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Natural Language Processing in Financial Markets

Workshop "Natural Language Processing in Financial Markets"

Date: November 16, 2018
Location:
Center for Financial Reporting and Auditing, ESMT Berlin, Schlossplatz 1, 10178 Berlin

 

Analysis of qualitative information has a long tradition in computer science (Natural Language Processing – NLP) and linguistics (corpus linguistics). The analysis of language (spoken and written) can provide powerful insights in studying economic consequences and methods applied only recently started to gain traction in accounting and finance. Estimates suggest that 90% of all available data created in the last 10 years, 80% of which in a business context, is qualitative / unstructured. 

Literature in accounting and finance has only scratched the surface of textual analysis capabilities, and reliance on basic NLP techniques is primarily involving bag-of-words methods and make little use of corpus methods. Estimates say that in accounting and finance the state of affairs is significantly behind developments in computational linguistics and machine learning.  Surprisingly little is known about how corporate disclosures interact with alternative information sources to influence investor behavior. Recently, however, hedge funds have started to make more and more use of textual analysis for trading purposes, which makes it even more important for corporations to use language strategically.

Workshop focus

The workshop discussed how recent advances in the area of natural language processing affect the production and processing of financial information, as well as the behavior and outcomes of financial markets. It contained keynotes from Steven Young (Lancaster University) and Ryan LaFond (Deputy CIO, Algert Global LLC), both worldwide leading experts in the field, as well as a set of current working papers that present rigorous academic work with real-life appeal. It was rounded up with a panel discussion highlighting the practical relevance of the field.

 

Academic organizers

 

Organizational aspects

Organizational aspects and support: ESMT Center for Financial Reporting and Auditing.

For all questions, please contact: cfra@esmt.org

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Program

Program

The full program of the Workshop can be downloaded here.

09:30 – 10:30

Registration and Welcome Coffee

10:30 – 10:35Opening and welcome, Per Olsson (ESMT Berlin) and Joachim Gassen (Humboldt University and ESMT Berlin)
10:35 – 11:20Keynote: The Implications of Automated Text Processing for Financial Reporting Disclosure Regulation and Research, Steven Young (Lancaster University)
11:20 – 12:05The Primacy of Numbers in Financial and Accounting Disclosures: Implications for Textual Analysis Research, Peter D. Wysocki (Boston University)
12:05 – 13:10Coffee break & Light lunch
13:10 – 13:55Missing Narratives: An Analysis of Biases in Sample Selection and Variable Choice in Textual Analysis Research, Beatriz García Osma (Universidad Carlos III de Madrid)
13:55 – 14:40Impression Management Techniques in Financial News, Nicolas Pröllochs (The University of Oxford)
14:40 – 15:00Coffee break
15:00– 15:45Keynote: NLP in Financial Markets: An Investors View, Ryan LaFond (Deputy CIO at Algert Global LLC)
15:45 – 16:45Panel Discussion: Natural Language Processing and Corporate Transparency, Moderated by: Joachim Gassen (Humboldt University and ESMT Berlin)
16:45Get-together

 

 

Organizing Commitee

Organizing Commitee

Academic organizers

Organizational aspects

Organizational aspects and support: ESMT Berlin, Center for Financial Reporting and Auditing.

For all questions, please contact: cfra@esmt.org

 

Registration

Registration

Participation at the Workshop is free of charge. To register for the Workshop, please email us at cfra@esmt.org.

Registration Deadline: November 13, 2018

Hotel information

Hotel information

Rooms have been reserved for speakers and special guests. Please contact the organizers at cfra@esmt.org for more information.

We recommend the following hotel close to our campus:

ARCOTEL John F (****S)


Please note that the accommodation inquiry should be made directly to the hotel.

 

Call for papers (closed)

Call for papers (closed)

Please note that the Call for papers is closed. The following papers will be presented within the Academic program of the conference:

  • Beatriz García Osma (Universidad Carlos III de Madrid): Missing Narratives: An Analysis of Biases in Sample Selection and Variable Choice in Textual Analysis Research

  • Nicolas Pröllochs (The University of Oxford): Impression Management Techniques in Financial News

  • Peter D. Wysocki (Boston University): The Primacy of Numbers in Financial and Accounting Disclosures: Implications for Textual Analysis Research

 

Call for papers:

If you are interested to present at the Workshop, please send us your paper at cfra@esmt.org no later than October 22.

Expenses:

We will provide accommodation as well as reimbursement for reasonable travel expenses for presenting authors.

For further questions, please contact us at cfra@esmt.org