E. M. Asensio, G. Magallán, L. Pérez, C. D. de Angelo
{"title":"Short-Term Power Demand Prediction for Energy Management of an Electric Vehicle Based on Batteries and Ultracapacitors","authors":"E. M. Asensio, G. Magallán, L. Pérez, C. D. de Angelo","doi":"10.2139/ssrn.3899827","DOIUrl":"https://doi.org/10.2139/ssrn.3899827","url":null,"abstract":"","PeriodicalId":74863,"journal":{"name":"SSRN","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68663859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We examine how the announcement of several large institutional investors to divest from fossil fuel stocks affects the systematic risk exposures of an equity portfolio. We find that fossil fuel stocks exhibit a highly significant positive exposure toward changes in the oil price. Consistent with this result, we observe that fossil fuel stocks outperform strongly during oil bull markets and underperform strongly during oil bear markets. For bull and bear scenarios concerning the energy sector itself, we find even more pronounced results. Within the equity market, the materials sector appears to offer the best hedge for fossil fuel stocks, but this sector also tends to have a high carbon footprint and environmental issues. Oil futures could be a direct hedge, but may be even less acceptable to investors who do not want fossil fuel exposure. Altogether, we conclude that excluding fossil fuel stocks comes down to an active bet against the oil price, which makes a portfolio vulnerable to significant underperformance in the short and medium term.
{"title":"Betting Against Oil: The Implications of Divesting from Fossil Fuel Stocks","authors":"David Blitz","doi":"10.2139/ssrn.3976267","DOIUrl":"https://doi.org/10.2139/ssrn.3976267","url":null,"abstract":"We examine how the announcement of several large institutional investors to divest from fossil fuel stocks affects the systematic risk exposures of an equity portfolio. We find that fossil fuel stocks exhibit a highly significant positive exposure toward changes in the oil price. Consistent with this result, we observe that fossil fuel stocks outperform strongly during oil bull markets and underperform strongly during oil bear markets. For bull and bear scenarios concerning the energy sector itself, we find even more pronounced results. Within the equity market, the materials sector appears to offer the best hedge for fossil fuel stocks, but this sector also tends to have a high carbon footprint and environmental issues. Oil futures could be a direct hedge, but may be even less acceptable to investors who do not want fossil fuel exposure. Altogether, we conclude that excluding fossil fuel stocks comes down to an active bet against the oil price, which makes a portfolio vulnerable to significant underperformance in the short and medium term.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":"2 1","pages":"95 - 106"},"PeriodicalIF":0.0,"publicationDate":"2022-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41559270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
By extending Cumulant Generating Function-based pricing formulas to a two-good economy (non-housing and housing), we obtain closed-form solutions for asset prices. The presence of housing impacts risk aversion and induces time variation that is priced in the model. Since housing also brings about composition risk, we show that it introduces endogenously a long-run risk component into the consumption bundle dynamics. Estimating the model over the period 1959 -– 2020, we show that rare booms and busts events in housing expenditures is determinant in obtaining moderate housing risk premium and housing excess return volatility, both in line with empirical results. The real interest rate and both the level and volatility of the equity risk premium also fit the data owing to the presence of the COVID period into our sample period.
{"title":"Housing, Risk Aversion and Asset Prices","authors":"Abraham Lioui, Messaoud Chibane, Poncet Patrice","doi":"10.2139/ssrn.2909043","DOIUrl":"https://doi.org/10.2139/ssrn.2909043","url":null,"abstract":"By extending Cumulant Generating Function-based pricing formulas to a two-good economy (non-housing and housing), we obtain closed-form solutions for asset prices. The presence of housing impacts risk aversion and induces time variation that is priced in the model. Since housing also brings about composition risk, we show that it introduces endogenously a long-run risk component into the consumption bundle dynamics. Estimating the model over the period 1959 -– 2020, we show that rare booms and busts events in housing expenditures is determinant in obtaining moderate housing risk premium and housing excess return volatility, both in line with empirical results. The real interest rate and both the level and volatility of the equity risk premium also fit the data owing to the presence of the COVID period into our sample period.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68427117","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Justin E. Holz, Rafael J Jimenez Duran, Eduardo Laguna-Müggenburg
Thirty-four states prohibit price increases during emergencies and many individuals take costly actions to report violators. We use an experiment to measure the willingness to pay to report sellers who increase prices of personal protective equipment. Over 75% of subjects pay to report even if others are willing to purchase at those prices. The willingness to pay is polarized and increases with price. We argue that reports contain information about repugnance—a desire to prevent third-party transactions at increased prices. The mechanism driving reports varies by good: we find a distaste for profits for hand sanitizers but not for face masks.
