Our solution

Cognition deployed a team of analysts with extensive experience in financial research projects, supported by resources proficient in Spanish.

• The team initially obtained financial documents for the given companies from the website of Registro Mercantil Central (RMC), Spain’s official company register. The team then created a script that can highlight several terms, such as fondos propios, capital, and capital social, in a financial document, allowing the analysts to swiftly scan the text for sections / paragraphs containing information on share capital changes.
  • The following fields were recorded for companies that experienced capital changes: Number of shares offered or bought back; Share price; Capital increased or decreased; Total shares after capital increase or reduction; Share class; Currency.

• The team processed all the collected data, ensuring quality and consistency in the format (as per the client’s database guidelines). It also performed several in-line calculations to determine all the capital changes for companies that had several adjustments (capital growth or reduction) in one year.
• During the process, the team also identified companies whose capital changes were not adequately reported; detailed comments were added to highlight such discrepancies for the benefit of the end users of this dataset.