재무제표 주석의 텍스트 분석 통한 재무 비율 예측 연구

Financial Footnote Analysis for Financial Ratio Predictions based on Text-Mining Techniques

초록

Since the adoption of K-IFRS(Korean International Financial Reporting Standards), the amount of financial footnotes has been increased. However, due to the stereotypical phrase and the lack of conciseness, deriving the core information from footnotes is not really easy yet. To propose a solution for this problem, this study tried financial footnote analysis for financial ratio predictions based on text-mining techniques. Using the financial statements data from 2013 to 2018, we tried to predict the earning per share (EPS) of the following quarter. We found that measured prediction errors were significantly reduced when text-mined footnotes data were jointly used. We believe this result came from the fact that discretionary financial figures, which were hardly predicted with quantitative financial data, were more correlated with footnotes texts.

키워드

Earning per share (EPS); Financial footnotes; Text mining; Machine learning; Document embedding; 주당 순이익; 재무제표 주석; 텍스트 마이닝; 기계학습; 문서 임베딩
제목
재무제표 주석의 텍스트 분석 통한 재무 비율 예측 연구
제목 (타언어)
Financial Footnote Analysis for Financial Ratio Predictions based on Text-Mining Techniques
저자
최형규; 이상용
DOI
10.15813/kmr.2020.21.2.010
발행일
2020-06
저널명
지식경영연구
권
21
호
2
페이지
177 ~ 196

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