{"id":"https://openalex.org/W4388994225","doi":"https://doi.org/10.1145/3604237.3627721","title":"LLMs Analyzing the Analysts: Do BERT and GPT Extract More Value from Financial Analyst Reports?","display_name":"LLMs Analyzing the Analysts: Do BERT and GPT Extract More Value from Financial Analyst Reports?","publication_year":2023,"publication_date":"2023-11-25","ids":{"openalex":"https://openalex.org/W4388994225","doi":"https://doi.org/10.1145/3604237.3627721"},"language":"en","primary_location":{"id":"doi:10.1145/3604237.3627721","is_oa":false,"landing_page_url":"https://doi.org/10.1145/3604237.3627721","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"4th ACM International Conference on AI in Finance","raw_type":"proceedings-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5101443187","display_name":"Seon-Mi Kim","orcid":null},"institutions":[{"id":"https://openalex.org/I48566637","display_name":"Ulsan National Institute of Science and Technology","ror":"https://ror.org/017cjz748","country_code":"KR","type":"education","lineage":["https://openalex.org/I48566637"]}],"countries":["KR"],"is_corresponding":true,"raw_author_name":"Seonmi Kim","raw_affiliation_strings":["Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR"],"raw_orcid":"https://orcid.org/0009-0003-3566-6312","affiliations":[{"raw_affiliation_string":"Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR","institution_ids":["https://openalex.org/I48566637"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5000192621","display_name":"Seyoung Kim","orcid":"https://orcid.org/0009-0005-8788-3495"},"institutions":[{"id":"https://openalex.org/I48566637","display_name":"Ulsan National Institute of Science and Technology","ror":"https://ror.org/017cjz748","country_code":"KR","type":"education","lineage":["https://openalex.org/I48566637"]}],"countries":["KR"],"is_corresponding":false,"raw_author_name":"Seyoung Kim","raw_affiliation_strings":["Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR"],"raw_orcid":"https://orcid.org/0009-0005-8788-3495","affiliations":[{"raw_affiliation_string":"Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR","institution_ids":["https://openalex.org/I48566637"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5102981268","display_name":"Y. Han Kim","orcid":"https://orcid.org/0009-0005-6141-9360"},"institutions":[{"id":"https://openalex.org/I48566637","display_name":"Ulsan National Institute of Science and Technology","ror":"https://ror.org/017cjz748","country_code":"KR","type":"education","lineage":["https://openalex.org/I48566637"]}],"countries":["KR"],"is_corresponding":false,"raw_author_name":"Yejin Kim","raw_affiliation_strings":["Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR"],"raw_orcid":"https://orcid.org/0009-0005-6141-9360","affiliations":[{"raw_affiliation_string":"Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR","institution_ids":["https://openalex.org/I48566637"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5036719821","display_name":"J. Park","orcid":"https://orcid.org/0009-0003-1682-432X"},"institutions":[{"id":"https://openalex.org/I48566637","display_name":"Ulsan National Institute of Science and Technology","ror":"https://ror.org/017cjz748","country_code":"KR","type":"education","lineage":["https://openalex.org/I48566637"]}],"countries":["KR"],"is_corresponding":false,"raw_author_name":"Junpyo Park","raw_affiliation_strings":["Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR"],"raw_orcid":"https://orcid.org/0009-0003-1682-432X","affiliations":[{"raw_affiliation_string":"Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR","institution_ids":["https://openalex.org/I48566637"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5062238293","display_name":"Seongjin Kim","orcid":"https://orcid.org/0009-0004-6650-7880"},"institutions":[{"id":"https://openalex.org/I48566637","display_name":"Ulsan National Institute of Science and Technology","ror":"https://ror.org/017cjz748","country_code":"KR","type":"education","lineage":["https://openalex.org/I48566637"]}],"countries":["KR"],"is_corresponding":false,"raw_author_name":"Seongjin Kim","raw_affiliation_strings":["Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR"],"raw_orcid":"https://orcid.org/0009-0004-6650-7880","affiliations":[{"raw_affiliation_string":"Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR","institution_ids":["https://openalex.org/I48566637"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5046742925","display_name":"Moolkyeol Kim","orcid":"https://orcid.org/0009-0008-0424-5140"},"institutions":[{"id":"https://openalex.org/I48566637","display_name":"Ulsan National Institute of Science and Technology","ror":"https://ror.org/017cjz748","country_code":"KR","type":"education","lineage":["https://openalex.org/I48566637"]}],"countries":["KR"],"is_corresponding":false,"raw_author_name":"Moolkyeol