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arxiv: 2507.08339 · v4 · submitted 2025-07-11 · 💻 cs.CL

What Factors Affect LLMs and RLLMs in Financial Question Answering?

Pith reviewed 2026-05-19 05:03 UTC · model grok-4.3

classification 💻 cs.CL
keywords large language modelsreasoning large language modelsfinancial question answeringchain of thought reasoningprompting methodsagent frameworksmultilingual alignment
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The pith

Prompting methods and agent frameworks boost LLMs on financial questions by simulating long reasoning, while RLLMs show little additional benefit.

A machine-rendered reading of the paper's core claim, the machinery that carries it, and where it could break.

The paper tests how prompting, agent frameworks, and multilingual alignment affect LLMs and RLLMs on financial question answering. It establishes that these techniques mainly help regular LLMs by creating extended reasoning processes akin to Long CoT. RLLMs already include these inherent capabilities, reducing the gains from standard enhancements. Multilingual methods work by lengthening reasoning chains primarily in LLMs. Readers interested in deploying language models for finance would find this useful for selecting appropriate techniques based on model type.

Core claim

Current prompting methods and agent frameworks enhance the performance of LLMs in financial question answering by simulating Long CoT. RLLMs possess inherent Long CoT capabilities, which limits the effectiveness of conventional methods in further enhancing their performance. Current advanced multilingual alignment methods primarily improve the multilingual performance of LLMs by extending the reasoning length, which yields minimal benefits for RLLMs. The authors discuss strategies for enhancing the performance of LLMs and RLLMs in financial question answering.

What carries the argument

Long Chain-of-Thought (Long CoT), the extended step-by-step reasoning process that RLLMs have built-in and that other methods try to simulate or lengthen in LLMs for better financial query handling.

If this is right

  • Prompting and agent methods improve accuracy for standard LLMs on financial tasks.
  • RLLMs require different enhancement strategies since added prompting yields limited returns.
  • Multilingual alignment extends reasoning to help LLMs with non-English financial questions but not RLLMs.
  • Future work can build on the discussed strategies to tailor improvements to each model category.

Where Pith is reading between the lines

These are editorial extensions of the paper, not claims the author makes directly.

  • Developers might prioritize creating domain-specific long-reasoning datasets for RLLMs instead of general prompting.
  • The findings point to a need for new evaluation metrics that account for inherent reasoning length in model comparisons.
  • Similar experiments in other high-stakes domains like law or medicine could reveal if the LLM-RLLM difference is domain-specific.

Load-bearing premise

That the particular models, methods, and financial tasks tested are representative of the wider financial question answering landscape.

What would settle it

Conducting equivalent tests using additional financial QA datasets or a wider variety of LLMs and RLLMs to determine if the performance patterns for prompting, agents, and multilingual methods remain consistent.

Figures

Figures reproduced from arXiv: 2507.08339 by Dagang Li, Jiageng Wu, Peng Wang, Qiancheng Zhang, Xuesi Hu, Yuntao Zou.

Figure 1
Figure 1. Figure 1: The performance of Qwen-2.5-32B and DeepSeek-R1-Distill-Qwen-32B. Extending the reasoning length significantly en￾hances the performance of LLMs. For most LLMs, employing the CLP method yields better per￾formance than the Translate-en approach. Addi￾tionally, the agentic framework (Self-Refine and S3 Agent) enhances the performance of LLMs to some degree. This indicates that CLP not only aligns mul￾tiple l… view at source ↗
Figure 2
Figure 2. Figure 2: Statistics of average output token consumption for questions of different difficulty in [PITH_FULL_IMAGE:figures/full_fig_p007_2.png] view at source ↗
Figure 3
Figure 3. Figure 3: Performance of different scale and thinking mode in Qwen-3. The line chart in (a) shows Direct performance of Qwen-3, while the histogram in (a) shows average out￾put tokens across scales. The histogram in (b) shows performance in different methods. In contrast, for RLLMs, the output of Long CoT indicates that the length of the CoT is not the primary determinant of performance. For in￾stance, DeepSeek-R1-D… view at source ↗
Figure 4
Figure 4. Figure 4: Error statistics for Qwen￾3-14B under different thinking modes, considering cases where thinking mode is correct but non-thinking mode fails. To elucidate the advantages conferred by Long CoT, we utilize GPT-4o-mini to systematically analyze the error types observed in Qwen-3-14B under both thinking and non-thinking modes, as illustrated in [PITH_FULL_IMAGE:figures/full_fig_p008_4.png] view at source ↗
read the original abstract

Recently, large language models (LLMs) and reasoning large language models (RLLMs) have gained considerable attention from many researchers. RLLMs enhance the reasoning capabilities of LLMs through Long Chain-of-Thought (Long CoT) processes, significantly improving the performance of LLMs in addressing complex problems. However, there are few works that systematically explore what methods can fully unlock the performance of LLMs and RLLMs within the financial domain. To investigate the impact of various methods on LLMs and RLLMs, we utilize five LLMs and four RLLMs to assess the effects of prompting methods, agentic frameworks, and multilingual alignment methods on financial question-answering tasks. Our research findings indicate: (1) Current prompting methods and agent frameworks enhance the performance of LLMs in financial question answering by simulating Long CoT; (2) RLLMs possess inherent Long CoT capabilities, which limits the effectiveness of conventional methods in further enhancing their performance; (3) Current advanced multilingual alignment methods primarily improve the multilingual performance of LLMs by extending the reasoning length, which yields minimal benefits for RLLMs. Additionally, we discuss strategies for enhancing the performance of LLMs and RLLMs in financial question answering, which may serve as a inspiration for future improvements. We hope that this study can serve as an important reference for LLMs and RLLMs in the field of financial question answering.

