FinBERT : A Large Language Model for Extracting Information from Financial Text*

FinBERT : A Large Language Model for Extracting Information from Financial Text* ABSTRACT We develop FinBERT, a state‐of‐the‐art large language model that adapts to the finance domain. We show that FinBERT incorporates finance knowledge and can better summarize contextual information in financial texts. Using a sample of researcher‐labeled sentences from analyst reports, we document that FinBERT substantially outperforms the Loughran and McDonald dictionary and other machine learning algorithms...