Kim","raw_affiliation_strings":["Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR"],"raw_orcid":"https://orcid.org/0009-0008-0424-5140","affiliations":[{"raw_affiliation_string":"Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR","institution_ids":["https://openalex.org/I48566637"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5012729484","display_name":"Chang Hwan Sung","orcid":"https://orcid.org/0009-0000-7309-6347"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Chang Hwan Sung","raw_affiliation_strings":["Invesco, HK"],"raw_orcid":"https://orcid.org/0009-0000-7309-6347","affiliations":[{"raw_affiliation_string":"Invesco, HK","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5056151505","display_name":"Joohwan Hong","orcid":"https://orcid.org/0000-0003-3364-3080"},"institutions":[{"id":"https://openalex.org/I48566637","display_name":"Ulsan National Institute of Science and Technology","ror":"https://ror.org/017cjz748","country_code":"KR","type":"education","lineage":["https://openalex.org/I48566637"]}],"countries":["KR"],"is_corresponding":false,"raw_author_name":"Joohwan Hong","raw_affiliation_strings":["Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR"],"raw_orcid":"https://orcid.org/0000-0003-3364-3080","affiliations":[{"raw_affiliation_string":"Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR","institution_ids":["https://openalex.org/I48566637"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5100366482","display_name":"Yongjae Lee","orcid":"https://orcid.org/0000-0002-5411-4340"},"institutions":[{"id":"https://openalex.org/I48566637","display_name":"Ulsan National Institute of Science and Technology","ror":"https://ror.org/017cjz748","country_code":"KR","type":"education","lineage":["https://openalex.org/I48566637"]}],"countries":["KR"],"is_corresponding":false,"raw_author_name":"Yongjae Lee","raw_affiliation_strings":["Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR"],"raw_orcid":"https://orcid.org/0000-0002-5411-4340","affiliations":[{"raw_affiliation_string":"Department of Industrial Engineering, Ulsan National Institute of Science and Technology, KR","institution_ids":["https://openalex.org/I48566637"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":9,"corresponding_author_ids":["https://openalex.org/A5101443187"],"corresponding_institution_ids":["https://openalex.org/I48566637"],"apc_list":null,"apc_paid":null,"fwci":3.3251,"has_fulltext":false,"cited_by_count":14,"citation_normalized_percentile":{"value":0.92573992,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":98,"max":99},"biblio":{"volume":null,"issue":null,"first_page":"383","last_page":"391"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":0.9976999759674072,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":0.9976999759674072,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13083","display_name":"Advanced Text Analysis Techniques","score":0.977400004863739,"subfield":{"id":"https://openalex.org/subfields/1702","display_name":"Artificial Intelligence"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10664","display_name":"Sentiment Analysis and Opinion Mining","score":0.9563999772071838,"subfield":{"id":"https://openalex.org/subfields/1702","display_name":"Artificial Intelligence"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/construct","display_name":"Construct (python library)","score":0.8277827501296997},{"id":"https://openalex.org/keywords/investment","display_name":"Investment (military)","score":0.5525257587432861},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.5228710174560547},{"id":"https://openalex.org/keywords/test","display_name":"Test (biology)","score":0.505549430847168},{"id":"https://openalex.org/keywords/sentiment-analysis","display_name":"Sentiment analysis","score":0.4530205726623535},{"id":"https://openalex.org/keywords/code","display_name":"Code (set theory)","score":0.4151570200920105},{"id":"https://openalex.org/keywords/natural-language-processing","display_name":"Natural language processing","score":0.3674013018608093},{"id":"https://openalex.org/keywords/artificial-intelligence","display_name":"Artificial intelligence","score":0.35018348693847656},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.3453771471977234},{"id":"https://openalex.org/keywords/political-science","display_name":"Political science","score":0.167903333902359},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.16212207078933716}],"concepts":[{"id":"https://openalex.org/C2780801425","wikidata":"https://www.wikidata.org/wiki/Q5164392","display_name":"Construct (python library)","level":2,"score":0.8277827501296997},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5525257587432861},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.5228710174560547},{"id":"https://openalex.org/C2777267654","wikidata":"https://www.wikidata.org/wiki/Q3519023","display_name":"Test (biology)","level":2,"score":0.505549430847168},{"id":"https://openalex.org/C66402592","wikidata":"https://www.wikidata.org/wiki/Q2271421","display_name":"Sentiment analysis","level":2,"score":0.4530205726623535},{"id":"https://openalex.org/C2776760102","wikidata":"https://www.wikidata.org/wiki/Q5139990","display_name":"Code (set theory)","level":3,"score":0.4151570200920105},{"id":"https://openalex.org/C204321447","wikidata":"https://www.wikidata.org/wiki/Q30642","display_name":"Natural language processing","level":1,"score":0.3674013018608093},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.35018348693847656},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3453771471977234},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.167903333902359},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.16212207078933716},{"id":"https://openalex.org/C177264268","wikidata":"https://www.wikidata.org/wiki/Q1514741","display_name":"Set (abstract data type)","level":2,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1145/3604237.3627721","is_oa":false,"landing_page_url":"https://doi.org/10.1145/3604237.3627721","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"4th ACM International Conference on AI in Finance","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/4","score":0.4000000059604645,"display_name":"Quality Education"}],"awards":[{"id":"https://openalex.org/G8034691652","display_name":null,"funder_award_id":"1.230064.01","funder_id":"https://openalex.org/F4320323817","funder_display_name":"Universitas Brawijaya"}],"funders":[{"id":"https://openalex.org/F4320323817","display_name":"Universitas Brawijaya","ror":"https://ror.org/01wk3d929"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":24,"referenced_works":["https://openalex.org/W1259090559","https://openalex.org/W1518014706","https://openalex.org/W1964206504","https://openalex.org/W2160841369","https://openalex.org/W2317297277","https://openalex.org/W2492461111","https://openalex.org/W2506824403","https://openalex.org/W2560674852","https://openalex.org/W2625464253","https://openalex.org/W2807646980","https://openalex.org/W2907262778","https://openalex.org/W3006401393","https://openalex.org/W3124766520","https://openalex.org/W3124798136","https://openalex.org/W3125916087","https://openalex.org/W3125952890","https://openalex.org/W3137704450","https://openalex.org/W3159523993","https://openalex.org/W3206339540","https://openalex.org/W4289779041","https://openalex.org/W4318014888","https://openalex.org/W4364320763","https://openalex.org/W4379030417","https://openalex.org/W4385421379"],"related_works":["https://openalex.org/W2366107444","https://openalex.org/W4388145910","https://openalex.org/W1976205134","https://openalex.org/W2381570729","https://openalex.org/W4248336175","https://openalex.org/W3009369890","https://openalex.org/W2031260042","https://openalex.org/W2391445434","https://openalex.org/W2548633793","https://openalex.org/W3089396779"],"abstract_inverted_index":{"This":[0],"paper":[1],"examines":[2],"the":[3,16,26,51,56,65,72,108,125,131,140,159],"use":[4],"of":[5,19,49,55,64,74,117,127,134],"Large":[6],"Language":[7],"Models":[8],"(LLMs),":[9],"specifically":[10],"BERT-based":[11],"models":[12,46],"and":[13,53,84,97,111,123,137,145],"GPT-3.5,":[14],"in":[15,29,129,154],"sentiment":[17,75,132,141],"analysis":[18,133],"Korean":[20,90,109,112],"financial":[21,113,135],"analyst":[22,91],"reports.":[23,160],"Due":[24],"to":[25,82,121,143],"specialized":[27],"language":[28,34,110],"these":[30,78,151],"reports,":[31,79,136],"traditional":[32],"natural":[33],"processing":[35],"techniques":[36],"often":[37],"prove":[38],"insufficient,":[39],"making":[40],"LLMs":[41,105,128],"a":[42,60,98],"better":[43],"alternative.":[44],"These":[45],"are":[47],"capable":[48],"understanding":[50],"complexity":[52],"subtlety":[54],"language,":[57],"allowing":[58],"for":[59,107],"more":[61],"nuanced":[62],"interpretation":[63],"data.":[66],"We":[67],"focus":[68],"our":[69],"study":[70,119],"on":[71],"extraction":[73],"scores":[76,142],"from":[77,158],"using":[80],"them":[81],"construct":[83,144],"test":[85,146],"investment":[86,147],"strategies.":[87],"Given":[88],"that":[89],"reports":[92],"present":[93],"unique":[94],"linguistic":[95],"challenges":[96],"significant":[99],"\u2018buy\u2019":[100],"recommendation":[101],"bias,":[102],"we":[103],"employ":[104],"fine-tuned":[106],"texts.":[114],"The":[115,161],"aim":[116],"this":[118],"is":[120,163],"investigate":[122],"compare":[124],"effectiveness":[126],"enhancing":[130],"subsequently":[138],"utilize":[139],"strategies,":[148],"thereby":[149],"evaluating":[150],"models\u2019":[152],"potential":[153],"extracting":[155],"valuable":[156],"insights":[157],"code":[162],"available":[164],"at":[165],"https://github.com/msraask3.":[166]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":6},{"year":2024,"cited_by_count":6}],"updated_date":"2026-06-04T09:04:59.091469","created_date":"2025-10-10T00:00:00"}