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Inform."],"published-print":{"date-parts":[[2024,7,20]]},"abstract":"<jats:p>Employing Chinese A-share market data, this study explores how news text and economic policy uncertainty (EPU) can be combined to predict a company\u2019s unanticipated earnings using the XL (extra long) Transformer and long short term memory (LSTM) models. The results show that adding news text features or the EPU index can improve the model\u2019s predictive performance. However, adding the EPU index improves the model prediction performance by a tiny amount. Next, news headlines have better predictive performance relative to news content. Meanwhile, as a supplement to news headlines, news content can further improve predictive performance. Finally, the XL-Transformer model has better predictive performance than the LSTM model, but the improvement in the effect is limited.<\/jats:p>","DOI":"10.20965\/jaciii.2024.p0776","type":"journal-article","created":{"date-parts":[[2024,7,19]],"date-time":"2024-07-19T15:05:26Z","timestamp":1721401526000},"page":"776-782","source":"Crossref","is-referenced-by-count":0,"title":["Blending News Text and Economic Policy Uncertainty to Forecast the Company\u2019s Unexpected Earnings"],"prefix":"10.20965","volume":"28","author":[{"given":"Yixin","family":"Guan","sequence":"first","affiliation":[{"name":"Research Institute of Econometrics and Statistics, Zhejiang Gongshang University, No.18 Xuezheng Street, Xiasha Education Park, Hangzhou, Zhejiang 310018, China"}]},{"given":"Jinhao","family":"Hu","sequence":"additional","affiliation":[{"name":"Research Institute of Econometrics and Statistics, Zhejiang Gongshang University, No.18 Xuezheng Street, Xiasha Education Park, Hangzhou, Zhejiang 310018, China"}]},{"given":"Yutong","family":"Wang","sequence":"additional","affiliation":[{"name":"Research Institute of Econometrics and Statistics, Zhejiang Gongshang University, No.18 Xuezheng Street, Xiasha Education Park, Hangzhou, Zhejiang 310018, China"}]},{"given":"Wentao","family":"Gu","sequence":"additional","affiliation":[{"name":"Research Institute of Econometrics and Statistics, Zhejiang Gongshang University, No.18 Xuezheng Street, Xiasha Education Park, Hangzhou, Zhejiang 310018, China"}]},{"given":"Houjiao","family":"Xi","sequence":"additional","affiliation":[{"name":"Research Institute of Econometrics and Statistics, Zhejiang Gongshang University, No.18 Xuezheng Street, Xiasha Education Park, Hangzhou, Zhejiang 310018, China"}]}],"member":"8550","published-online":{"date-parts":[[2024,7,20]]},"reference":[{"doi-asserted-by":"crossref","unstructured":"R. Ball and P. Brown, \u201cAn empirical evaluation of accounting income numbers,\u201d J. of Accounting Research, Vol.6, No.2, pp. 159-178, 1968. https:\/\/doi.org\/10.2307\/2490232","key":"key-10.20965\/jaciii.2024.p0776-1","DOI":"10.2307\/2490232"},{"doi-asserted-by":"crossref","unstructured":"J. Livnat and R. R. Mendenhall, \u201cComparing the post-earnings announcement drift for surprises calculated from analyst and time series forecasts,\u201d J. of Accounting Research, Vol.44, No.1, pp. 177-205, 2006. https:\/\/doi.org\/10.1111\/j.1475-679X.2006.00196.x","key":"key-10.20965\/jaciii.2024.p0776-2","DOI":"10.1111\/j.1475-679X.2006.00196.x"},{"doi-asserted-by":"crossref","unstructured":"C. Truong, \u201cPost-earnings announcement abnormal return in the Chinese equity market,\u201d J. of Int. 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