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This research dissects financial equity research reports (ERRs) by mapping their content into categories. There is insufficient empirical analysis of the questions answered in ERRs. In particular, it is not understood how frequently certain information appears, what information is considered essential, and what information requires human judgment to distill into an ERR. The study analyzes 72 ERRs sentence-by-sentence, classifying their 4940 sentences into 169 unique question archetypes. We did not predefine the questions but derived them solely from the statements in the ERRs. This approach provides an unbiased view of the content of the observed ERRs. Subsequently, we used public corporate reports to classify the questions' potential for automation. Answers were labeled "text-extractable" if the answers to the question were accessible in corporate reports. 78.7% of the questions in ERRs can be automated. Those automatable question consist of 48.2% text-extractable (suited to processing by large language models, LLMs) and 30.5% database-extractable questions. Only 21.3% of questions require human judgment to answer. We empirically validate using Llama-3-70B and GPT-4-turbo-2024-04-09 that recent advances in language generation and information extraction enable the automation of approximately 80% of the statements in ERRs. Surprisingly, the models complement each other's strengths and weaknesses well. The research confirms that the current writing process of ERRs can likely benefit from additional automation, improving quality and efficiency. The research thus allows us to quantify the potential impacts of introducing large language models in the ERR writing process. The full question list, including the archetypes and their frequency, will be made available online after peer review., Comment: JEL classes: C45; G11; G12; G14

Deep neural networks have a good success record and are thus viewed as the best architecture choice for complex applications. Their main shortcoming has been, for a long time, the vanishing gradient which prevented the numerical optimization algorithms from acceptable convergence. A breakthrough has been achieved by the concept of residual connections -- an identity mapping parallel to a conventional layer. This concept is applicable to stacks of layers of the same dimension and substantially alleviates the vanishing gradient problem. A stack of residual connection layers can be expressed as an expansion of terms similar to the Taylor expansion. This expansion suggests the possibility of truncating the higher-order terms and receiving an architecture consisting of a single broad layer composed of all initially stacked layers in parallel. In other words, a sequential deep architecture is substituted by a parallel shallow one. Prompted by this theory, we investigated the performance capabilities of the parallel architecture in comparison to the sequential one. The computer vision datasets MNIST and CIFAR10 were used to train both architectures for a total of 6912 combinations of varying numbers of convolutional layers, numbers of filters, kernel sizes, and other meta parameters. Our findings demonstrate a surprising equivalence between the deep (sequential) and shallow (parallel) architectures. Both layouts produced similar results in terms of training and validation set loss. This discovery implies that a wide, shallow architecture can potentially replace a deep network without sacrificing performance. Such substitution has the potential to simplify network architectures, improve optimization efficiency, and accelerate the training process., Comment: to be published at KDIR2023, Rome

Sentences that present a complex syntax act as a major stumbling block for downstream Natural Language Processing applications whose predictive quality deteriorates with sentence length and complexity. The task of Text Simplification (TS) may remedy this situation. It aims to modify sentences in order to make them easier to process, using a set of rewriting operations, such as reordering, deletion, or splitting. State-of-the-art syntactic TS approaches suffer from two major drawbacks: first, they follow a very conservative approach in that they tend to retain the input rather than transforming it, and second, they ignore the cohesive nature of texts, where context spread across clauses or sentences is needed to infer the true meaning of a statement. To address these problems, we present a discourse-aware TS approach that splits and rephrases complex English sentences within the semantic context in which they occur. Based on a linguistically grounded transformation stage that uses clausal and phrasal disembedding mechanisms, complex sentences are transformed into shorter utterances with a simple canonical structure that can be easily analyzed by downstream applications. With sentence splitting, we thus address a TS task that has hardly been explored so far. Moreover, we introduce the notion of minimality in this context, as we aim to decompose source sentences into a set of self-contained minimal semantic units. To avoid breaking down the input into a disjointed sequence of statements that is difficult to interpret because important contextual information is missing, we incorporate the semantic context between the split propositions in the form of hierarchical structures and semantic relationships. In that way, we generate a semantic hierarchy of minimal propositions that leads to a novel representation of complex assertions that puts a semantic layer on top of the simplified sentences.

