国内外财经文本分析研究综述

A review on text analysis in the research of finance and economics

财经领域的过往研究基于计量模型的因果推断,随着大数据与计算机算法的日渐成熟,以文本信息为代表的非结构化数据已可量化并应用到财经领域的研究中。文本信息中的语言特征,如文本可读性、文本语调和文本相似度等逐渐成为学者研究量化的重点,从而使文本分析技术应用到财经领域的研究中。本文从文本语言特征和财经领域的不同研究问题着手,对当前国内外文献进行了梳理,分析文本信息与财务信息之间的关系并指出文本分析技术未来在财经领域的发展方向,为相关领域研究者提供参考。

Previous studies in finance and economics have been based on the causal inference of econometric models.With the development of big data and computer algorithms,unstructured data represented by text information can be quantified and applied to research in finance and economics.The linguistic features of text information,such as text readability,intonation,and similarity,have gradually become the focus of scholarly research and quantification,hence,text analysis technology has been applied to research in this field.Starting from the language characteristics of text and different research issues in finance and economics,this paper combs the current domestic and foreign literature,analyzes the relationship between text and financial information,and points out direction for future development of text analysis technology to provide a reference for researchers in related fields.