Digital transformation Disclosure in Companies Listed on B3
a text mining analysis
DOI:
https://doi.org/10.16930/2237-766220263641Keywords:
digital transformation, disclosure, accountingAbstract
This study aimed to analyze the disclosure of digital transformation terms among publicly traded companies listed on B3 during the period from 2010 to 2023. Grounded in Disclosure Theory, the research examined 3,061 management reports from 281 companies, resulting in a final sample of 914 reports containing the keywords investigated in the study. The data were processed in RStudio using text mining techniques. The results reveal that the disclosure of specific information related to digital transformation remains limited. The most frequently reported terms were broad concepts such as digital, automation, and digitalization. The inverse frequency analysis suggests that blockchain and fintech are indeed representative of technological disruption; however, their low frequency indicates an early stage of disclosure. The co-occurrence analysis demonstrated that the terms digital and digitalization were the most strongly associated, likely because the two concepts are closely interconnected. The terms automation and cloud also showed a strong correlation with digital. Furthermore, the limited presence of more advanced technologies suggests that, although these technologies are considered important, they have not yet been prioritized or widely implemented in publicly disclosed digital transformation strategies. These findings have practical implications for investors by highlighting information gaps that hinder the assessment of companies' technological resilience and long-term strategic viability. This study contributes to the literature by addressing a research gap through the application of natural language processing techniques to accounting narratives in the Brazilian capital market.
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