Welcome to Lippincott Library Fall 2016

Welcome to the Fall 2016 semester and the Lippincott Library!!    The Lippincott Library supports the academic and research needs of the Wharton School.  Visit our website, contact us, chat with us, email lippinco@wharton.upenn.edu or stop by and see us.

Here’s a few tips to help get you started.

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X marks the spot!!  Lippincott is located at 3420 Walnut Street.  Just look for the statue of “Broken Button“, located on Locust Walk at the entrance to the Van Pelt Library Building.  Lippincott is located on the 2nd floor, west wing of the building.

Use our Lippincott Services Guide to learn about all of our services.

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The Yablon Financial Resources Lab, located at the library, includes Bloomberg and Capital IQ terminals.  This space is available to Wharton students only whenever the building is open.

 

 

 

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Read  Datapoints, Lippincott’s blog,  to find out about business databases including content coverage and search tips. Posts also cover Workshops, such as Bloomberg 101 and other Library happenings.

 

Search the Business FAQ to locate the best resources to answer your research question.

 

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Follow us on Twitter@LippincottLib

 

 

 

Book our group study rooms to practice presentations, hold meetings, and create content as a group.  These include 4 small study spaces, 2 group meeting rooms and a larger Seminar Room.

Join friends for a snack in Mark’s Café

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Make use of all of the equipment and programs available at the Weigle Information Commons .

 

 

Sign up for workshops including Bloomberg 101, Entrepreneurship,  and Job Interview Prep.

Using Capital IQ to screen for company executives and board members

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S&P Capital IQ is a premier financial database that is available for the use of Wharton students in the Yablon Financial Resources Lab here in the Lippincott Library, or through MBA Career Management for MBA students during the academic year. One great feature of Capital IQ is the Screenings tool, with which you can generate a list of companies, equities, transactions, or people based on a specific set of criteria that you identify.

Once you create your screening, you are able to export it to Excel. This is particularly useful for the People Screening function if you are looking to download a structured data set on a group of executives that meet specific criteria. There are not many resources that allow you to do this for individual people as opposed to companies or equities as a whole.

However, Capital IQ’s screening tools are not the most intuitive, so finding the specific criteria you want to include in your screening can sometimes be a challenge. Here, we will show you how to pull structured data on executive compensation history for a set of companies. These techniques can be applied to a wide variety of screenings in Capital IQ.

  • To get started, hover over “Screening” in the ribbon at the top of the page and select “People.”

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  • For the purposes of this blog post, let’s say that you want to screen for executives from companies in the S&P 500 index. In the first column of links on the Person Screening screen, click on “Indices” in the “Equity Details” box.

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  • Select “S&P 500 Index” from the list of options.

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  • If you would like to screen for current professionals at these companies, ensure the drop-down is set to “Current Professional.” If you would like to screen for prior professionals, ensure that the drop-down menu is changed to “Prior Professional.” Click “Add Criteria.”

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  • In the 3rd column of criteria on the page, there is an “Employment/Board” window. Click on “Professional Job Functions” in that window to specify which job functions you would like to evaluate in this screening.

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  • Choose the desired job functions from the “Available Items” window. To screen for current professionals, make sure that the “Limit to current job functions only” box is checked, and the drop-down is set to “Current Professionals.” If you are screening for prior (previously employed) professionals, make sure the drop-down menu is changed to “Prior Professionals.” Click “Add Criteria.”

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  • If you would like to screen for board members as opposed to employees, click on “Board Job Functions” in the “Employment/Board” window instead of “Professional Job Functions.” Choose the desired board functions from the “Available Items” window. To screen for current board members, make sure that the “Limit to current job functions only” box is checked, and the drop-down is set to “Current Professionals.” If you are screening for prior board members, make sure the drop-down menu is changed to “Prior Professionals.” Click “Add Criteria.”
  • IMPORTANT: If you want to look at compensation information for current AND prior employees or board members, you will need to run separate screenings for each set of criteria and then combine them in Excel later. For example, if you were interested in looking at data for current and prior executives and board members, you would need to run FOUR separate screenings: current executives, prior executives, current board members, and prior board members.
  • Once you have selected all of your desired criteria, click on the “Customize Display Columns” tab. This is where you are able to select the information you wish to view about each executive who fits your screening criteria.

