# Exploring the Impact of Corpus Diversity on Financial Pretrained Language Models

arXiv: https://arxiv.org/abs/2310.13312 · HTML: https://mlsanity.com/paper/2310.13312/

## Key facts

- Cited by 3 papers in the map (data through 14 Oct 2026).
- Builds on 22 of its 25 references that are in the map.
- First posted on arXiv 20 Oct 2023.

## Builds on (most cited first, 22 of 22)

- [BERT: Pre-training of Deep Bidirectional Transformers for Language Understanding](https://mlsanity.com/paper/1810.04805/) (2018)
- [LLaMA: Open and Efficient Foundation Language Models](https://mlsanity.com/paper/2302.13971/) (2023)
- [RoBERTa: A Robustly Optimized BERT Pretraining Approach](https://mlsanity.com/paper/1907.11692/) (2019)
- [Sentence-BERT: Sentence Embeddings using Siamese BERT-Networks](https://mlsanity.com/paper/1908.10084/) (2019)
- [UMAP: Uniform Manifold Approximation and Projection for Dimension Reduction](https://mlsanity.com/paper/1802.03426/) (2018)
- [BLOOM: A 176B-Parameter Open-Access Multilingual Language Model](https://mlsanity.com/paper/2211.05100/) (2022)
- [BioBERT: a pre-trained biomedical language representation model for biomedical text mining](https://mlsanity.com/paper/1901.08746/) (2019)
- [SciBERT: A Pretrained Language Model for Scientific Text](https://mlsanity.com/paper/1903.10676/) (2019)
- [Energy and Policy Considerations for Deep Learning in NLP](https://mlsanity.com/paper/1906.02243/) (2019)
- [Publicly Available Clinical BERT Embeddings](https://mlsanity.com/paper/1904.03323/) (2019)
- [BloombergGPT: A Large Language Model for Finance](https://mlsanity.com/paper/2303.17564/) (2023)
- [GLM-130B: An Open Bilingual Pre-trained Model](https://mlsanity.com/paper/2210.02414/) (2022)
- [Deduplicating Training Data Makes Language Models Better](https://mlsanity.com/paper/2107.06499/) (2021)
- [FinQA: A Dataset of Numerical Reasoning over Financial Data](https://mlsanity.com/paper/2109.00122/) (2021)
- [FinBERT: Financial Sentiment Analysis with Pre-trained Language Models](https://mlsanity.com/paper/1908.10063/) (2019)
- [Good Debt or Bad Debt: Detecting Semantic Orientations in Economic Texts](https://mlsanity.com/paper/1307.5336/) (2013)
- [FinBERT: A Pretrained Language Model for Financial Communications](https://mlsanity.com/paper/2006.08097/) (2020)
- [WHEN FLUE MEETS FLANG: Benchmarks and Large Pre-trained Language Model for Financial Domain](https://mlsanity.com/paper/2211.00083/) (2022)
- [Impact of News on the Commodity Market: Dataset and Results](https://mlsanity.com/paper/2009.04202/) (2020)
- [Trillion Dollar Words: A New Financial Dataset, Task & Market Analysis](https://mlsanity.com/paper/2305.07972/) (2023)
- [FiNER: Financial Numeric Entity Recognition for XBRL Tagging](https://mlsanity.com/paper/2203.06482/) (2022)
- [EDGAR-CORPUS: Billions of Tokens Make The World Go Round](https://mlsanity.com/paper/2109.14394/) (2021)

## Built on by (most cited first, 3 of 3)

- [Language Modeling for the Future of Finance: A Survey into Metrics, Tasks, and Data Opportunities](https://mlsanity.com/paper/2504.07274/) (2025)
- [FinNLI: Novel Dataset for Multi-Genre Financial Natural Language Inference Benchmarking](https://mlsanity.com/paper/2504.16188/) (2025)
- [A Citation-Grounded Benchmark for Trustworthy Earnings Call Transcript Analysis with Large Language Models](https://mlsanity.com/paper/2610.00969/) (2026)

## Abstract (arXiv)

Over the past few years, various domain-specific pretrained language models (PLMs) have been proposed and have outperformed general-domain PLMs in specialized areas such as biomedical, scientific, and clinical domains. In addition, financial PLMs have been studied because of the high economic impact of financial data analysis. However, we found that financial PLMs were not pretrained on sufficiently diverse financial data. This lack of diverse training data leads to a subpar generalization performance, resulting in general-purpose PLMs, including BERT, often outperforming financial PLMs on many downstream tasks. To address this issue, we collected a broad range of financial corpus and trained the Financial Language Model (FiLM) on these diverse datasets. Our experimental results confirm that FiLM outperforms not only existing financial PLMs but also general domain PLMs. Furthermore, we provide empirical evidence that this improvement can be achieved even for unseen corpus groups.