getBusinessDescr retrieves business description section from annual statements
based on CIK number(s) and filing year(s).
getBusinDescr(cik.no, filing.year, useragent)Function saves scrapped business description section from annual filings in "Business descriptions text" directory created in the current working directory. The output dataframe contains filing information and parsing status. For a successful extraction of this section, 'extract.status' column returns 1, other return 0 for failed extraction.
vector of firm CIK(s) in integer format. Suppress leading zeroes from a CIK number. cik.no = 'ALL' conisders all the CIKs.
vector of four digit numeric year
Should be in the form of "Your Name Contact@domain.com"
getBusinDescr function takes firm CIK(s) and filing year(s) as input parameters from a user and provides "Item 1" section extracted from annual statements along with filing information. The function imports annual filings (10-K statements) downloaded via getFilings function; otherwise, it automates the downloading process if not already been downloaded. It then reads the downloaded statements, cleans HTML tags, and parse the contents. This function automatically creates a new directory with the name "Business descriptions text" in the current working directory and saves scrapped business description sections in this directory. It considers "10-K", "10-K405", "10KSB", and "10KSB40" form types as annual statements. According to SEC EDGAR's guidelines a user also needs to declare user agent.