Related papers: Financial Statement Analysis with Large Language M…

Financial sentiment has become a crucial yet complex concept in finance, increasingly used in market forecasting and investment strategies. Despite its growing importance, there remains a need to define and understand what financial…

In recent years, Large Language Models (LLMs) have emerged as a transformative development in artificial intelligence (AI), drawing significant attention from industry and academia. Trained on vast datasets, these sophisticated AI systems…

What makes large language models (LLMs) impressive is also what makes them hard to evaluate: their diversity of uses. To evaluate these models, we must understand the purposes they will be used for. We consider a setting where these…

We investigate whether the hidden states of large language models (LLMs) can be used to estimate and impute economic and financial statistics. Focusing on county-level (e.g. unemployment) and firm-level (e.g. total assets) variables, we…

Large Language Models (LLMs) have demonstrated exceptional capabilities in various natural language tasks, often achieving performances that surpass those of humans. Despite these advancements, the domain of mathematics presents a…

Context: Large Language Models (LLMs) enable automation of complex natural language processing across domains, but research on domain-specific applications like Finance remains limited. Objectives: This study explored open-source and…

Large Language Models (LLMs) have emerged as powerful support tools across various natural language tasks and a range of application domains. Recent studies focus on exploring their capabilities for data annotation. This paper provides a…

Large language models (LLMs) show promise for natural language tasks but struggle when applied directly to complex domains like finance. LLMs have difficulty reasoning about and integrating all relevant information. We propose a…

The emergence of Large Language Models (LLMs), such as ChatGPT, has revolutionized general natural language preprocessing (NLP) tasks. However, their expertise in the financial domain lacks a comprehensive evaluation. To assess the ability…

Natural language processing (NLP) has been widely used in quantitative finance, but traditional methods often struggle to capture rich narratives in corporate disclosures, leaving potentially informative signals under-explored. Large…

This paper presents a realistic simulated stock market where large language models (LLMs) act as heterogeneous competing trading agents. The open-source framework incorporates a persistent order book with market and limit orders, partial…

We document the capability of large language models (LLMs) like ChatGPT to predict stock market reactions from news headlines without direct financial training. Using post-knowledge-cutoff headlines, GPT-4 captures initial market responses,…

Large Language Models (LLMs) have been shown to perform well for many downstream tasks. Transfer learning can enable LLMs to acquire skills that were not targeted during pre-training. In financial contexts, LLMs can sometimes beat…

We investigate the efficacy of large language models (LLMs) in sentiment analysis of U.S. financial news and their potential in predicting stock market returns. We analyze a dataset comprising 965,375 news articles that span from January 1,…

Systematic reviews are vital for guiding practice, research, and policy, yet they are often slow and labour-intensive. Large language models (LLMs) could offer a way to speed up and automate systematic reviews, but their performance in such…

Recent advancements in natural language processing by large language models (LLMs), such as GPT-4, have been suggested to approach Artificial General Intelligence. And yet, it is still under dispute whether LLMs possess similar reasoning…

Large Language Models (LLMs) have transformed artificial intelligence by excelling in complex natural language processing tasks. Their ability to generate human-like text has opened new possibilities for market research, particularly in…

Large language models (LLMs) have demonstrated remarkable potential in handling multilingual machine translation (MMT). In this paper, we systematically investigate the advantages and challenges of LLMs for MMT by answering two questions:…

Prior work has shown that large language models (LLMs) can predict human attitudes based on other attitudes, but this work has largely focused on predictions from highly similar and interrelated attitudes. In contrast, human attitudes are…

Large language models (LLMs), such as GPT4 and LLaMA, are creating significant advancements in natural language processing, due to their strong text encoding/decoding ability and newly found emergent capability (e.g., reasoning). While LLMs…