@inproceedings{matlin-etal-2025-finance,
    title = "Finance Language Model Evaluation ({FL}a{ME})",
    author = "Matlin, Glenn  and
      Okamoto, Mika  and
      Pardawala, Huzaifa  and
      Yang, Yang  and
      Chava, Sudheer",
    editor = "Arviv, Ofir  and
      Clinciu, Miruna  and
      Dhole, Kaustubh  and
      Dror, Rotem  and
      Gehrmann, Sebastian  and
      Habba, Eliya  and
      Itzhak, Itay  and
      Mille, Simon  and
      Perlitz, Yotam  and
      Santus, Enrico  and
      Sedoc, Jo{\~a}o  and
      Shmueli Scheuer, Michal  and
      Stanovsky, Gabriel  and
      Tafjord, Oyvind",
    booktitle = "Proceedings of the Fourth Workshop on Generation, Evaluation and Metrics (GEM{\texttwosuperior})",
    month = jul,
    year = "2025",
    address = "Vienna, Austria and virtual meeting",
    publisher = "Association for Computational Linguistics",
    url = "https://preview.aclanthology.org/nschneid-patch-1/2025.gem-1.72/",
    pages = "880--926",
    ISBN = "979-8-89176-261-9",
    abstract = "Language Models (LMs) have demonstrated impressive capabilities with core Natural Language Processing (NLP) tasks. The effectiveness of LMs for highly specialized knowledge-intensive tasks in finance remains difficult to assess due to major gaps in the methodologies of existing evaluation frameworks, which have caused an erroneous belief in a far lower bound of LMs' performance on common Finance NLP (FinNLP) tasks. To demonstrate the potential of LMs for these FinNLP tasks, we present the first holistic benchmarking suite for Financial Language Model Evaluation (FLaME). We are the first research paper to comprehensively study LMs against `reasoning-reinforced' LMs, with an empirical study of 23 foundation LMs over 20 core NLP tasks in finance. We open-source our framework software along with all data and results."
}