London Stock Price Database on WRDS

This is an edited repost of “LSPD now Available on WRDS” from the University of Manchester Business Library Blog Business Research Plus.

LSPD (The London Share Price Database) is a specialized stock price return database. It can be accessed as a monthly or daily database. It does not have the variety of data available in other databases, such as Datastream or Bloomberg, but concentrates instead on historic stock price coverage and the quality of its returns data.

WRDS LSPD Screen

 LSPD has particular strengths in several areas:

  • Good representative coverage for 1955-1974, full coverage 1975 to date
  • Full historic details of company name changes and Stock Exchange Daily Official List (SEDOL) code changes
  • Details of dividend announcement dates, as well as ex-dividend and payment dates
  • Data on reasons for a company’s delisting

For brief details of LSPD you can expand the screenshot above, or go to the LSPD page on the London Business School website. For full details there is an excellent manual on the WRDS site – recommended reading for anyone thinking of using LSPD.

The Business FAQ covers access to WRDS as well as additional information on finding total returns on stocks.

Yablon Financial Resources Lab – Open for Business

The Yablon Financial Resources Lab opened to students this week. The room contains 11 Bloomberg terminals, 9 S&P Capital IQ stations, and an instructor machine. The room is set up with 2 projectors and 2 screens for financial database instruction (Bloomberg 101, S&P Capital IQ Essentials, etc). Students will need a Wharton username and password to log onto the machines. We are very grateful to Jill & Paul Yablon for making this happen for us. Thank you for being bullish on Lippincott! Below are some pictures of the new space.

Yablon Collage

Play on WRDS: EVENTUS for Event Studies

In use by 300 institutions worldwide, Wharton Research Data Services (WRDS) is a comprehensive source of financial, accounting, economic, management, marketing, banking, and insurance data. WRDS offers access to more than 40 separate databases. Popular databases in WRDS suite include:

COMPUSTAT (detailed historical financial data on the world’s largest public companies) and CRSP (daily stock prices and returns for U.S. companies).

EVENTUS is a program designed for event studies – the examination of the impact of an event on the value of a company. EVENTUS is not a typical WRDS database. Unlike most, it is not a data file, but rather a program that uses the CRSP file as its data source. Examples of event studies might be:

What effect does joining the S&P 500 have on the value of a company’s stock?

Does the announcement of an acquisition typically raise or lower the acquiror’s stock price?

To answer these types of questions, the EVENTUS program requires only a company identifier and the date the event (such as an acquisition) was made public. The program then calculates what is known as “Abnormal Returns” of the stock. This is the actual return minus the expected return if the event had not taken place. The calculation averages the abnormal returns across companies and time periods.

EVENTUS extracts the total return data needed for its calculation from the CRSP stock price database. As company identifiers, it uses CUSIP numbers or PERMNOs (a unique company number assigned by CRSP to each company they cover).

The first few entries of a file for an EVENTUS study might look like this: Continue reading

Where is She?

Women currently make up 46.9% of the labor force in the U.S. according to the Bureau of Labor Statistics, Current Population Survey, Household Data, annual averagesEmployment status of the civilian noninstitutional population 16 years and over by sex, 1972 to date. In fact, 57.7% of all women 16 years and over are in the labor force.

Where can we find out where women are working, what are their occupations, and how much they earn?   A number of resources provide this information.  Below are a selection of resources.

Labor Force Statistics: U.S.

For the United States, the U.S. Bureau of Labor Statistics is a great place to begin.  Statistics are available nationally and by state.  Not only do they provide monthly and quarterly population surveys which include employment by gender, but they also publish the annual survey: Women in the Labor Force: A Databook. This survey provides data on women workers including age, ethnicity, occupation, marital status and children.

A complete listing of U.S. government data can be found here: women and work.

Labor Force Statistics:  International

UNSTATS (United Nations). The section on Gender Info provides statistics for developed and developing nations.  Participation in the Labor Force is available from 1985-2010.

The International Labour Organization, part of the United Nations, provides historical data (1969- ) on employment by sex and economic activity for over 200 countries.  The data is available from LABORSTA (1969-2008) and, more recently, ILOSTAT, (2009- ).

OECD iLibrary provides detailed statistics by gender on employment, occupation and other indicators for developed nations.  Under Key Tables, click on Employment and Labour Markets: Key Tables from OECD.

Professional Women Continue reading

Bloomberg LaunchPad: It’s Not Rocket Science – Part III: Adding Components and Pages and Organizing the Group View

This is the third installment of Bloomberg LaunchPad: It’s Not Rocket Science.         Part I provides an overview of terms and tools.  In Part II we learned how to create a basic Monitor and create a View.  Now we will add Components to our View and organize it using the Docking tool and the Group Monitor tool.

Once you have created the Monitor and saved the View, you can add components.

There are several Launchpad Tool Functions that will be used.

Launchpad1

Add Components

Type BLP to open Launchpad.  Use the Tools Function and select Monitor Manager.

Launch the Monitor you want to use.

Launchpad2

Now, just like creating a Monitor, use the Launchpad tool to search for other Components. Type a word in the keyword search box as shown below and a Component will appear on the screen.  For instance, type in Historical Price. An active screen pops up.

Launchpad3

Launchpad4Or, use the Browse function to retrieve other Components. Click on the one you want. When you use the Browse function, samples appear to show you what is included in that Component.  Then click on Launch Component.

Next, use your cursor to physically move components close to the Monitor you have opened.

Launchpad5

Customize Components

Continue to add additional Components such as News Panel (current news), charts or functions.

You can use the tools function in any Component to customize it.  For example, for Historical Prices notice the Amber colored fields in the graph below.  You can customize any of these such as date range or currency. Continue reading