getBusinessDescr retrieves business description section from annual statements
based on CIK number(s) and filing year(s).
getBusinDescr(cik.no, filing.year)Function saves scrapped business description section from annual filings in "edgar_BusinDescr" 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' considers all the CIKs.
vector of four digit numeric year
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 "edgar_BusinDescr" 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. User must follow the US SEC's fair access policy, i.e. download only what you need and limit your request rates, see https://www.sec.gov/os/accessing-edgar-data.