{"title":"Estimating Repugnance Toward Price Gouging With Incentivized Consumer Reports","authors":"Justin E. Holz, Rafael J Jimenez Duran, Eduardo Laguna-Müggenburg","doi":"10.2139/ssrn.3750332","DOIUrl":"https://doi.org/10.2139/ssrn.3750332","url":null,"abstract":"Thirty-four states prohibit price increases during emergencies and many individuals take costly actions to report violators. We use an experiment to measure the willingness to pay to report sellers who increase prices of personal protective equipment. Over 75% of subjects pay to report even if others are willing to purchase at those prices. The willingness to pay is polarized and increases with price. We argue that reports contain information about repugnance—a desire to prevent third-party transactions at increased prices. The mechanism driving reports varies by good: we find a distaste for profits for hand sanitizers but not for face masks.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":"44 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68636202","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Companies often attempt to manage their earnings, which is generally considered as unethical behavior that negatively affects earnings quality. In recent years, the incidence of real activity-based manipulation (RM), a form of earnings management, has increased. Unlike accrual-based manipulation, RM requires cooperation between top management and frontline employees. However, previous research has not clarified how top managers lead subordinates to engage in RM. The concept of unethical pro-organizational behavior (UPB) may be useful in clarifying this point. This is because RM can be considered as a form of UPB for employees. Therefore, this study analyzes the relationship between budget target setting, which is an important management element in almost all companies, and employees’ willingness to engage in UPB (WUPB). For this analysis, we use data from a web-based survey of 450 employees in the marketing and sales departments of Japanese companies. Our multivariate regression analysis shows that the relationship between the difficulty of budget targets and WUPB is nonlinear and that WUPB is greatest for so-called stretch targets, which are generally somewhat difficult to achieve. Moreover, WUPB is greater when budget targets are more flexible. These results suggest that earnings management may not only be a consequence of direct actions aimed at it, but also a result of the process of setting and achieving targets. This study may provide insights to bridge the gap between research and practice on earnings management.
{"title":"Opening the black box: Does target setting lead employees to engage in unethical behavior for the organization?","authors":"Kazunori Fukushima, A. Yamada","doi":"10.2139/SSRN.3957913","DOIUrl":"https://doi.org/10.2139/SSRN.3957913","url":null,"abstract":"Companies often attempt to manage their earnings, which is generally considered as unethical behavior that negatively affects earnings quality. In recent years, the incidence of real activity-based manipulation (RM), a form of earnings management, has increased. Unlike accrual-based manipulation, RM requires cooperation between top management and frontline employees. However, previous research has not clarified how top managers lead subordinates to engage in RM. The concept of unethical pro-organizational behavior (UPB) may be useful in clarifying this point. This is because RM can be considered as a form of UPB for employees. Therefore, this study analyzes the relationship between budget target setting, which is an important management element in almost all companies, and employees’ willingness to engage in UPB (WUPB). For this analysis, we use data from a web-based survey of 450 employees in the marketing and sales departments of Japanese companies. Our multivariate regression analysis shows that the relationship between the difficulty of budget targets and WUPB is nonlinear and that WUPB is greatest for so-called stretch targets, which are generally somewhat difficult to achieve. Moreover, WUPB is greater when budget targets are more flexible. These results suggest that earnings management may not only be a consequence of direct actions aimed at it, but also a result of the process of setting and achieving targets. This study may provide insights to bridge the gap between research and practice on earnings management.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48219987","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
