Navigating the Computational Turn: Global Trends and Cross-Cultural Challenges in AI-Enabled Financial Statement Analysis
References
- Acheampong, A., & Elshandidy, T. (2025). Does sustainability disclosure improve analysts’ forecast accuracy? Evidence from European banks. Financial Innovation, 11(1), 1–32. https://doi.org/10.1186/s40854-024-00693-5.
- Aini, A. N., Sukmadilaga, C., & Ghani, E. K. (2023). Green Bonds, Investor Attention and Stock Market Reaction: Evidence from ASEAN Countries. International Journal of Energy Economics and Policy, 13(6), 334–343. https://doi.org/10.32479/ijeep.15162.
- Altman, E. I. (1968). Financial ratios, discriminant analysis and the prediction of corporate bankruptcy. The Journal of Finance, 23(4), 589–609. https://doi.org/10.1111/j.1540-6261.1968.tb00843.x.
- Aria, M., & Cuccurullo, C. (2017). bibliometrix: An R-tool for comprehensive science mapping analysis. Journal of Informetrics, 11(4), 959–975. https://doi.org/10.1016/j.joi.2017.08.007.
- Atan, R., Razali, F. A., Said, J., & Zainun, S. (2016). Environmental, social and governance (ESG) disclosure and its effect on firm’s performance: A comparative study. International Journal of Economics and Management, 10(Special Issue 2), 355–375.
- Bananuka, J., Tumwebaze, Z., & Orobia, L. (2019). The adoption of integrated reporting: A developing country perspective. Journal of Financial Reporting and Accounting, 17(1), 2–23. https://doi.org/10.1108/JFRA-09-2017-0089.
- Blankespoor, E., deHaan, E., & Marinovic, I. (2020). Disclosure processing costs, investors’ information choice, and equity market outcomes: A review. Journal of Accounting and Economics, 70(2–3), 101344. https://doi.org/10.1016/j.jacceco.2020.101344.
- Bochkay, K., Brown, S. V., Leone, A. J., & Tucker, J. W. (2023). Textual analysis in accounting: What’s next? Contemporary Accounting Research, 40(2), 765–805. https://doi.org/10.1111/1911-3846.12825.
- Calandra, D., Lanzalonga, F., Secinaro, S., & Storti, C. C. (2025). From traditional to digital: Unravelling performance measurement systems and accounting methods in drug treatment through a systematic review and content analysis. The British Accounting Review, 57(6), 101665. https://doi.org/10.1016/j.bar.2025.101665.
- Choi, A., Kim, S., Lee, H., & Park, J. (2025). Corporate Social Responsibility (CSR) and Firm Value: International Evidence on the Role of CSR Assurance. Journal of International Financial Management and Accounting, 36(3), 502–536. https://doi.org/10.1111/jifm.12234.
- Cobo, M. J., López ‑Herrera, A. G., Herrera ‑Viedma, E., & Herrera, F. (2011). An approach for detecting, quantifying, and visualizing the evolution of a research field: A practical application to the Fuzzy Sets Theory field. Journal of Informetrics, 5(1), 146–166. https://doi.org/10.1016/j.joi.2010.10.002.
- Darus, F., Safihie, S. F. M., & Yusoff, H. (2019). Propagating transparency and accountability through integrated reporting: An empirical insight from a developing country. International Journal of Financial Research, 10(5), 92–109. https://doi.org/10.5430/ijfr.v10n5p92.
- De Bem Machado, A., Secinaro, S., Calandra, D., & Lanzalonga, F. (2022). Knowledge management and digital transformation for Industry 4.0: A structured literature review. Knowledge Management Research & Practice, 20(2), 320–338. https://doi.org/10.1080/14778238.2021.2015261.
- Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296. https://doi.org/10.1016/j.jbusres.2021.04.070.
- Doupnik, T. S., & Tsakumis, G. T. (2004). A critical review of tests of Gray’s theory of cultural relevance and suggestions for future research. Journal of Accounting Literature, 23, 1–48.
