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Research on Knowledge Discovery and Stock Forecasting of Financial News Based on Domain Ontology

Author

Listed:
  • Lingling Zhang

    (School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, P. R. China2Research Center on Fictitious Economy & Data Science, Chinese Academy of Sciences, Beijing 100190, P. R. China)

  • Minghui Zhao

    (School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, P. R. China)

  • Zili Feng

    (Sino-Danish College, University of Chinese Academy of Sciences, Beijing 100190, P. R. China)

Abstract

In the era of big data, how to obtain useful knowledge from online news and utilize it as an important basis to make investment decision has become the hotspot of industrial and academic research. At present, there have been research and practice on explicit knowledge acquisition from news, but tacit knowledge acquisition is still under exploration. Based on the general mechanism of domain knowledge, knowledge reasoning, and knowledge discovery, this paper constructs a framework for discovering tacit knowledge from news and applying the knowledge to stock forecasting. The concrete work is as follows: First, according to the characteristics of financial field and the conceptual cube, the conceptual structure of industry–company–product is constructed, and the framework of domain ontology is put forward. Second, with the construction of financial field ontology, the financial news knowledge management framework is proposed. Besides, with the application of attributes in ontology and domain rules extracted from news text, the knowledge reasoning mechanism of financial news is constructed to achieve financial news knowledge discovery. Finally, news knowledge that reflects important information about stock changes is integrated into the traditional stock price forecasting model and the newly proposed model performs well in the empirical analysis of polyester industry.

Suggested Citation

  • Lingling Zhang & Minghui Zhao & Zili Feng, 2019. "Research on Knowledge Discovery and Stock Forecasting of Financial News Based on Domain Ontology," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 18(03), pages 953-979, May.
    • Handle: RePEc:wsi:ijitdm:v:18:y:2019:i:03:n:s0219622019500160
    DOI: 10.1142/S0219622019500160
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    References listed on IDEAS

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    1. Grigoris Antoniou & Frank van Harmelen, 2009. "Web Ontology Language: OWL," International Handbooks on Information Systems, in: Steffen Staab & Rudi Studer (ed.), Handbook on Ontologies, pages 91-110, Springer.
    2. Wenshuai Wu & Gang Kou, 2016. "A group consensus model for evaluating real estate investment alternatives," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-10, December.
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