At the global level, the rules which directly or coincidentally regulate offshore energy production activities stand out as being mostly sectoral and recommendatory. Global agreements do not offer concrete environmental standards applicable to offshore energy production activities, but they create normatively modest obligations of conduct, which allow States wide discretion in their implementation. By contrast, most of the specific environmental rules and standards concerning energy activities at sea have been developed at the regional level. The role of regional agreements appears to be embraced by UNCLOS, which accommodates and, in certain instances, encourages the development of regional agreements for the protection of the marine environment. The multitude of references to regional rules and forms of cooperation in UNCLOS is indicative of the significance of regionalism to address certain sources of pollution. However, not all energy-producing marine regions are subject to normatively specific rules and standards to regulate these activities. Theoretically, the absence of such standards might have significant environmental repercussions. Given the interconnectedness of seas and oceans, the success of a regional agreement in achieving its environmental objectives depends considerably on the consistent efforts in the other areas of the world to equally protect and preserve the marine environment. Against that background, it is crucial to examine not only the relevance of regional agreements for the geographical areas they were developed to protect but also whether the regional rules and standards can offer solutions, which may be applicable in other marine regions. In particular, it is important to assess the legal relevance of these region-specific rules and standards for other marine areas, for which there are no specific rules on the environmental regulation of offshore energy production activities. The aim of this paper is two-fold as it purports to examine the role of regional agreements for the regulation of offshore energy production activities both within and beyond their geographical scope of application. On that account, the contribution first examines the role of regional agreements in identifying, adapting and updating the standard of diligence that States must exercise in the respective marine areas. In that respect, it briefly discusses the relevant normative and institutional developments in four selected regions, namely the Mediterranean Sea, the Baltic Sea, the North-East Atlantic and the Arctic Ocean. Drawing on these developments, it extrapolates the significant contribution of the regional agreements in developing future-proof and inclusive regulation of offshore energy production activities. In addition, the paper posits that insofar as these regional agreements could inform the interpretation of the duty to protect the marine environment in the context of offshore energy production under UNCLOS, they could also shape the
{"title":"Regionalism and Marine Environmental Protection: the Case of Offshore Energy Production","authors":"N. Giannopoulos","doi":"10.2139/SSRN.3770726","DOIUrl":"https://doi.org/10.2139/SSRN.3770726","url":null,"abstract":"At the global level, the rules which directly or coincidentally regulate offshore energy production activities stand out as being mostly sectoral and recommendatory. Global agreements do not offer concrete environmental standards applicable to offshore energy production activities, but they create normatively modest obligations of conduct, which allow States wide discretion in their implementation. By contrast, most of the specific environmental rules and standards concerning energy activities at sea have been developed at the regional level. The role of regional agreements appears to be embraced by UNCLOS, which accommodates and, in certain instances, encourages the development of regional agreements for the protection of the marine environment. The multitude of references to regional rules and forms of cooperation in UNCLOS is indicative of the significance of regionalism to address certain sources of pollution. \u0000However, not all energy-producing marine regions are subject to normatively specific rules and standards to regulate these activities. Theoretically, the absence of such standards might have significant environmental repercussions. Given the interconnectedness of seas and oceans, the success of a regional agreement in achieving its environmental objectives depends considerably on the consistent efforts in the other areas of the world to equally protect and preserve the marine environment. Against that background, it is crucial to examine not only the relevance of regional agreements for the geographical areas they were developed to protect but also whether the regional rules and standards can offer solutions, which may be applicable in other marine regions. In particular, it is important to assess the legal relevance of these region-specific rules and standards