- Farihah, E., Sukmadilaga, C., Ghani, E. K., & Lestari, T. U. (2024). Assessing Banks’ Performance in Sustainability Practices and Programs during the COVID-19 Pandemic: The Case of Indonesian Banks. Global Business and Finance Review, 29(6), 31–46. https://doi.org/10.17549/gbfr.2024.29.6.31.
- Farooq, M. B., Ahmed, A., Khan, R., & Hassan, M. K. (2025). Forward-looking information: Does IIRC framework adoption matter? Sustainability Accounting, Management and Policy Journal, 16(1), 292–315. https://doi.org/10.1108/SAMPJ-11-2023-0857.
- Fijałkowska, J., & Lanzalonga, F. (2025). Working Later in Life: How Research Frames the Challenges and Possibilities of Ageing at Work. Journal of Intercultural Management, 17(2), 5–37. https://doi.org/10.2478/joim-2025-0005.
- Ferjančič, U., Ichev, R., Lončarski, I., Montariol, S., Pelicon, A., Pollak, S., Sitar Šuštar, K., Toman, A., Valentinčič, A., & Žnidaršič, M. (2024). Textual analysis of corporate sustainability reporting and corporate ESG scores. International Review of Financial Analysis, 96, 103669, 1–15. https://doi.org/10.1016/j.irfa.2024.103669.
- Gray, S. J. (1988). Towards a theory of cultural influence on the development of accounting systems internationally. Abacus, 24(1), 1–15. https://doi.org/10.1111/j.1467-6281.1988.tb00200.x.
- Hajek, P., & Henriques, R. (2017). Mining corporate annual reports for intelligent detection of financial statement fraud – A comparative study of machine learning methods. KnowledgeBased Systems, 128, 139–152. https://doi.org/10.1016/j.knosys.2017.05.001.
- Hasan, A., Aly, D., & Hussainey, K. (2025). The impact of corporate governance on narrative disclosure tone: A machine learning approach. Journal of Applied Accounting Research, 26(3), 577–602. https://doi.org/10.1108/JAAR-10-2023-0323.
- Hichri, A. (2023). Integrated reporting, audit quality: Presence of environmental auditing in an international context. European Business Review, 35(3), 397–425. https://doi.org/10.1108/EBR-03-2022-0044.
- Hofstede, G. (1980). Culture’s consequences: International differences in work related values. Sage Publications.
- Indrasari, A., Nadhifah, N., Arifin, N. R., Sasongko, N., & Sari, M. P. (2021). Motivational Factors of Implementing Corporate Social and Environmental Reporting and Its Impact on Performance. The Journal of Asian Finance, Economics and Business, 8(2), 883–892. https://doi.org/10.13106/jafeb.2021.vol8.no2.0883.
- Injeni, G., Tumwebaze, Z., Bananuka, J., & Mukyala, V. (2022). Agency and institutional--related factors and the heterogeneity of sustainability and integrated report information disclosures in Kenya. Journal of Financial Reporting and Accounting, 20(5), 809–840. https://doi.org/10.1108/JFRA-10-2020-0305.
- Küster, S., Steindl, T., & Göttsche, M. (2025). The informational content of key audit matters: Evidence from using artificial intelligence in textual analysis. Contemporary Accounting Research, 42(4), 2392–2423. https://doi.org/10.1111/1911-3846.13070.
- Lev, B., & Thiagarajan, S. R. (1993). Fundamental information analysis. Journal of Accounting Research, 31(2), 190–215. https://doi.org/10.2307/2491270.
- Li, T., & Zhou, J. (2024). A Study of Machine Learning-Based Methods for Analyzing Financial Statements. In: L. C. Jain, V. E. Balas, R. Kountchev, & V. K. Pandey (Eds.), Frontiers in Artificial Intelligence and Applications (pp. 870–877). IOS Press. https://doi.org/10.3233/FAIA241182.
- Liaras, E., Nerantzidis, M., & Alexandridis, A. (2024). Machine learning in accounting and finance research: A literature review. Review of Quantitative Finance and Accounting, 63(4), 1431–1471. https://doi.org/10.1007/s11156-024-01306-z.
