Dear All,

You are cordially invited to an onsite academic seminar to be delivered by Dr. Pengkai Lin on May 31 (Friday). Details could be found below.

Seminar Information

Time and Date: 10:30 am - 12:00 pm, May 31, 2024 (Friday)

Venue: Room 619, Teaching A Building
Speaker: Dr. Pengkai Lin (Singapore Management University)

Topic: Algorithm Access for All: Information Processing Democratization via GitHub

Zoom Access

Link: https://cuhk-edu-cn.zoom.us/j/3668418894?pwd=RDlPN0E5OGlEK0xUOW1sQ2d3MVlSZz09&omn=97404895674

Meeting ID: 366 841 8894

Passcode: 706841

About the Speaker

Dr. Pengkai Lin joined Singapore Management University in 2021. He obtained his PhD degree from Tulane University and his bachelor’s degree from Xiamen University. Pengkai’s research interests include financial disclosures, the relation between accounting information and asset prices, and auditing. He has published in Management Science. His teaching interests include accounting analytics, financial accounting, and financial statement analysis.

Abstract

We study democratization of information processing technology in financial markets, using the proliferation of open-source algorithms on GitHub. We analyze nearly 900 public projects on GitHub aimed at data retrieval, manipulation, analysis, and visualization of SEC filings. We document a strong link between these projects and increased machine downloads of SEC filings via EDGAR, with a 6% rise in downloads associated with each new project. These opensource algorithms expedite information acquisition and broaden user reach to smaller investors, ultimately improving market liquidity and reducing information asymmetry among investors. Our findings highlight the role of open-source algorithms in enhancing market participation, especially from those with limited resources.

Keywords: Information Technology Democratization; Information Processing; Algorithm; GitHub; SEC EDGAR

JEL Codes: D83; G10; M41