for other marine areas, for which there are no specific rules on the environmental regulation of offshore energy production activities. \u0000The aim of this paper is two-fold as it purports to examine the role of regional agreements for the regulation of offshore energy production activities both within and beyond their geographical scope of application. On that account, the contribution first examines the role of regional agreements in identifying, adapting and updating the standard of diligence that States must exercise in the respective marine areas. In that respect, it briefly discusses the relevant normative and institutional developments in four selected regions, namely the Mediterranean Sea, the Baltic Sea, the North-East Atlantic and the Arctic Ocean. Drawing on these developments, it extrapolates the significant contribution of the regional agreements in developing future-proof and inclusive regulation of offshore energy production activities. In addition, the paper posits that insofar as these regional agreements could inform the interpretation of the duty to protect the marine environment in the context of offshore energy production under UNCLOS, they could also shape the","PeriodicalId":74863,"journal":{"name":"SSRN","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68641676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Betty Rodríguez-Cortés, G. Hurtado-Alvarado, R. C. Martínez, Luis León-Mercado, M. Prager-Khoutorsky, R. Buijs
Circulating glucose is maintained within very narrow boundaries with less than 5% variation at a given time of the day. However, over the circadian cycle, glycemia changes with almost 50% difference. How the suprachiasmatic nucleus, the biological clock, maintains these day-night variations with such small variations remains obscure. We show that via vasopressin release at the beginning of the sleep phase, the suprachiasmatic nucleus increases the glucose transporter GLUT1 in tanycytes. Hereby GLUT1 promotes glucose entrance into the arcuate nucleus, adjusting circulating glucose to its lowest level. Conversely, blocking vasopressin activity or the GLUT1 transporter at the daily trough of glycemia, increases circulating glucose to levels usually seen at the peak of the rhythm. Thus, biological clock-controlled mechanisms promoting glucose entry into the arcuate nucleus before sleep sets the circadian low-glucose levels.Fasting promotes an increase in arcuate GLUT1 and glucose, followed by lowering circulating glucose levels, supporting the essential role of this mechanism for controlling circulating glucose levels.
{"title":"Circadian entry of glucose into the arcuate nucleus determines the rhythm in blood glycemia","authors":"Betty Rodríguez-Cortés, G. Hurtado-Alvarado, R. C. Martínez, Luis León-Mercado, M. Prager-Khoutorsky, R. Buijs","doi":"10.17632/M4TJFJJD83.1","DOIUrl":"https://doi.org/10.17632/M4TJFJJD83.1","url":null,"abstract":"Circulating glucose is maintained within very narrow boundaries with less than 5% variation at a given time of the day. However, over the circadian cycle, glycemia changes with almost 50% difference. How the suprachiasmatic nucleus, the biological clock, maintains these day-night variations with such small variations remains obscure. We show that via vasopressin release at the beginning of the sleep phase, the suprachiasmatic nucleus increases the glucose transporter GLUT1 in tanycytes. Hereby GLUT1 promotes glucose entrance into the arcuate nucleus, adjusting circulating glucose to its lowest level. Conversely, blocking vasopressin activity or the GLUT1 transporter at the daily trough of glycemia, increases circulating glucose to levels usually seen at the peak of the rhythm. Thus, biological clock-controlled mechanisms promoting glucose entry into the arcuate nucleus before sleep sets the circadian low-glucose levels.Fasting promotes an increase in arcuate GLUT1 and glucose, followed by lowering circulating glucose levels, supporting the essential role of this mechanism for controlling circulating glucose levels.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47070207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Alexander Swade, Harald Lohre, M. Shackleton, Sandra Nolte, Scott Hixon, Jay H Raol
Investors face similar macroeconomic risks and opportunities regardless of their individual investment preferences. To best navigate growth and inflation concerns, the authors propose building macro factor–mimicking portfolios diversified across asset classes and style factors. They focus on the macro factors growth, inflation, and defensive. Their approach allows for shaping the macroeconomic risk exposure of a given portfolio by applying systematic macro factor completion to effectively address specific economic outcomes.
