2 papers
q-fin.PR2025
Do Sell-side Analyst Reports Have Investment Value?
Linying Lv
This paper documents novel investment value in analyst report text. Using 1.2 million reports from 2000-2023, I embed narratives with large language models (LLMs) and fit machine l…
q-fin.GN2025
The Value of Information from Sell-side Analysts
Linying Lv
I examine the value of information from sell-side analysts by analyzing a large corpus of their written reports. Using embeddings from state-of-the-art large language models, I sho…