This research article analyzes the language used in the official statements released by the Federal Open Market Committee (FOMC) after its scheduled meetings to gain insights into the impact of FOMC official statements on financial markets and economic forecasting. The study reveals that the FOMC is careful to avoid expressing emotion in their sentences and follows a set of templates to cover economic situations. The analysis employs advanced language modeling techniques such as VADER and FinBERT, and a trial test with GPT-4. The results show that FinBERT outperforms other techniques in predicting negative sentiment accurately. However, the study also highlights the challenges and limitations of using current NLP techniques to analyze FOMC texts and suggests the potential for enhancing language models and exploring alternative approaches., Comment: 15pages, 4 figures, 5 tables

Determining an appropriate number of attention heads on one hand and the number of transformer-encoders, on the other hand, is an important choice for Computer Vision (CV) tasks using the Transformer architecture. Computing experiments confirmed the expectation that the total number of parameters has to satisfy the condition of overdetermination (i.e., number of constraints significantly exceeding the number of parameters). Then, good generalization performance can be expected. This sets the boundaries within which the number of heads and the number of transformers can be chosen. If the role of context in images to be classified can be assumed to be small, it is favorable to use multiple transformers with a low number of heads (such as one or two). In classifying objects whose class may heavily depend on the context within the image (i.e., the meaning of a patch being dependent on other patches), the number of heads is equally important as that of transformers.

The commitment to single-precision floating-point arithmetic is widespread in the deep learning community. To evaluate whether this commitment is justified, the influence of computing precision (single and double precision) on the optimization performance of the Conjugate Gradient (CG) method (a second-order optimization algorithm) and RMSprop (a first-order algorithm) has been investigated. Tests of neural networks with one to five fully connected hidden layers and moderate or strong nonlinearity with up to 4 million network parameters have been optimized for Mean Square Error (MSE). The training tasks have been set up so that their MSE minimum was known to be zero. Computing experiments have disclosed that single-precision can keep up (with superlinear convergence) with double-precision as long as line search finds an improvement. First-order methods such as RMSprop do not benefit from double precision. However, for moderately nonlinear tasks, CG is clearly superior. For strongly nonlinear tasks, both algorithm classes find only solutions fairly poor in terms of mean square error as related to the output variance. CG with double floating-point precision is superior whenever the solutions have the potential to be useful for the application goal.

In this article, we explore the shallow heuristics used by transformer-based pre-trained language models (PLMs) that are fine-tuned for natural language inference (NLI). To do so, we construct or own dataset based on syllogistic, and we evaluate a number of models' performance on our dataset. We find evidence that the models rely heavily on certain shallow heuristics, picking up on symmetries and asymmetries between premise and hypothesis. We suggest that the lack of generalization observable in our study, which is becoming a topic of lively debate in the field, means that the PLMs are currently not learning NLI, but rather spurious heuristics.

In this article, we explore the potential of transformer-based language models (LMs) to correctly represent normative statements in the legal domain, taking tax law as our use case. In our experiment, we use a variety of LMs as bases for both word- and sentence-based clusterers that are then evaluated on a small, expert-compiled test-set, consisting of real-world samples from tax law research literature that can be clearly assigned to one of four normative theories. The results of the experiment show that clusterers based on sentence-BERT-embeddings deliver the most promising results. Based on this main experiment, we make first attempts at using the best performing models in a bootstrapping loop to build classifiers that map normative claims on one of these four normative theories., Comment: 11 pages, 3 figures

