Sentiment Analysis of 10-K Reports: Full Text vs. Risk Factors, Which Is Worth Paying For?

The most valuable takeaway from this article is: for sentiment analysis of 10-K reports, the granularity of aggregation determines predictive value—sentiment from risk factor sections is more effective than overall document sentiment, but full-document sentiment remains irreplaceable in specific aggregation scenarios. This conclusion directly challenges the prevailing practice in financial NLP of just "running sentiment analysis on the whole text," and provides a more precise direction for applying AI in financial text analysis.