Evaluation of Annual Reports by Text Analysis: An Applicaiton in BIST100 Index

Year 2024, Issue: 121, 175 - 188, 16.04.2024

Sedat Çerez , Abdullah Kürşat Merter , Yavuz Selim Balcıoğlu , Gökhan Özer

https://doi.org/10.33203/mfy.1338486

Abstract

In this study, the annual reports of 60 non-financial firms in the Borsa İstanbul (BIST) 100 index are examined, and the topics and sentiment tone of the reports are analyzed. Using the Latent Dirichlet Allocation method, it is found that four main topics are differentiated in the annual reports, and approximately 87% of the disclosures in the reports exhibit a positive sentiment and 13% of the disclosures exhibit a negative sentiment, indicating that there is a generally optimistic tone in the reports. This research highlights the potential of text analysis as a tool for extracting meaningful insights from corporate reports and offers a new approach to understanding corporate performance and strategy.

Keywords

Annual Reports, Text Analysis, Sentiment Analysis, BIST100

Yıllık Raporların Metin Analizi İle Değerlendirilmesi: BİST100 Endeksinde Bir Uygulama

Abstract

Bu çalışmada, Borsa İstanbul (BIST) 100 endeksindeki 60 finansal olmayan işletmenin faaliyet raporları incelenerek, raporların içeriğindeki konuların ve duygu tonunun analizi gerçekleştirilmiştir. Gizli Dirichlet Ayırımı yöntemiyle faaliyet raporları içerisinde dört temel konu üzerinde ayrışma sağlandığı ve raporların içerisinde yer alan açıklamaların yaklaşık %87'sinin olumlu, %13'ünün ise olumsuz bir duygu sergilediği tespit edilmekte ve bu da raporlarda genel olarak iyimser bir görünüm içerisinde olduğunu göstermektedir. Bu araştırma, kurumsal raporlardan anlamlı iç görüler elde etmek için bir araç olarak metin analizinin potansiyelinin altını çizmekte ve kurumsal performans ve stratejiyi anlamak için yeni bir yaklaşım sunmaktadır.

Keywords

Faaliyet Raporları, Metin Analizi, Duygu Analizi, BIST100

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