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  • To display compensation for each executive, click on “Compensation” under “Person Details” in the fourth column. To display available salary information, make sure “Salary” is highlighted. Under time frame, select either “Latest Annual” or the fiscal year of your choice. Click “Add Columns.”
  • To display additional compensation information, such as bonuses, repeat the same steps for each individual criteria.
  • To view options information, click on “Options” under “Person Details” in the fourth column and add  your desired criteria.
  • If you are interested in viewing available education information for the executives in your screening, click on “Education” under “Person Details” in the fourth column. Select your desired criteria, and click “Add Columns”. Repeat for each remaining desired criteria. Note that not all education information is available, and depends on whether it was made public by the executive or the company.

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  • Once you have added all of your desired criteria and column information, click the “View Results” button. This will generate a list of executives meeting your screening criteria. To export the list to Microsoft Excel, make sure that Excel is selected near the top of the screening results and click “Go.” This will generate an Excel spreadsheet for your results.

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  • You can adjust your screening as necessary by clicking “Edit” next to the criteria you would like to adjust. Once you have made the necessary adjustments, click “View Results” again to update the screening. You will need to export the results to Excel again if you haven’t already done so.
  • Your screening is complete! You will be able to use this information to analyze executive compensation for your project.

There are a multitude of additional screenings you can run in Capital IQ, whether you are screening for companies, people, key developments, or transactions. We will focus on other types of screenings you can do in Capital IQ in a future blog post.

Screening for Alumni-Company Links

Job seekers are often interested in identifying companies that employ alumni from their schools. Here are brief descriptions of four databases that  uncover alumni-company links. The databases report on different although overlapping populations, and vary in the number and type of screening variables they provide. The biographical information given typically includes contact data, employment history, and, if publicly available, compensation.
Continue reading

What’s it worth to you? Company Valuation Resources

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Contributors:  Cynthia L. Cronin-Kardon and Mia Wells

Valuation is used in business to determine the price participants are willing to pay or receive to buy or sell a business. Needless to say, the seller is looking to make as much profit on the deal as possible while the buyer hopes to pay as little as possible. Various resources can help determine the best price for the transaction. Listed below are some Lippincott Library resources to help students with assignments for a number of Wharton courses including FNCE207/728 – Corporate Valuation (which also has a course guide); FNCE250/750 – Venture Capital & the Finance of Innovation; and FNCE251/751 – Finance of Buyouts & Acquisitions.


 

Comparable Deals
You’ll want to search for precedent transactions in the industry of the company you are valuing. Several sources allow you to search for comps by industry (SIC code, NAICS code, or alphabetically by name).

BizComps is a database of business sale statistics which are based on small business sales transaction data. After searching by SIC or NAICS code, you’ll be presented with a list of recent deals. Select those of interest and you can run a “Transaction Analysis,” which will give summary statistics/multiples on the deals you’ve chosen. Ask to be logged in by a librarian at our Reference Desk.bizcompsborder

 

Business Valuations by Industry is a print source available at Lippincott Library ReferenceBusValIndusMerged Desk (call number HG4028.V3 B78). It includes detailed studies of actual mergers and acquisitions, including deal “tearsheets”. This source is arranged by industry and includes actual transactions from 2007 through 2009. Profiles of buyers are included as well as some some foreign transactions and deal terminations. This is a great resource when you want to profile selected, covered deals.

 

 

 

Betas
Beta measure the volatility of an industry or company within the market as a whole. Betas help to calculate the risk of an investment.

Industry BetasFor industry betas, use the Ibbotson SBBI Valuation Yearbook, a print guide held at our Reference Desk (call number HG4028.V3 S86).