We present an annotation approach to capturing emotional and cognitive empathy in student-written peer reviews on business models in German. We propose an annotation scheme that allows us to model emotional and cognitive empathy scores based on three types of review components. Also, we conducted an annotation study with three annotators based on 92 student essays to evaluate our annotation scheme. The obtained inter-rater agreement of {\alpha}=0.79 for the components and the multi-{\pi}=0.41 for the empathy scores indicate that the proposed annotation scheme successfully guides annotators to a substantial to moderate agreement. Moreover, we trained predictive models to detect the annotated empathy structures and embedded them in an adaptive writing support system for students to receive individual empathy feedback independent of an instructor, time, and location. We evaluated our tool in a peer learning exercise with 58 students and found promising results for perceived empathy skill learning, perceived feedback accuracy, and intention to use. Finally, we present our freely available corpus of 500 empathy-annotated, student-written peer reviews on business models and our annotation guidelines to encourage future research on the design and development of empathy support systems., Comment: to be published in The Joint Conference of the 59th Annual Meeting of the Association for Computational Linguistics and the 11th International Joint Conference on Natural Language Processing (ACL-IJCNLP 2021)

We present a context-preserving text simplification (TS) approach that recursively splits and rephrases complex English sentences into a semantic hierarchy of simplified sentences. Using a set of linguistically principled transformation patterns, input sentences are converted into a hierarchical representation in the form of core sentences and accompanying contexts that are linked via rhetorical relations. Hence, as opposed to previously proposed sentence splitting approaches, which commonly do not take into account discourse-level aspects, our TS approach preserves the semantic relationship of the decomposed constituents in the output. A comparative analysis with the annotations contained in the RST-DT shows that we are able to capture the contextual hierarchy between the split sentences with a precision of 89% and reach an average precision of 69% for the classification of the rhetorical relations that hold between them.

In this paper, we present a novel annotation approach to capture claims and premises of arguments and their relations in student-written persuasive peer reviews on business models in German language. We propose an annotation scheme based on annotation guidelines that allows to model claims and premises as well as support and attack relations for capturing the structure of argumentative discourse in student-written peer reviews. We conduct an annotation study with three annotators on 50 persuasive essays to evaluate our annotation scheme. The obtained inter-rater agreement of $\alpha=0.57$ for argument components and $\alpha=0.49$ for argumentative relations indicates that the proposed annotation scheme successfully guides annotators to moderate agreement. Finally, we present our freely available corpus of 1,000 persuasive student-written peer reviews on business models and our annotation guidelines to encourage future research on the design and development of argumentative writing support systems for students., Comment: to be published in The 28th International Conference on Computational Linguistics (COLING 2020)

Text entailment, the task of determining whether a piece of text logically follows from another piece of text, is a key component in NLP, providing input for many semantic applications such as question answering, text summarization, information extraction, and machine translation, among others. Entailment scenarios can range from a simple syntactic variation to more complex semantic relationships between pieces of text, but most approaches try a one-size-fits-all solution that usually favors some scenario to the detriment of another. Furthermore, for entailments requiring world knowledge, most systems still work as a "black box", providing a yes/no answer that does not explain the underlying reasoning process. In this work, we introduce XTE - Explainable Text Entailment - a novel composite approach for recognizing text entailment which analyzes the entailment pair to decide whether it must be resolved syntactically or semantically. Also, if a semantic matching is involved, we make the answer interpretable, using external knowledge bases composed of structured lexical definitions to generate natural language justifications that explain the semantic relationship holding between the pieces of text. Besides outperforming well-established entailment algorithms, our composite approach gives an important step towards Explainable AI, allowing the inference model interpretation, making the semantic reasoning process explicit and understandable., Comment: 44 pages, 7 figures. Submitted to the Artificial Intelligence Journal

