Current Analysis on
Economics & Finance

Research Article  |  Published 1 January 2019

Text Mining in Financial Information

Nida Türegün*

School of Applied Sciences, Ozyegin University, Nişantepe Mah. Orman Sok, 34794 Istanbul, Turkey

Abstract

Financial information mainly lies in financial statements, but it should be noted that financial information can be textual as well as numerals. There are many data sources (footnotes, sustainability reports, executive letters etc.) which are different from the financial statements that provide useful valuable information for decision makers. As a form of communication, text data allow researchers to understand managers’ behavioral approaches and business behavior. The analysis of these data requires text mining methods. Text mining is a large data analysis used in the analysis of semi-structural and non-structural data. Within the scope of this information, it is aimed to raise awareness on the use of text mining in non-structural data analysis in the field of financial information. In addition, the aim of this study is to provide a review of previous studies and to guide the researchers about its applications in the field of financial information.

Keywords:
Text mining, financial information, data mining, data analysis, unstructured data, text analysis.

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