- Lin, W., & Yang, T. (2025). Design and Development of Deep Learning based Financial Statement Analysis. In: 2025 International Conference on Intelligent Computing and Knowledge Extraction (ICICKE 2025). IEEE. https://doi.org/10.1109/ICICKE65317.2025.11136439.
- Liu, R. (2025). Enhancing automated financial statement analysis using fuzzy logic algorithms. Discover Computing, 28, 323. https://doi.org/10.1007/s10791-025-09858-x.
- Liu, Y.‑W., Liu, L.‑C., Wang, C.‑J., & Tsai, M.‑F. (2016). FIN10K: A web-based information system for financial report analysis and visualization. In: Proceedings of the 25th ACM International Conference on Information and Knowledge Management (pp. 2441–2444). ACM. https://doi.org/10.1145/2983323.2983328.
- Loughran, T., & McDonald, B. (2011). When is a liability not a liability? Textual analysis, dictionaries, and 10-Ks. The Journal of Finance, 66(1), 35–65. https://doi.org/10.1111/j.1540--6261.2010.01625.x.
- Loughran, T., & McDonald, B. (2016). Textual analysis in accounting and finance: A survey. Journal of Accounting Research, 54(4), 1187–1230. https://doi.org/10.1111/1475-679X.12123.
- Maama, H. (2021). Institutional environment and environmental, social and governance accounting among banks in West Africa. Meditari Accountancy Research, 29(6), 1314–1336. https://doi.org/10.1108/MEDAR-02-2020-0770.
- Maama, H., & Appiah, K. O. (2019). Green accounting practices: Lesson from an emerging economy. Qualitative Research in Financial Markets, 11(4), 456–478. https://doi.org/10.1108/QRFM-02-2017-0013.
- Massaro, M., Dumay, J., & Guthrie, J. (2016). On the shoulders of giants: Undertaking a structured literature review in accounting. Accounting, Auditing & Accountability Journal, 29(5), 767–801. https://doi.org/10.1108/AAAJ-01-2015-1939.
- Malchev, D., Trpeska, M., & Cvetkoska, V. (2025). Mapping the Evolution of Financial Statement Aanalysis: A Comprehensive Bibliometric Review. Croatian Economic Survey, 27(2), 107–146. https://doi.org/10.15179/ces.27.2.4.
- Markhayeva, B. (2016). Corporate Social Responsibility in Kazakhstan: Content analysis of annual reports of the listed oil and gas companies. In D. Vasilenko & N. Khazieva (Eds.), Proceedings of the 4th International Conference on Management, Leadership and Governance (ICMLG 2016) (pp. 217–225). Academic Conferences Limited.
- Martínez‑Ferrero, J., Garcia‑Sanchez, I. M., & Cuadrado ‑Ballesteros, B. (2015). Effect of financial reporting quality on sustainability information disclosure. Corporate Social Responsibility and Environmental Management, 22(1), 45–64. https://doi.org/10.1002/csr.1330.
- Mehul, K., Kanagavalli, V. R., Saradha, K., R., Gowtham, P. N., Sachin, M. P, Surya, U., Godhandaraman, R., Girish, S., & Naveen, R. (2025). Gen AI Driven FAQ Chatbot Using Advanced RAG Architecture for Querying Annual Reports. In: 2025 International Conference on Computing and Communication Technologies (ICCCT 2025). IEEE. https://doi.org/10.1109/ICCCT63501.2025.11020025.
- Nguyen, B.‑H., & Huynh, V.‑N. (2022). Textual analysis and corporate bankruptcy: A financial dictionary-based sentiment approach. Journal of the Operational Research Society, 73(1), 102–121. https://doi.org/10.1080/01605682.2020.1784049.
- Nießner, T., Nickerson, R. C., & Schumann, M. (2021). Towards a taxonomy of AI-based methods in financial statement analysis. In: 27th Annual Americas Conference on Information Systems (AMCIS 2021). Association for Information Systems. https://aisel.aisnet.org/amcis2021/data_science_decision_support/data_science_decision_support/6/.