In the last years, image classification processes like neural networks in the area of art-history and Heritage Informatics have experienced a broad distribution (Lang and Ommer 2018). These methods face several challenges, including the handling of comparatively small amounts of data as well as high-dimensional data in the Digital Humanities. Here, a Convolutional Neural Network (CNN) is used that output is not, as usual, a series of flat text labels but a series of semantically loaded vectors. These vectors result from a Distributional Semantic Model (DSM) which is generated from an in-domain text corpus. ----- In den letzten Jahren hat die Verwendung von Bildklassifizierungsverfahren wie neuronalen Netzwerken auch im Bereich der historischen Bildwissenschaften und der Heritage Informatics weite Verbreitung gefunden (Lang und Ommer 2018). Diese Verfahren stehen dabei vor einer Reihe von Herausforderungen, darunter dem Umgangmit den vergleichsweise kleinen Datenmengen sowie zugleich hochdimensionalen Da-tenr\"aumen in den digitalen Geisteswissenschaften. Meist bilden diese Methoden dieKlassifizierung auf einen vergleichsweise flachen Raum ab. Dieser flache Zugang verliert im Bem\"uhen um ontologische Eindeutigkeit eine Reihe von relevanten Dimensionen, darunter taxonomische, mereologische und assoziative Beziehungen zwischenden Klassen beziehungsweise dem nicht formalisierten Kontext. Dabei wird ein Convolutional Neural Network (CNN) genutzt, dessen Ausgabe im Trainingsprozess, anders als herk\"ommlich, nicht auf einer Serie flacher Textlabel beruht, sondern auf einer Serie von Vektoren. Diese Vektoren resultieren aus einem Distributional Semantic Model (DSM), welches aus einem Dom\"ane-Textkorpus generiert wird., Comment: 19 pages, second half in German as published in DHd2020

We introduce DisSim, a discourse-aware sentence splitting framework for English and German whose goal is to transform syntactically complex sentences into an intermediate representation that presents a simple and more regular structure which is easier to process for downstream semantic applications. For this purpose, we turn input sentences into a two-layered semantic hierarchy in the form of core facts and accompanying contexts, while identifying the rhetorical relations that hold between them. In that way, we preserve the coherence structure of the input and, hence, its interpretability for downstream tasks.

We compiled a new sentence splitting corpus that is composed of 203K pairs of aligned complex source and simplified target sentences. Contrary to previously proposed text simplification corpora, which contain only a small number of split examples, we present a dataset where each input sentence is broken down into a set of minimal propositions, i.e. a sequence of sound, self-contained utterances with each of them presenting a minimal semantic unit that cannot be further decomposed into meaningful propositions. This corpus is useful for developing sentence splitting approaches that learn how to transform sentences with a complex linguistic structure into a fine-grained representation of short sentences that present a simple and more regular structure which is easier to process for downstream applications and thus facilitates and improves their performance.

There is some theoretical evidence that deep neural networks with multiple hidden layers have a potential for more efficient representation of multidimensional mappings than shallow networks with a single hidden layer. The question is whether it is possible to exploit this theoretical advantage for finding such representations with help of numerical training methods. Tests using prototypical problems with a known mean square minimum did not confirm this hypothesis. Minima found with the help of deep networks have always been worse than those found using shallow networks. This does not directly contradict the theoretical findings---it is possible that the superior representational capacity of deep networks is genuine while finding the mean square minimum of such deep networks is a substantially harder problem than with shallow ones.

Artificial Intelligence models are becoming increasingly more powerful and accurate, supporting or even replacing humans' decision making. But with increased power and accuracy also comes higher complexity, making it hard for users to understand how the model works and what the reasons behind its predictions are. Humans must explain and justify their decisions, and so do the AI models supporting them in this process, making semantic interpretability an emerging field of study. In this work, we look at interpretability from a broader point of view, going beyond the machine learning scope and covering different AI fields such as distributional semantics and fuzzy logic, among others. We examine and classify the models according to their nature and also based on how they introduce interpretability features, analyzing how each approach affects the final users and pointing to gaps that still need to be addressed to provide more human-centered interpretability solutions., Comment: 17 pages, 4 figures. Submitted to AI Magazine on August, 2018

Singular Value Decomposition (SVD) constitutes a bridge between the linear algebra concepts and multi-layer neural networks---it is their linear analogy. Besides of this insight, it can be used as a good initial guess for the network parameters, leading to substantially better optimization results.

We present an approach for recursively splitting and rephrasing complex English sentences into a novel semantic hierarchy of simplified sentences, with each of them presenting a more regular structure that may facilitate a wide variety of artificial intelligence tasks, such as machine translation (MT) or information extraction (IE). Using a set of hand-crafted transformation rules, input sentences are recursively transformed into a two-layered hierarchical representation in the form of core sentences and accompanying contexts that are linked via rhetorical relations. In this way, the semantic relationship of the decomposed constituents is preserved in the output, maintaining its interpretability for downstream applications. Both a thorough manual analysis and automatic evaluation across three datasets from two different domains demonstrate that the proposed syntactic simplification approach outperforms the state of the art in structural text simplification. Moreover, an extrinsic evaluation shows that when applying our framework as a preprocessing step the performance of state-of-the-art Open IE systems can be improved by up to 346% in precision and 52% in recall. To enable reproducible research, all code is provided online.

