首页|Can ChatGPT reduce human financial analysts'optimistic biases?

Can ChatGPT reduce human financial analysts'optimistic biases?

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This paper examines the potential of ChatGPT,a large language model,as a financial advisor for listed firm performance forecasts.We focus on the constituent stocks of the China Securities Index 300 and compare ChatGPTs forecasts for major financial performance measures with human analysts'forecasts and the realised values.Our findings suggest that ChatGPT can correct the optimistic biases of human analysts.This study contributes to the literature by exploring the potential of ChatGPT as a financial advisor and demonstrating its role in reducing human biases in financial decision-making.

ChatGPTlarge language modelsanalyst forecastoptimistic biaseshuman-machine interaction

Xiaoyang Li、Haoming Feng、Hailong Yang、Jiyuan Huang

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School of Accounting and Finance,The Hong Kong Polytechnic University,Hong Kong SAR,China

School of Finance,Renmin University of China,Beijing,China

Department of Banking and Finance,University of Zurich,Zurich,Switzerland

Swiss Finance Institute,Zurich,Switzerland

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National Social Science Foundation of China for financial supportNational Natural Science Foundation of China for financial supportSwiss National Science Foundation(SNSF)project'Trading and Financing during Market Stress'

20ZDA05372303197100018_172679

2024

10.1080/20954816.2023.2276965

经济与政治研究(英文版)

经济与政治研究(英文版)

ISSN：
年,卷(期)：2024.12(1)
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