Editorial analysis

A structured set of objections, weighed in public.

Desk editor's note, referee report, simulated authors' rebuttal, and a circularity audit. Tearing a paper down is the easy half of reading it; the pith above is the substance, this is the friction.

Referee Report

2 major / 1 minor

Summary. The manuscript empirically evaluates the effects of prompting methods, agentic frameworks, and multilingual alignment techniques on financial question-answering performance using five LLMs and four RLLMs. It reports that these interventions improve LLMs by simulating or extending Long CoT reasoning while RLLMs already possess inherent Long CoT capabilities that limit further gains from conventional methods.

Significance. If the reported accuracy improvements are shown to be robust and the mechanistic attributions to Long CoT simulation are backed by direct measurements, the work could offer practical guidance for deploying LLMs and RLLMs in finance. The study is timely given growing interest in domain-specific reasoning, but its current form provides limited new insight beyond standard prompting benchmarks.

major comments (2)
  1. [Abstract] Abstract and Results: The central claims that prompting/agent methods improve LLMs 'by simulating Long CoT' and that multilingual alignment improves performance 'by extending the reasoning length' rest solely on accuracy/F1 deltas. No tables or sections report output token counts, reasoning-step statistics, trace lengths, or complexity metrics comparing baseline vs. enhanced conditions, leaving alternative explanations (e.g., better terminology retrieval or reduced hallucination) unaddressed.
  2. [Experimental Setup] Experimental Setup: The manuscript provides no information on financial QA dataset sizes, sources, train/test splits, statistical significance tests (e.g., paired t-tests or bootstrap), baseline selection criteria, or controls for confounders such as prompt length, model scale, or data contamination. These omissions make it impossible to verify the general conclusions about factors affecting performance.
minor comments (1)
  1. [Abstract] Abstract: 'serve as a inspiration' should read 'serve as an inspiration'.

Simulated Author's Rebuttal

2 responses · 0 unresolved

Thank you for the constructive feedback on our manuscript. We address each major comment below and have made revisions to improve the rigor of our claims and experimental reporting.

read point-by-point responses
  1. Referee: [Abstract] Abstract and Results: The central claims that prompting/agent methods improve LLMs 'by simulating Long CoT' and that multilingual alignment improves performance 'by extending the reasoning length' rest solely on accuracy/F1 deltas. No tables or sections report output token counts, reasoning-step statistics, trace lengths, or complexity metrics comparing baseline vs. enhanced conditions, leaving alternative explanations (e.g., better terminology retrieval or reduced hallucination) unaddressed.

    Authors: We agree that direct measurements of reasoning length would provide stronger support for attributing gains to Long CoT simulation. In the revised manuscript we have added a new analysis subsection with output token counts and estimated reasoning-step statistics across conditions. These show consistent increases in reasoning length for LLMs under prompting and agent methods, and for multilingual alignment, which helps differentiate our interpretation from alternatives such as terminology retrieval. revision: yes

  2. Referee: [Experimental Setup] Experimental Setup: The manuscript provides no information on financial QA dataset sizes, sources, train/test splits, statistical significance tests (e.g., paired t-tests or bootstrap), baseline selection criteria, or controls for confounders such as prompt length, model scale, or data contamination. These omissions make it impossible to verify the general conclusions about factors affecting performance.

    Authors: We acknowledge these omissions limit verifiability. The revised Experimental Setup section now includes dataset sources and sizes, explicit train/test splits, results of paired t-tests for significance, baseline selection rationale, and discussion of controls for prompt length, model scale, and potential data contamination. revision: yes

Circularity Check

0 steps flagged

Empirical benchmarking study with no derivations, fitted predictions, or self-referential reductions

full rationale

The paper reports performance differences across LLMs and RLLMs on financial QA tasks under prompting, agent frameworks, and multilingual alignment. All central claims are framed as direct observations from accuracy/F1 metrics rather than quantities derived from equations or parameters that reduce to the inputs by construction. No mathematical derivations, self-definitional loops, fitted-input predictions, or load-bearing self-citation chains appear in the reported results. The study is self-contained as an observational comparison and does not exhibit any of the enumerated circularity patterns.

Axiom & Free-Parameter Ledger

0 free parameters · 0 axioms · 0 invented entities

The study relies on standard assumptions from LLM evaluation literature such as the validity of benchmark tasks and the comparability of model outputs, with no new free parameters, axioms beyond domain standards, or invented entities introduced.

pith-pipeline@v0.9.0 · 5801 in / 1238 out tokens · 39124 ms · 2026-05-19T05:03:11.377777+00:00 · methodology

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Reference graph

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