We introduce Graphene, an Open IE system whose goal is to generate accurate, meaningful and complete propositions that may facilitate a variety of downstream semantic applications. For this purpose, we transform syntactically complex input sentences into clean, compact structures in the form of core facts and accompanying contexts, while identifying the rhetorical relations that hold between them in order to maintain their semantic relationship. In that way, we preserve the context of the relational tuples extracted from a source sentence, generating a novel lightweight semantic representation for Open IE that enhances the expressiveness of the extracted propositions., Comment: 27th International Conference on Computational Linguistics (COLING 2018)

We present an Open Information Extraction (IE) approach that uses a two-layered transformation stage consisting of a clausal disembedding layer and a phrasal disembedding layer, together with rhetorical relation identification. In that way, we convert sentences that present a complex linguistic structure into simplified, syntactically sound sentences, from which we can extract propositions that are represented in a two-layered hierarchy in the form of core relational tuples and accompanying contextual information which are semantically linked via rhetorical relations. In a comparative evaluation, we demonstrate that our reference implementation Graphene outperforms state-of-the-art Open IE systems in the construction of correct n-ary predicate-argument structures. Moreover, we show that existing Open IE approaches can benefit from the transformation process of our framework., Comment: 27th International Conference on Computational Linguistics (COLING 2018)

Semantic annotation is fundamental to deal with large-scale lexical information, mapping the information to an enumerable set of categories over which rules and algorithms can be applied, and foundational ontology classes can be used as a formal set of categories for such tasks. A previous alignment between WordNet noun synsets and DOLCE provided a starting point for ontology-based annotation, but in NLP tasks verbs are also of substantial importance. This work presents an extension to the WordNet-DOLCE noun mapping, aligning verbs according to their links to nouns denoting perdurants, transferring to the verb the DOLCE class assigned to the noun that best represents that verb's occurrence. To evaluate the usefulness of this resource, we implemented a foundational ontology-based semantic annotation framework, that assigns a high-level foundational category to each word or phrase in a text, and compared it to a similar annotation tool, obtaining an increase of 9.05% in accuracy., Comment: 13 pages, 1 figure, presented at EKAW 2016

Natural language definitions of terms can serve as a rich source of knowledge, but structuring them into a comprehensible semantic model is essential to enable them to be used in semantic interpretation tasks. We propose a method and provide a set of tools for automatically building a graph world knowledge base from natural language definitions. Adopting a conceptual model composed of a set of semantic roles for dictionary definitions, we trained a classifier for automatically labeling definitions, preparing the data to be later converted to a graph representation. WordNetGraph, a knowledge graph built out of noun and verb WordNet definitions according to this methodology, was successfully used in an interpretable text entailment recognition approach which uses paths in this graph to provide clear justifications for entailment decisions., Comment: 5 pages, 5 figures, presented at LREC 2018

The identification of semantic relations between terms within texts is a fundamental task in Natural Language Processing which can support applications requiring a lightweight semantic interpretation model. Currently, semantic relation classification concentrates on relations which are evaluated over open-domain data. This work provides a critique on the set of abstract relations used for semantic relation classification with regard to their ability to express relationships between terms which are found in a domain-specific corpora. Based on this analysis, this work proposes an alternative semantic relation model based on reusing and extending the set of abstract relations present in the DOLCE ontology. The resulting set of relations is well grounded, allows to capture a wide range of relations and could thus be used as a foundation for automatic classification of semantic relations., Comment: 10 pages, presented at CogALex-V 2016

