarios, such data can be incomplete or unavailable. This paper presents a framework that…
Detecting opportunities and threats from massive text data is a challenging task for most. Traditionally, companies would rely mainly on structured data to detect and predict risks, losing a huge amount of information that could be…
Credit risk assessment of a company is commonly conducted by utilizing financial ratios that are derived from its financial statements. However, this approach may not fully encompass other significant aspects of a company. We propose the…
Deep learning has shown remarkable results on Euclidean data (e.g. audio, images, text) however this type of data is limited in the amount of relational information it can hold. In mathematics we can model more general relational data in a…
Large amount of public data produced by enterprises are in semi-structured PDF form. Tabular data extraction from reports and other published data in PDF format is of interest for various data consolidation purposes such as analysing and…
We show how text from news articles can be used to predict intraday price movements of financial assets using support vector machines. Multiple kernel learning is used to combine equity returns with text as predictive features to increase…
Adjusting for latent covariates is crucial for estimating causal effects from observational textual data. Most existing methods only account for confounding covariates that affect both treatment and outcome, potentially leading to biased…
Share valuations are known to adjust to new information entering the market, such as regulatory disclosures. We study whether the language of such news items can improve short-term and especially long-term (24 months) forecasts of stock…
In the evolving field of corporate sustainability, analyzing unstructured Environmental, Social, and Governance (ESG) reports is a complex challenge due to their varied formats and intricate content. This study introduces an innovative…
Standard methods and theories in finance can be ill-equipped to capture highly non-linear interactions in financial prediction problems based on large-scale datasets, with deep learning offering a way to gain insights into correlations in…
Companies today are racing to leverage the latest digital technologies, such as artificial intelligence, blockchain, and cloud computing. However, many companies report that their strategies did not achieve the anticipated business results.…
Using a comprehensive sample of 2,585 bankruptcies from 1990 to 2019, we benchmark the performance of various machine learning models in predicting financial distress of publicly traded U.S. firms. We find that gradient boosted trees…
Extracting information from unstructured text documents is a demanding task, since these documents can have a broad variety of different layouts and a non-trivial reading order, like it is the case for multi-column documents or nested…
Financial distress of municipalities, although comparable to bankruptcy of private companies, has a far more serious impact on the well-being of communities. For this reason, it is essential to detect deficits as soon as possible.…
Financial forecasting has been an important and active area of machine learning research, as even the most modest advantage in predictive accuracy can be parlayed into significant financial gains. Recent advances in natural language…
Deep neural networks are increasingly being used for the analysis of medical images. However, most works neglect the uncertainty in the model's prediction. We propose an uncertainty-aware deep kernel learning model which permits the…
Accurate and explainable health event predictions are becoming crucial for healthcare providers to develop care plans for patients. The availability of electronic health records (EHR) has enabled machine learning advances in providing these…