Subject. This article discusses the ESG social component, text analysis of reporting, and the industry-based approach. Objectives. The article aims to develop and test a methodology for constructing a social index based on thematic analysis of corporate non-financial reporting of Russian companies. Methods. For the study, we used the topic modeling method (LDA). Results. The article identifies industry differences in the disclosure of the social agenda and determines the influence of individual topics on the market capitalization of companies. It also presents a constructed time and industry-standardized panel that reflects both the average changes in the S-component and the company rating. Conclusions and Relevance. The average value of the social component of ESG notes a steady trend towards an increase in the depth and completeness of disclosure of the social agenda in reporting. The proposed index reflects the real priorities of companies and can be used for industry and inter-company comparisons, as well as in ESG analysis, investment analytics, and corporate governance.
Keywords: ESG, social index, text analysis, corporate reporting, topic modeling
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