Understanding the semantic relationships between terms is a fundamental task in natural language processing applications. While structured resources that can express those relationships in a formal way, such as ontologies, are still scarce, a large number of linguistic resources gathering dictionary definitions is becoming available, but understanding the semantic structure of natural language definitions is fundamental to make them useful in semantic interpretation tasks. Based on an analysis of a subset of WordNet's glosses, we propose a set of semantic roles that compose the semantic structure of a dictionary definition, and show how they are related to the definition's syntactic configuration, identifying patterns that can be used in the development of information extraction frameworks and semantic models., Comment: 9 pages, 2 figures, presented at CogALex-V 2016

We provide a detailed overview of the various approaches that were proposed to date to solve the task of Open Information Extraction. We present the major challenges that such systems face, show the evolution of the suggested approaches over time and depict the specific issues they address. In addition, we provide a critique of the commonly applied evaluation procedures for assessing the performance of Open IE systems and highlight some directions for future work., Comment: 27th International Conference on Computational Linguistics (COLING 2018)

This demonstration presents an infrastructure for computing multilingual semantic relatedness and correlation for twelve natural languages by using three distributional semantic models (DSMs). Our demonsrator - DInfra (Distributional Infrastructure) provides researchers and developers with a highly useful platform for processing large-scale corpora and conducting experiments with distributional semantics. We integrate several multilingual DSMs in our webservice so the end user can obtain a result without worrying about the complexities involved in building DSMs. Our webservice allows the users to have easy access to a wide range of comparisons of DSMs with different parameters. In addition, users can configure and access DSM parameters using an easy to use API., Comment: 2 pages, 2 figures, SIGIR Conference

This paper provides a comparative analysis of the performance of four state-of-the-art distributional semantic models (DSMs) over 11 languages, contrasting the native language-specific models with the use of machine translation over English-based DSMs. The experimental results show that there is a significant improvement (average of 16.7% for the Spearman correlation) by using state-of-the-art machine translation approaches. The results also show that the benefit of using the most informative corpus outweighs the possible errors introduced by the machine translation. For all languages, the combination of machine translation over the Word2Vec English distributional model provided the best results consistently (average Spearman correlation of 0.68)., Comment: 10 pages, 1 figure, conference

Different semantic interpretation tasks such as text entailment and question answering require the classification of semantic relations between terms or entities within text. However, in most cases it is not possible to assign a direct semantic relation between entities/terms. This paper proposes an approach for composite semantic relation classification, extending the traditional semantic relation classification task. Different from existing approaches, which use machine learning models built over lexical and distributional word vector features, the proposed model uses the combination of a large commonsense knowledge base of binary relations, a distributional navigational algorithm and sequence classification to provide a solution for the composite semantic relation classification problem., Comment: 12 pages, 3 figures, conference

In this paper, we report on our efforts for using Deep Learning for classifying artifacts and their features in digital visuals as a part of the Neoclassica framework. It was conceived to provide scholars with new methods for analyzing and classifying artifacts and aesthetic forms from the era of Classicism. The framework accommodates both traditional knowledge representation as a formal ontology and data-driven knowledge discovery, where cultural patterns will be identified by means of algorithms in statistical analysis and machine learning. We created a Deep Learning approach trained on photographs to classify the objects inside these photographs. In a next step, we will apply a different Deep Learning approach. It is capable of locating multiple objects inside an image and classifying them with a high accuracy., Comment: Published in Digital Humanities 2017, Montreal, Canada

In this demo paper, we present a text simplification approach that is directed at improving the performance of state-of-the-art Open Relation Extraction (RE) systems. As syntactically complex sentences often pose a challenge for current Open RE approaches, we have developed a simplification framework that performs a pre-processing step by taking a single sentence as input and using a set of syntactic-based transformation rules to create a textual input that is easier to process for subsequently applied Open RE systems., Comment: 26th International Conference on Computational Linguistics (COLING 2016)

This short paper outlines research results on object classification in images of Neoclassical furniture. The motivation was to provide an object recognition framework which is able to support the alignment of furniture images with a symbolic level model. A data-driven bottom-up research routine in the Neoclassica research framework is the main use-case. It strives to deliver tools for analyzing the spread of aesthetic forms which are considered as a cultural transfer process.