Romanian Corporate Discourse Within the Context of Digital Transformation: A Multi-Methodological Longitudinal Analysis

Dănescu Tatiana () and Stejerean Roxana Maria ()
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Dănescu Tatiana: Department of Economic Sciences, Faculty of Economics and Law, University of Medicine, Pharmacy, Science and Technology “George Emil Palade” of Târgu Mureș, Târgu Mureș, Romania
Stejerean Roxana Maria: Doctoral School of Accounting, “1 Decembrie 1918” University of Alba Iulia, Alba Iulia, Romania

Studia Universitatis „Vasile Goldis” Arad – Economics Series, 2025, vol. 35, issue 4, 51-77

Abstract: This research investigates how the health crisis influenced digital technology adoption in the official discourse of Bucharest Stock Exchange companies by analysing annual financial reports from 2017 to 2024, divided into pre-pandemic (2017-2019) and post-pandemic (2020-2024) periods. The study employs a comprehensive methodology on 120 annual reports from BET index companies, using: (1) TF-IDF score calculations to quantify technology term relevance; (2) event studies assessing pandemic impact; (3) Latent Dirichlet Allocation (LDA) topic modelling; (4) longitudinal topic distribution analysis; and (5) regression modelling with dummy variables. Results confirm all five hypotheses. TF-IDF scores reveal significant technological terminology increases during 2020-2021, followed by gradual stabilization. Event study analysis demonstrates substantial pandemic-driven transformations, with teleworking and digitization terms increasing 116.09% and new telework concepts emerging. LDA modelling identified major thematic reconfiguration, shifting from blockchain and automation focus to digital infrastructure and cybersecurity dominance. Regression models confirm the pandemic’s catalytic effect through statistically significant post-COVID dummy variable coefficients. The findings highlight the pandemic’s impact on corporate digital discourse transformation among Romanian public companies.

Keywords: Digitalization; digital transformation; COVID-19; content analysis; TF-IDF; LDA (search for similar items in EconPapers)
JEL-codes: C38 G14 M15 O33 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:suvges:v:35:y:2025:i:4:p:51-77:n:1003

DOI: 10.2478/sues-2025-0018

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