- Nießner, T., Nießner, S., & Schumann, M. (2022). Influence of Corporate Industry Affiliation in Financial Business Forecasting: A Data Analysis Concerning Competition. In: 28th Americas Conference on Information Systems (AMCIS 2022). Association for Information Systems. https://aisel.aisnet.org/amcis2022/sig_dsa/sig_dsa/12.
- Nießner, T., Nießner, S., & Schumann, M. (2023). Is It Worth the Effort? Considerations on Text Mining in AI-Based Corporate Failure Prediction. Information, 14(4), 215. https://doi.org/10.3390/info14040215.
- Okoli, C., & Schabram, K. (2010). A guide to conducting a systematic literature review of information systems research. SSRN. https://dx.doi.org/10.2139/ssrn.1954824.
- Ou, J. A., & Penman, S. H. (1989). Financial statement analysis and the prediction of stock returns. Journal of Accounting and Economics, 11(4), 295–329. https://doi.org/10.1016/0165-4101(89)90017-7.
- Paul, J., & Criado, A. R. (2020). The art of writing literature review: What do we know and what do we need to know? International Business Review, 29(4), 101717. https://doi.org/10.1016/j.ibusrev.2020.101717.
- Paul, J., Lim, W. M., O’Cass, A., Hao, A. W., & Bresciani, S. (2021). Scientific procedures and rationales for systematic literature reviews (SPAR-4-SLR). International Journal of Consumer Studies, 45(4), O1–O16. https://doi.org/10.1111/ijcs.12695.
- Petruzzelli, S., & Badia, F. (2024). The quality assessment of stakeholder engagement disclosure in the EU mandatory non-financial reporting framework. Journal of Applied Accounting Research, 25(1), 126–148. https://doi.org/10.1108/JAAR-11-2022-0290.
- Piotroski, J. D. (2000). Value investing: The use of historical financial statement information to separate winners from losers. Journal of Accounting Research, 38(Supplement), 1–41. https://doi.org/10.2307/2672906.
- Qian, J., Lin, H., & Chen, C. (2025). Digital transformation and ESG performance: Evidence from China’s carbon-intensive firms. Applied Economics. Applied Economics, 58(18), 3569–3582. https://doi.org/10.1080/00036846.2025.2488529.
- Qu, Y., Quan, P., Lei, M., & Shi, Y. (2019). Review of bankruptcy prediction using machine learning and deep learning techniques. In: E. Herrera-Viedma, J. Kacprzyk, A. M. Madureira, & I. F. Hassanien (Eds.), Procedia Computer Science (pp. 895–899). Elsevier. https://doi.org/10.1016/j.procs.2019.12.065.
- Rauf, F., & Baolei, Q. (2025). Enhancing ESG disclosure through AI adoption: The moderating role of institutional quality. Applied Economics, 1–19. https://doi.org/10.1080/00036846.2025.2547117.
- Rowbottom, N., Locke, J., & Troshani, I. (2021). When the tail wags the dog? Digitalisation and corporate reporting. Accounting, Organizations and Society, 92, 101226. https://doi.org/10.1016/j.aos.2021.101226.
- Sadraei, R., Biancone, P., Lanzalonga, F., Jafari‑Sadeghi, V., & Chmet, F. (2023). How to increase sustainable production in the food sector? Mapping industrial and business strategies and providing future research agenda. Business Strategy and the Environment, 32(4), 2209–2228. https://doi.org/10.1002/bse.3244.
- Salter, S. B., & Niswander, F. (1995). Cultural influence on the development of accounting systems internationally: A test of Gray’s [1988] theory. Journal of International Business Studies, 26, 379–397. https://doi.org/10.1057/palgrave.jibs.8490179.
- Secinaro, S., Brescia, V., Lanzalonga, F., & Santoro, G. (2022). Smart city reporting: A bibliometric and structured literature review analysis to identify technological opportunities and challenges for sustainable development. Journal of Business Research, 149, 296–313. https://doi.org/10.1016/j.jbusres.2022.05.032.
