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http://hdl.handle.net/10397/104623
| Title: | Can ChatGPT reduce human financial analysts’ optimistic biases? | Authors: | Li, X Feng, H Yang, H Huang, J |
Issue Date: | 2024 | Source: | Economic and political studies, 2024, v. 12, no. 1, p. 20-33 | Abstract: | 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 ChatGPT’s 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. | Keywords: | Analyst forecast ChatGPT Human–machine interaction Large language models Optimistic biases |
Publisher: | Taylor & Francis | Journal: | Economic and political studies | ISSN: | 2095-4816 | EISSN: | 2470-4024 | DOI: | 10.1080/20954816.2023.2276965 | Rights: | © 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent. The following publication Li, X., Feng, H., Yang, H., & Huang, J. (2023). Can ChatGPT reduce human financial analysts’ optimistic biases? Economic and Political Studies, 12(1), 20-33 is available at https://doi.org/10.1080/20954816.2023.2276965. |
| Appears in Collections: | Journal/Magazine Article |
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|---|---|---|---|---|
| Li_ChatGPT_Reduce_Human.pdf | 2.21 MB | Adobe PDF | View/Open |
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