{"title":"Macro Factor Investing with Style","authors":"Alexander Swade, Harald Lohre, M. Shackleton, Sandra Nolte, Scott Hixon, Jay H Raol","doi":"10.2139/ssrn.3930295","DOIUrl":"https://doi.org/10.2139/ssrn.3930295","url":null,"abstract":"Investors face similar macroeconomic risks and opportunities regardless of their individual investment preferences. To best navigate growth and inflation concerns, the authors propose building macro factor–mimicking portfolios diversified across asset classes and style factors. They focus on the macro factors growth, inflation, and defensive. Their approach allows for shaping the macroeconomic risk exposure of a given portfolio by applying systematic macro factor completion to effectively address specific economic outcomes.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":"48 1","pages":"80 - 104"},"PeriodicalIF":0.0,"publicationDate":"2021-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43788985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This paper addresses the recent mixed evidence on the relationship between interest rates and corporate liquidity. I find that high (low) interest rates are associated with high (low) short-term investments and low (high) cash due to the opportunity cost of holding the latter. Further, I show that interest rates are negatively related to total liquid assets, i.e., the sum of cash and short-term investments. These patterns suggest a two-level demand for liquidity. At the top level, there is demand for overall liquidity and an increase in interest rates increases its price resulting in a negative effect. At the bottom level, once the firm has decided its overall level of liquidity, it chooses what fraction to hold in cash versus short-term investments. An increase in interest rates increases the price of cash relative to short-term investments resulting in a decrease in the former and an increase in the latter.
{"title":"Interest Rates, Cash and Short-Term Investments","authors":"Bektemir Ysmailov","doi":"10.2139/SSRN.3052667","DOIUrl":"https://doi.org/10.2139/SSRN.3052667","url":null,"abstract":"Abstract This paper addresses the recent mixed evidence on the relationship between interest rates and corporate liquidity. I find that high (low) interest rates are associated with high (low) short-term investments and low (high) cash due to the opportunity cost of holding the latter. Further, I show that interest rates are negatively related to total liquid assets, i.e., the sum of cash and short-term investments. These patterns suggest a two-level demand for liquidity. At the top level, there is demand for overall liquidity and an increase in interest rates increases its price resulting in a negative effect. At the bottom level, once the firm has decided its overall level of liquidity, it chooses what fraction to hold in cash versus short-term investments. An increase in interest rates increases the price of cash relative to short-term investments resulting in a decrease in the former and an increase in the latter.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47576356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Asier Gutiérrez-Fandiño, M. N. Alonso, Petter N. Kolm, Jordi Armengol-Estap'e
In this article, the authors introduce a new language representation model for sentiment analysis of financial text called financial embedding analysis of sentiment (FinEAS). The new approach is based on transformer language models that are explicitly developed for sentence-level analysis. By building upon Sentence-BERT, a sentence-level extension of vanilla BERT, the authors argue that the new approach produces sentence embeddings of higher quality that significantly improve sentence/document-level tasks such as financial sentiment analysis. Using a large-scale financial news dataset from RavenPack, they demonstrate that for financial sentiment analysis the new model outperforms several state-of-the-art models such as BERT, a bidirectional LSTM, and FinBERT, a financial-domain-specific BERT. The authors make the model code publicly available.
{"title":"FinEAS: Financial Embedding Analysis of Sentiment","authors":"Asier Gutiérrez-Fandiño, M. N. Alonso, Petter N. Kolm, Jordi Armengol-Estap'e","doi":"10.2139/ssrn.4028072","DOIUrl":"https://doi.org/10.2139/ssrn.4028072","url":null,"abstract":"In this article, the authors introduce a new language representation model for sentiment analysis of financial text called financial embedding analysis of sentiment (FinEAS). The new approach is based on transformer language models that are explicitly developed for sentence-level analysis. By building upon Sentence-BERT, a sentence-level extension of vanilla BERT, the authors argue that the new approach produces sentence embeddings of higher quality that significantly improve sentence/document-level tasks such as financial sentiment analysis. Using a large-scale financial news dataset from RavenPack, they demonstrate that for financial sentiment analysis the new model outperforms several state-of-the-art models such as BERT, a bidirectional LSTM, and FinBERT, a financial-domain-specific BERT. The authors make the model code publicly available.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":"4 1","pages":"45 - 53"},"PeriodicalIF":0.0,"publicationDate":"2021-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45602930","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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