The Need for Consistency and Reproducibility in Financial Market Research

The basis of scholarly research is to provide a new base for building the body of knowledge. However, in the field of financial modeling, there has been less advancement due to the lack of sufficient modeling details.  These... [ view full abstract ]

The basis of scholarly research is to provide a new base for building the body of knowledge. However, in the field of financial modeling, there has been less advancement due to the lack of sufficient modeling details.  These details would allow advancement of previous work.  There is a technical aspect to the modeling of financial systems.  This includes quantifying and testing various hypotheses.  However, the literature has failed to require that sufficient details be disclosed for the modeling process.  This is necessary for the advancement of the field.  Without both the methodology and details of the models used for testing, reproducing and advancing the field of financial modeling becomes unachievable.  The goal of scholarly research is to provide a base upon which it is to be built.  Without a solid base, the field of scholarly research is unnecessarily held back as reproducing methods (and subsequently adding to or improving the methods in some manner) becomes impossible to achieve.  The objective of this work is to demonstrate the need for more explicit documentation for models in the field of finance.