- Secinaro, S., Lanzalonga, F., Oppioli, M., & De Nuccio, E. (2025). The effects of disruptive technologies on accountability in fintech industry: Using bibliometric analysis to develop a research agenda. Research in International Business and Finance, 76, 102816, 1–19. https://doi.org/10.1016/j.ribaf.2025.102816.
- Seow, R. Y. C. (2025). Connecting the dots in ESG review research: Insights from systematic literature review and bibliometric analysis. Journal of Economic Surveys. https://doi.org/10.1111/joes.70045.
- Stratopoulos, T. C., & Wang, V. X. (2025). Artificial intelligence and accounting research: A framework and agenda. International Journal of Accounting Information Systems, 56, 100760. https://doi.org/10.1016/j.accinf.2025.100760.
- Sukmadilaga, C., Santoso, M. E. P, & Ghani, E. K. (2023). Ownership concentration, sustainability practices, and cost of debt: Evidence from ASEAN countries. Asian Economic and Financial Review, 13(6), 416–430. https://doi.org/10.55493/5002.v13i6.4796.
- Troshani, I., & Rowbottom, N. (2021). Digital corporate reporting: Research developments and implications. Australian Accounting Review, 31(3), 213–232. https://doi.org/10.1111/auar.12334.
- Tsiouni, M., Kountios, G., Kousenidis, K., Kousenidis, D., Tzamaloukas, O., & Simitzis, P. (2023). Financial Ratio Analysis as an Advisory Tool for Sustainable Pig Farm Management in Greece. Sustainability, 15(21), 15536. https://doi.org/10.3390/su152115536.
- Tsiouni, M., Kountios, G., Papadavid, G., & Kyriakidou, A. (2024). The Role of ESG Advisory as an Innovative Tool for Sustainable Financial Development: The Evidence of the Food Companies. In: A. Christofe et al. (Eds.), Proceedings of SPIE – The International Society for Optical Engineering. SPIE. https://doi.org/10.1117/12.3036915.
- van Eck, N. J., & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84, 523–538. https://doi.org/10.1007/s11192-009-0146-3.
- Wang, H., & Kang, Z. (2025). Linking High-Risk Companies to Special Treatment (ST) Status: A Large Language Model Approach for Corporate Risk Evaluation. In: ADMIT 2024 – 3rd International Conference on Algorithms, Data Mining, and Information Technology (pp. 413–417). ACM. https://doi.org/10.1145/3701100.3702877.
- Zeng, S., & Dai, S. (2025). Synergizing domain knowledge and machine learning: Intelligent early fraud detection enhanced by earnings management analysis. International Review of Finance, 25(2), e70021. https://doi.org/10.1111/irfi.70021.
- Zhao, X., Zhai, G., Chales, V., Gherman, T., Lee, H., Pan, T., & Shang, Y. (2024). Enhancing enterprise investment efficiency through artificial intelligence: The role of accounting information transparency. Socio Economic Planning Sciences, 96, 102092. https://doi.org/10.1016/j.seps.2024.102092.
- Zhu, X., Wu, H., Chang, Y., & Li, J. (2025). Accounting fraud detection through textual risk disclosures in annual reports: From the perspective of SEC guidelines. Accounting and Finance, 65(2), 1837–1862. https://doi.org/10.1111/acfi.13390.
- Zupic, I., & Čater, T. (2015). Bibliometric methods in management and organization. Organizational Research Methods, 18(3), 429–472. https://doi.org/10.1177/1094428114562629.
DOI: https://doi.org/10.2478/joim-2026-0001 | Journal eISSN: 2543-831X (formerly 2080-0150) | Journal ISSN: 2080-0150
Language: English
Page range: 5 - 54
Published on: Aug 6, 2026
Published by: SAN University
In partnership with: Paradigm Publishing Services
Keywords:
Related subjects:
© 2026 Justyna Fijałkowska, Federico Lanzalonga, published by SAN University
This work is licensed under the Creative Commons Attribution-ShareAlike 4.0 License.