Professor Steven Young
ProfessorCareer 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
FRC2023-0131 Analyzing trends in annual report language and content
20/09/2023 → 31/03/2024
Consultancy
CASS ESRC Transition Funding
01/04/2018 → 31/01/2024
Research
Analysing Narrative Aspects of UK Preliminary Earnings Announcements and Annual Reports: Tools and Insights for Researchers and Regulators
01/12/2017 → 31/07/2020
Research
Understanding Corporate Communications
01/12/2014 → 01/10/2016
Other
ESRC centre for Corpus Approaches to Social Science - CASS
31/03/2013 → 30/03/2018
Research
Understanding the Influences of Financial Reporting, Corporate Disclosure and financial media on the Corporate Financial Information Environment
01/12/2012 → 30/11/2014
Research
Invited Presentation
Participation in conference - Business/Professional
Tackling Modern Slavery: The Role of Regulation, Data, and AI
Participation in conference -Mixed Audience
Knowledge Transfer Event #1 on Text Processing for Annual Reports
Business Course/Training
Knowledge Transfer Event #2 on Text Processing for Annual Reports
Business Course/Training
Language Data Analysis for Business and Professional Communication
Participation in conference - Academic
Financial Reporting Council Lab roundtable on business model-focused reporting
Participation in conference - Business/Professional
Keynote presentation at 2023 Financial Reporting and Business Communication Conference
Participation in conference -Mixed Audience
ICAEW Roundtable on corporate governance and corporate failure
Participation in conference - Business/Professional
Meeting with Department Culture, Media & Sport (DCMS) to discuss cyber security reporting
Expert Opinion
CCLA Roundtable on the use of machine learning to identify and analyse business modern slavery data for investors
Participation in conference - Business/Professional
Presentation to Financial Reporting Council Lab
Business Course/Training
ICAEW Regional Executive (Lancashire & South Lakeland) session on modern slavery reporting
Participation in conference - Business/Professional
Data science professional development session for IFRS Foundation
Participation in conference - Business/Professional
IASB Panel discussion— The effect of technology on the investment process and how investors consume financial and ESG related data
Participation in conference - Business/Professional
IASB Panel discussion— The effect of technology on the investment process and how investors consume financial and ESG related data
Participation in conference - Business/Professional
Insight Series seminar on Environmental, Social & Governance (ESG) issues in financial markets delivered by Barclays and hosted by Lancaster University Management School
Public Lecture/ Debate/Seminar
Never the Twain Shall Meet? The Ballard of Accounting and Natural Language Processing
Invited talk
Predicting Accounting Violations Using Quantitative & Qualitative Data
Invited talk
RPMI Railpen workshop on NLP
Participation in workshop, seminar, course
1st Accounting Workshop
Participation in workshop, seminar, course
The 2nd Financial Narrative Processing Workshop
Participation in workshop, seminar, course
Research presentation
Invited talk
British Accounting and Finance Association Northern Area Group Annual Meeting
Participation in conference -Mixed Audience
8th WHU Summer Programme in Accounting Research (SPAR)
Participation in workshop, seminar, course
Wolfe Research 2nd Annual European Quantitative and Macro Investment Conference
Participation in conference -Mixed Audience
Research presentation
Invited talk
35th European Accounting Association Doctoral Colloquium
Participation in workshop, seminar, course
Research presentation
Invited talk
Research presentation
Invited talk
Research presentation
Invited talk
Research presentation
Invited talk
Workshop on Natural Language Processing in Financial Markets
Participation in conference -Mixed Audience
Research presentation
Invited talk
Research presentation
Invited talk
2018 JBFA Capital Markets Conference
Participation in conference -Mixed Audience
The 1st Financial Narrative Processing Workshop in LREC 2018
Participation in workshop, seminar, course
Research presentation
Invited talk
Research presentation
Invited talk
Research presentation
Invited talk
Research presentation
Invited talk
Breakfast meeting to launch research report for Pensions and Lifetime Savings Association (PLSA)
Participation in workshop, seminar, course
Research presentation
Invited talk
CFA Society UK research report launch
Participation in workshop, seminar, course
Research presentation
Invited talk
Research presentation
Invited talk
Research presentation
Invited talk
6th WHU Summer Programme in Accounting Research (SPAR)
Participation in workshop, seminar, course
Research presentation
Invited talk
Research presentation
Invited talk
British Accounting and Finance Association South West Accounting Group Annual Meeting 2015
Participation in conference -Mixed Audience
Research presentation
Invited talk
CFA Society UK Annual Conference
Participation in conference -Mixed Audience
Research presentation
Invited talk
European Accounting Association Doctoral Forum
Participation in conference -Mixed Audience
British Accounting and Finance Association Doctoral Symposium
Participation in conference -Mixed Audience
Research presentation
Invited talk
Research presentation
Invited talk
Presentation to Academic Panel
Invited talk
Research presentation
Invited talk
Research presentation
Invited talk
Research seminar
Invited talk
Research seminar
Invited talk
Research seminar
Invited talk
Plenary speaker, Centre for Impression Management in Accounting Communication
Invited talk
Research seminar
Invited talk
Business Ethics: A European Review (Journal)
Publication peer-review
Research seminar
Invited talk
Research seminar
Invited talk
Plenary speaker, VII International Accounting Research Symposium
Invited talk
Accounting, Organizations and Society (Journal)
Editorial activity
Research presentation
Invited talk
Abacus (Journal)
Publication peer-review
Review of Accounting Studies (Journal)
Publication peer-review
Research seminar
Invited talk
Research seminar
Invited talk
Research seminar
Invited talk
Accounting and Business Research (Journal)
Editorial activity
Plenary speaker, VI International Accounting Research Symposium
Invited talk
The Accounting Review (Journal)
Publication peer-review
Journal of Accounting, Auditing and Finance (Journal)
Publication peer-review
Research seminar
Invited talk
Research seminar
Invited talk
Research seminar
Invited talk
Research seminar
Invited talk
Research seminar
Invited talk
Journal of Business Finance and Accounting (Journal)
Editorial activity
Journal of Banking and Finance (Journal)
Publication peer-review
Journal of Management and Governance (Journal)
Publication peer-review
European Accounting Review (Journal)
Editorial activity
British Accounting Review (Journal)
Editorial activity
Accounting, Organizations and Society (Journal)
Publication peer-review
Contemporary Accounting Research (Journal)
Publication peer-review
Accounting and Business Research (Journal)
Publication peer-review
British Accounting Review (Journal)
Publication peer-review
- Accounting, Finance, Governance and Banking
- Financial Reporting
- Pentland Centre
- UCREL - University Centre for Computer Corpus Research on Language