Tracking sustainable Industry 4.0 for listed companies

Abstract

The goal of this study is to develop replicable methodology to diagnose sustainable Industry 4.0 status in listed companies. Quantitative content analysis using MAXQDA software was applied. The content of documents was mapped according to the predefined set of keywords (dictionary) and categories with lemmatization of keywords. Both annual reports and Internet news were analysed. Finally, quantitative analysis of keywords occurrence was performed, and descriptive statistics with correlation analysis was presented comparing findings for annual reports and Internet news. The methodology was demonstrated based on companies listed on the Warsaw Stock Exchange, representing ca. two thirds of total market capitalization and many different sectors. Communication in annual reports and Internet news exhibited in-consistencies and dependent on or influenced by company’s characteristics. The re-search effectively addressed research questions regarding the inclusion of Industry 4.0 and sustainability issues in company’s report and Internet communication. A limitation of the presented study is the lack of a qualitative perspective to explain potential phenomena underlying the uncovered potential correlations. Nonetheless, the methodology can serve signals for policymakers, to position economies in different countries concerning Industry 4.0 and sustainability. Furthermore, the presented re-search demonstrates excellent potential for replicability and traceability. It can be applied to other indices for sample selection, comparative analyses of sectors and branches, explore markets, and enable year-to-year comparisons.