| Information Extraction (IE) is the process of finding useful information in unstructured text, extracting specific data, and presenting the data in a summarized, structured format. One potential use of IE is extracting information about stock options that is embedded in the disclosure notes of financial statements. The Securities and Exchange Commission's Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) database is the richest source of financial statement information on the Web. However, the information is stored in text or HTML files making it difficult to search and extract data. This paper examines the development and use of the EDGAR Extraction System (EES), a customized automated system that extracts relevant information about the fair value of employee stock options from financial statement disclosure notes on the EDGAR database. |
