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Professor Steven Young

Professor

Steven Young

Lancaster University

The Management School

LA1 4YX

Lancaster

Tel: +44 1524 594242

Career Details

Research Interests

My primary research interests involve the following three themes:

A.  Financial text processing

  • My objective in this stream of research is to use natural language processing (NLP) and corpus linguistics methods to extract information from firms’ qualitative disclosures on a large-sample basis. My work involves harvesting financial text, building financial corpora, and generating new quantitative measures and resources from unstructured data.
  • The research method involves applying methods from NLP (e.g., simple word frequency counts, machine learning classifiers, topic models, etc.) and corpus linguistics (e.g., concordance, collocation, keyness, etc.).

B.  Annual report narrative disclosures

  • My objective in this strand of research is to explore the properties, determinants and economic consequences of annual report narrative disclosures including performance commentary, governance statements, remuneration reports, and social responsibility disclosures. My primary focus is UK annual reports from 2003 to the present published by London Stock Exchange firms.
  • The research method involves large sample statistical analysis of the properties of annual report narratives and their association with firm characteristics and economic outcomes. I use NLP and corpus linguistic tools to translate qualitative disclosures into quantitative inputs to economic models.

C.  Performance reporting

  • My objective in this stream of research is to explore empirically how alternative approaches to measuring and presenting periodic performance information (broadly defined) are associated with corporate strategy and firm value.
  • The research method relies on large sample statistical analysis linking performance-related disclosures in firms’ annual reports and earnings announcements with firm characteristics and economic outcomes.

Web Links

Texual analysis website: http://ucrel.lancs.ac.uk/cfie/

Qualifications

BA University of Wales, PhD Lancaster

Professional Role

School

Associate Dean (Resources)

Departmental

Deputy-Head of Department

Programme Director, MSc Advanced Financial Analysis

Research Grants

"Modelling financial discourse" RPMI Railpen, ongoing (start date November 2020)

“Detecting & disrupting misleading statements: Phase 2 project on using machine learning to assist Primary Oversight Department” (PI): Financial Conduct Authority, ongoing (start date 1 May 2019)

"Analysing Narrative Aspects of UK Preliminary Earnings Announcements and Annual Reports: Tools and Insights for Researchers and Regulators",  £419,282.90: ESRC (ES/R003904/1) and £63k Financial Reporting Council, projected start date 01/01/2018

“Detecting & disrupting misleading statements: Phase 1 project on using machine learning to assist Primary Oversight Department” (PI): Financial Conduct Authority, January 2018 to December 2018) 

"PLSA Workforce Reporting Toolkit: Impact Assessment", £4k Pensions and Lifetime Savings Association (PLSA) 2017, completed (with Paul Rayson)

"Understanding the Influences of Financial Reporting, Corporate Disclosures and Financial Media on the Corporate Financial Information Environment" (ES/J012394/1), £382K Economic and Social Research Council and Institute of Chartered Accountants in England and Wales 2012, ongoing, Co-I (M. Walker and P. Rayson)

“Cross-Border Information Transfers and Accounting Quality”, £42,948 Centre for Business Performance at the Institute of Chartered Accountants in England and Wales 2007, completed (with P. Pope)

“Reporting Financial Performance under Financial Reporting Standard No.3: Understanding the Earnings Reporting Practices of UK Firms and their interactions with Analysts’ Earnings Forecasts”, £107,699 Centre for Business Performance at the Institute of Chartered Accountants in England and Wales 2001, completed (with M. Walker & S. Lin)

“Understanding Share Buybacks: Payout flexibility, Executive Pay and Taxes”, £50,661 Leverhulme Trust 2004 (Ref. F/00 185/I), completed

"More Repurchases in the UK: Motives and Shareholder Wealth Effects", £17.693 Economic and Social Research Council (Ref R000223516), completed (with D. Oswald)

"European Union Research Network Project", Total value of award: 1.3 million Euro's: Lancaster University’s share of the award £95,000, The European Commission 1999, completed (project co-ordinator S. J. McLeay)

"The Composition, Structure, and Role of the Board of Directors: A Comparison of UK and US Firms", £3,000 Lancaster University Small Grant Scheme 2000, completed

"Board Effectiveness and Accounting Quality: Evidence from the Financial Reporting Review Panel" £5,000 The Nuffield Foundation 1998, completed (with K.V. Peasnell & P.F. Pope)
Economic and Social Research Council Management Research Fellowship (Ref. H53627500497). £77,891 ESRC 1997, completed

"The Composition and Structure of Corporate Boards: Implications for Firm Performance", £30,245 The Leverhulme Trust 1997, completed (with K.V. Peasnell & P.F. Pope)

Current Teaching

Postgraduate: AcF 861 PhD Accounting Seminar: Advanced Accounting Theory

External Roles

Associate Editor: Journal of Business Finance & Accounting

Editorial Board Member: Accounting, Organisations & Society; European Accounting Review; Accounting & Business Research; Journal of International Accounting

Chair, EAA Publications Committe 

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