18 Financial applications of Artificial Neural Networks

摘要: Publisher Summary Data-driven modeling approaches, such as Artificial Neural Networks (ANN), are becoming more and popular in financial applications. ANNs nonlinear nonparametric models. allow one to fully utilize the data let determine structure parameters of a model without any restrictive parametric assumptions. They appealing area because abundance high quality paucity testable As speed computers increases cost computing declines exponentially, this computer intensive method becomes attractive. This chapter introduces ANN point out its relation some familiar statistical Some practical methods reviewed. The also reviews empirical studies several major fields applications, including option pricing, forecasting o f foreign exchange rates, bankruptcy prediction, stock market prediction.