Papers for
finance analytics teams
Papers whose findings have a practical use for this group, as judged from the abstract. Open a paper to read what it means in practice.
Corpus quality improves but does not boost question retrieval accuracy
Corpus Quality Improves, Retrieval Utility Does Not: An Ablation of Preprocessing and Refinement in a Speech-to-QA Pipeline
Abstract: Practitioners building training corpora with a pipeline of language models keep a preprocessing or refinement (post-process) stage when switching it on raises the corpus quality. We ablate a production pipeline that turns conference speech into question-answer pairs. The preprocessing stage rewrites the transcript, and the refinement stage filters the generated pairs. Switching each on and off gives four corpora from the same 40 Korean medical and finance sessions. On the corpus itself, quality rises as the stages switch on. Four LLM judges and six human domain experts rank the four corpora the same way, and the fully refined corpus leads by +0.18 and +0.22 on a 1-5 scale. We then ask whether that gain carries downstream. We supply each corpus to six models at inference and measure retrieval accuracy. The ranking does not hold. Enabling the transcript rewrite lowers retrieval accuracy by 0.061, the only stage effect that survives correction for multiple comparisons. That stage also reads the whole session, so it almost doubles the cost of one. With both stages on, accuracy does not change. An equivalence test we declared in advance confirms this. The corpus itself is clearly valuable. It lifts retrieval accuracy from 0.231 to 0.748 in every model and domain we test. More than a third of its pairs carry knowledge that neither of two frontier models produces on its own. On our data, the null does not come from weak corpora. A rising score on a rubric of this kind did not predict what the corpus holds for a model.
Metric rates individual skill across varied tasks without direct competition
All against the machine: the Solo score for rating skill in variable environments
Abstract: We propose a distribution-free metric to rate individual skill in ``player-versus-environment'' settings, where participants face heterogeneous tasks without direct opponents. Such settings are common in digital platforms, games, education, finance, and the benchmark evaluation of AI agents. They combine high randomness, tasks of widely varying difficulty, and unknown heterogeneity across individuals. Our metric maps each task outcome to a bounded performance score with zero population mean and variance bounded by $1/3$, regardless of the outcome distribution, so that scores are directly comparable across tasks. Aggregating these scores over tasks yields an interpretable skill score for each individual (the ``Solo'' rating), and a reshuffling null model tests whether that score exceeds what chance alone would produce. We validate the approach on the progression of $2\times10^5$ players in the mobile games Candy Crush Saga and Bubble Witch 3 Saga. The metric identifies high- and low-skill players with high statistical confidence, their classification persists over hundreds of subsequent levels, and a windowed version of the score tracks changes in performance along progression.