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Some Guidelines to use SeekiNF (Download hard copy)
Use of Exact Phrases:
You can search any document with a combination of exact phrases with "AND", "OR", or any combination.
Seek iNF uses "+" for AND, "|" for OR, and "-" for negation with or without space before and after
the symbol. Type the phrases in the "With the exact phrase" slot.
Suppose we have three phrases represented by A, B, & C.
- For AND logic, type the phrases separated by + sign as: A + B + C
- For OR logic, type the phrases separated by | symbol as: A | B | C
- For AND and OR: such as A&(B or C): Type A+(B | C)
- For AND and negation such as “A & B & notC”. Type as A+B-C
- For OR and Negation such as “(A or B)& notC”. Type as (A | B) –C
Some Important points to remember:
- “ With the exact phrase” and “Proximity Search” work together as “AND” logic.
- “With the exact phrase” and “With all the words” together work as “AND” logic.
- “With the exact phrase” and “With any one of the words” work as “OR” logic.
- “Without the words” would work only when you are using another criterion.
- The Wild card search will not work in “With the exact phrase” and “Proximity Search”.
Example 6 - A Measure of Competition Based on 10 K:
A Measure of Competition Based on 10-K Filings by Li, Lundholm, and Minnis, in Journal of Accounting Research, Vol. 51 No. 2
May 2013, pp: 399-436.
This paper computes management's perceptions of the intensity of the competition using textual analysis of the firm's 10-K filing.
They count the number of occurrences of “competition, competitor, competitive, compete, competing,” including those words with an
"s" appended, and then remove any case where "not," "less," "few," or "limited" precedes the word by three or fewer words.
Their measure of competition is PCTCOMP = NCOMP/NWORDS
NCOMP = number of words in 10K as described above
NWORDS = Total number of words without numbers
SeekiNF yields these counts in seconds
Let us consider companies in Telephone Communication industry, SIC = 4813, and get the list of companies that have mentioned
the word "Competition" but no mention of "Less Competition" as one of the criteria of the authors and obtain a measure of PCTCOMP
as defined above. Here is what you do in SeekiNF:
Step1-Enter Key word to Search: Type the following Competition - less competition in the slot “With the exact phrase”. This will look for the
presence of the word competition but absence of less competition.
Step 2: Select Company Name, SIC and Date: Since we want all the companies, in SIC Code 4813, type 4813 in the slot for SIC and select the
industry and leave the default choice "All" in the slot "Company" and select the desired time frame 1994-2014.
Step 3 – Select Resolution: Select Paragraph (All)
Step 4- Select Document Type: Select 10K
Step 5-SUBMIT: Click on Submit button (See the details in the next slide)
In just 6 seconds, 317 companies in Telephone Communication Industry that had the word "competition" and
no "less competition" are obtained:
Download the word distribution for few companies and compute the index. In each case it takes only few seconds to get the distribution.
Here are PCTCOMPs for few companies for 1999. This is just an illustration of the process involved. One needs to remove the cases with
the words few, limited, not as mentioned in the paper:
Globix Corp: PCTCOMP = 1.003; IXNET Inc.: PCTCOMP = 1.022; Airgate Wireless Inc.: PCTCOMP = 2.820
Just for curiosity, we have computed PCTCOMP for Globix for 1999 – 2015 to see if it has changed over the years. It would be an interesting
question, if it changes then why? It seems the company did not exist as Globix after 2006. Here are the results:
1999: 1.003; 2000: 0.153; 2001:0.285 ; 2002: 0.436; 2003: 0.435; 2004: 1.034; 2005: 1.728; 2006: 1.210.
Example 7 - Wild Card Search:
Suppose you are working on a project similar to “A Measure of Competition Based on 10-K Filings by Li, Lundholm, and
Minnis, in Journal of Accounting Research, Vol. 51 No. 2 May 2013, pp: 399-436.”
Use of WILD CARD search will be the easiest way to get all the companies’ 10Ks that have these words:
“competition, competitor, competitive, compete, competing,” including those words with an “s” appended.
Type compet* in “With all the words” and the word competent in “Without the words” in Step 1, select “all” and
select a time period in Step 2, say 2014-2014, select “Paragraph (all)” in Step 3, and 10K & 10K/A in Step 4,
and then click on Submit in Step 5. 5,323 companies are obtained in 8 seconds.
The right hand side is the word distribution for all those 10Ks. One can use the exact phrase to eliminate
some words such as less competitive or limited competition.
Example 8 - Unique Financial Information from 10K
There are many unique financial line items that are not available in any of the current databases. For example,
you want to find Air Traffic Liability for airline companies for the year 2015. This information is not easily
available. Here is what you can do to get this number:
Step1-Enter Key word to Search: Type the phrase Air Traffic Liability in the slot “With the exact phrase”
Step 2: Select Company Name, SIC and Date: Since we want all the companies, leave the default choice “All” and
select the desired time frame 1994-2014.
Step 3 – Select Resolution: Select Table
Step 4- Select Document Type: Select 10K
Step 5-SUBMIT: Click on Submit button
You can download the entire table in MS Excel or copy and paste just that line item.
Here is the example:
| | 2014 | 2015 |
| Air traffic liability | $150,479 | $138,890 |
Our system is unique. One can search by key words even for financial information. We are making this aspect even more
robust and efficient.
Example 9 - Going Concern Opinions from 10Ks
Suppose you want to get all the companies that received going concern opinion between 1994-2015 (as of 05-10-2015).
This is easy, you can get this result in few seconds. There is nothing in the market that can give you such a result
on-line, as current. Here is what you need to do.
Step1-Enter Key word to Search: Type the phrases raise substantial doubt about +going concern in the slot
“With the exact phrase”
Step 2: Select Company Name, SIC and Date: Since we want all the companies, leave the default choice “All”
and select the desired time frame 1994-2015.
Step 3 – Select Resolution: Select Audit Report
Step 4 – Select Document Type: Select 10K (all versions of 10K)
Step 5 – SUBMIT: Click on Submit button
In few seconds, 17,294 companies names that received going concern opinions are obtained,
you can also download all the companies information in an Excel spreadsheet.
Next, you can get the going concern opinions by audit firms by re-searching the going concern opinions
with audit firm names. This can be achieved in few seconds.
Keep the same search criteria as the previous case but add the phrase, say, Deloitte, in the slot
“With all of the words” to get the going concern opinions issued by Deloitte. ( In few seconds, 819 opinions are obtained).
This shows the power of our system that allows you to get specific piece of information for your research.
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