SIG DSA - Data Science and Analytics for Decision Support
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Paper Type
Complete
Paper Number
1408
Description
In recent years, we have seen a growing interest in the automated analysis of financial statements using AI methods. Starting from classical models motivated by financial ratios, the inclusion of additional data from financial statements, but also external data sources, plays an increasing role to improve the accuracy of existing models. We show that a closer look at the choice of location in terms of industry specifics and competition provide suitable information to optimize AI-based financial business forecasting to meet real-world requirements. Furthermore, we address the fact that competition as such has no impact on the length of reporting in financial statements with respect to their industries. This work contributes, first, by assessing the impact of competition on a company's annual financial statement, and second, by offering analysts a classification of the importance of data for forecasting.
Recommended Citation
Nießner, Tobias; Nießner, Stefan; and Schumann, Matthias, "Influence of corporate industry affiliation in Financial Business Forecasting: A data analysis concerning competition" (2022). AMCIS 2022 Proceedings. 12.
https://aisel.aisnet.org/amcis2022/sig_dsa/sig_dsa/12
Influence of corporate industry affiliation in Financial Business Forecasting: A data analysis concerning competition
In recent years, we have seen a growing interest in the automated analysis of financial statements using AI methods. Starting from classical models motivated by financial ratios, the inclusion of additional data from financial statements, but also external data sources, plays an increasing role to improve the accuracy of existing models. We show that a closer look at the choice of location in terms of industry specifics and competition provide suitable information to optimize AI-based financial business forecasting to meet real-world requirements. Furthermore, we address the fact that competition as such has no impact on the length of reporting in financial statements with respect to their industries. This work contributes, first, by assessing the impact of competition on a company's annual financial statement, and second, by offering analysts a classification of the importance of data for forecasting.
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