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Financial sentiment analysis is crucial for understanding the influence of news on stock prices. Recently, large language models (LLMs) have been widely adopted for this purpose due to their advanced text analysis capabilities. However,…

Computation and Language · Computer Science 2025-06-24 Yixuan Liang , Yuncong Liu , Neng Wang , Hongyang Yang , Boyu Zhang , Christina Dan Wang

Stock prices, as an economic indicator, reflect changes in economic development and market conditions. Traditional stock price prediction models often only consider time-series data and are limited by the mechanisms of the models…

Computational Engineering, Finance, and Science · Computer Science 2024-07-02 Fengting Mo , Shanshan Yan , Yinhao Xiao

Stock price prediction is a rich research topic that has attracted interest from various areas of science. The recent success of machine learning in speech and image recognition has prompted researchers to apply these methods to asset price…

Trading and Market Microstructure · Quantitative Finance 2020-09-22 Firuz Kamalov

Recent advances, such as GPT and BERT, have shown success in incorporating a pre-trained transformer language model and fine-tuning operation to improve downstream NLP systems. However, this framework still has some fundamental problems in…

Computation and Language · Computer Science 2019-05-22 Zhongyang Li , Xiao Ding , Ting Liu

Traditional sentiment construction in finance relies heavily on the dictionary-based approach, with a few exceptions using simple machine learning techniques such as Naive Bayes classifier. While the current literature has not yet invoked…

Statistical Finance · Quantitative Finance 2022-07-08 Joshua Zoen Git Hiew , Xin Huang , Hao Mou , Duan Li , Qi Wu , Yabo Xu

We utilize FinBERT, a domain-specific transformer model, to parse 6.5 million sentences from 16,428 S&P 500 quarterly earnings call transcripts (2015-2025) and demonstrate that post-earnings stock returns are not equally affected by all…

Trading and Market Microstructure · Quantitative Finance 2026-04-16 Karmanpartap Singh Sidhu , Junyi Fan , Maryam Pishgar

The stock market has been a popular topic of interest in the recent past. The growth in the inflation rate has compelled people to invest in the stock and commodity markets and other areas rather than saving. Further, the ability of Deep…

Statistical Finance · Quantitative Finance 2021-07-21 Priyank Sonkiya , Vikas Bajpai , Anukriti Bansal

Contextual pretrained language models, such as BERT (Devlin et al., 2019), have made significant breakthrough in various NLP tasks by training on large scale of unlabeled text re-sources.Financial sector also accumulates large amount of…

Computation and Language · Computer Science 2020-07-10 Yi Yang , Mark Christopher Siy UY , Allen Huang

Predicting stock price movements during Earnings Announcements (EAs) is a significant challenge due to market noise and high-impact price discontinuities. In this study, we evaluate whether pre-announcement news sentiment, firm…

Machine Learning · Computer Science 2026-05-26 Manuel Noseda , Nathan Soldati , Marco Paina

Earnings calls are hosted by management of public companies to discuss the company's financial performance with analysts and investors. Information disclosed during an earnings call is an essential source of data for analysts and investors…

Statistical Finance · Quantitative Finance 2020-09-04 Zhiqiang Ma , Grace Bang , Chong Wang , Xiaomo Liu

The increasing influence of unstructured external information, such as news articles, on stock prices has attracted growing attention in financial markets. Despite recent advances, most existing newsbased forecasting models represent all…

Computational Engineering, Finance, and Science · Computer Science 2025-10-28 Jinwoong Kim , Sangjin Park

We examine how textual features in earnings press releases predict stock returns on earnings announcement days. Using over 138,000 press releases from 2005 to 2023, we compare traditional bag-of-words and BERT-based embeddings. We find that…

Computational Finance · Quantitative Finance 2025-10-07 Yuntao Wu , Ege Mert Akin , Charles Martineau , Vincent Grégoire , Andreas Veneris

The evaluation of the financial markets to predict their behaviour have been attempted using a number of approaches, to make smart and profitable investment decisions. Owing to the highly non-linear trends and inter-dependencies, it is…

Statistical Finance · Quantitative Finance 2022-08-02 Shaswat Mohanty , Anirudh Vijay , Nandagopan Gopakumar

In an era where financial markets are heavily influenced by many static and dynamic factors, it has become increasingly critical to carefully integrate diverse data sources with machine learning for accurate stock price prediction. This…

Statistical Finance · Quantitative Finance 2025-03-10 Furkan Karadaş , Bahaeddin Eravcı , Ahmet Murat Özbayoğlu

The use of transfer learning methods is largely responsible for the present breakthrough in Natural Learning Processing (NLP) tasks across multiple domains. In order to solve the problem of sentiment detection, we examined the performance…

Computation and Language · Computer Science 2023-07-05 Olumide Ebenezer Ojo , Hoang Thang Ta , Alexander Gelbukh , Hiram Calvo , Olaronke Oluwayemisi Adebanji , Grigori Sidorov

The proliferation of artificial intelligence (AI) in financial services has prompted growing demand for tools that can systematically detect AI-related disclosures in corporate filings. While prior approaches often rely on keyword expansion…

Computational Finance · Quantitative Finance 2025-07-04 Muhammad Bilal Zafar

We present SpanBERT, a pre-training method that is designed to better represent and predict spans of text. Our approach extends BERT by (1) masking contiguous random spans, rather than random tokens, and (2) training the span boundary…

Computation and Language · Computer Science 2020-01-22 Mandar Joshi , Danqi Chen , Yinhan Liu , Daniel S. Weld , Luke Zettlemoyer , Omer Levy

The task of predicting the publication period of text documents, such as news articles, is an important but less studied problem in the field of natural language processing. Predicting the year of a news article can be useful in various…

Computation and Language · Computer Science 2023-04-26 Karthick Prasad Gunasekaran , B Chase Babrich , Saurabh Shirodkar , Hee Hwang

Stock price movement prediction is a challenging and essential problem in finance. While it is well established in modern behavioral finance that the share prices of related stocks often move after the release of news via reactions and…

Machine Learning · Computer Science 2023-01-26 Luis Villamil , Ryan Bausback , Shaeke Salman , Ting L. Liu , Conrad Horn , Xiuwen Liu

The proliferation of fake news and its propagation on social media has become a major concern due to its ability to create devastating impacts. Different machine learning approaches have been suggested to detect fake news. However, most of…

Computation and Language · Computer Science 2021-04-14 Junaed Younus Khan , Md. Tawkat Islam Khondaker , Sadia Afroz , Gias Uddin , Anindya Iqbal