 

companybetaCompany betas are in Bloomberg, available in the Yablon Financial Resources Lab here in Lippincott, or the Forum level of Huntsman Hall. Search for a company of interest and run the Beta function by typing BETA <Go>.

 

 

Best practices
It’s always smart to look to the experts for advice – these sources will give you tips and tricks when performing a valuation for a company within a certain industry.

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Business Reference Guide is a print source located at Lippincott Library Reference Desk (HD1393.25 .B87). This source provides several types of information which can be used for pricing businesses and franchises.  It is organized by industry and includes industry statistics from IBISWorld, “rules of thumb” by industry analysts, pricing tips, benchmarks, commentary, expenses as a percentage of annual sales and industry costs.

 

 

Standard & Poor’s Net Advantage provides industry surveys. One unique feature of this source the section included for every industry on “How to Analyze a Company in this

S&PIndustry”. To access this, click on Industries, select the survey of interest. Next scroll to the chapter titled, “How to Analyze a(n) […] Company,” which also contains a section on Equity Valuation as well as a glossary of industry terminology.

 

 

 

Company multiples
To track multiples of a company over time, use the sources listed below. This will help you price out the company itself or help you to compare it against a similar firm.

Multiples_VinceS&P Capital IQ provides lots of financial data including multiples. MBAs can access CapIQ via MBA Career Management, while Wharton undergraduates can come to the Yablon Financial Resources Lab and ask to be logged in by a librarian. Search for a public company of interest and look for Financials/Valuation in the left menu. You can change the date range to see multiples over time, as well.

 

BloomFA

Bloomberg is available in the Yablon Financial Resources Lab or the Forum level of Huntsman Hall. Search for a company of interest and run the Financial Analysis function by typing FA <Go>. Look for the Enterprise Value tab.

 

Past M&A deal tearsheets
You may find it helpful to look for past deals to get a sense of how many deals a company has done in the past, what were the specifics of a deal or how active the M&A market is in a certain industry.

Thomson ONE – note that this resource only loads with full functionality when using Internet Explorer. Once inside, scroll over Screening & Analysis, then Deals & League Tables, then M&A to select either a Quick Search or Advanced Search.

Zephyr – select Zephyr Advanced. Pick the variables to define your search. Below is a screenshot of a list of deals. You can click on any of these to get a detailed summary of the deal.Zephyr

This post may have additional information – What’s the Deal? Researching Specific M&A Deals

 

 

 

 

Put our Services to the Test

Welcome to Lippincott and the start of a new academic year!  We have a number of services to help make your life at Penn a lot easier.  Some of these services are described here.

 

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DOCUMENT DELIVERY. Available to MBAs,  PhD candidates and Faculty. Please send an email to docdel@wharton.upenn.edu to request articles and book chapters. Include the full citation for the fastest reply.

BUSINESS FAQ.  Your 24/7 librarian. Search by keyword to find resources on your topic such as financial ratios, consumer demographics, analyst reports and many more.

RESEARCH ASSISTANCE.  Email us, chat, call us at 215-898-5924 or contact a subject specialist on your topic. Ask for a Consultation for yourself or your team. We know where to find the academic resources that you need.

WHARTON LAB COMPUTERS AND PRINTERS.  Too crowded over at Wharton?  Come over to Lippincott and use the Wharton Lab Computers here.  These computers are reserved for Wharton students and have all the same programs and features that are available on Wharton computers.  Sign in using your Wharton account information.

GROUP STUDY ROOMS.  Have a team project or group presentation?  Reserve a room  for your meeting.  Some rooms are larger and can accomodate up to 12 people.

YABLON FINAYablon 1NCIAL RESOURCES LAB.  Bloomberg and Capital IQ are at your fingertips.  Log in with your Wharton account information.  First time you use Bloomberg, create your own account.  Librarians log you into Capital IQ.

 

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DATAPOINTS is the Lippincott Library’s blog. Follow us to learn tricks and tips about Bloomberg and many other Library databases.  Look for postings on new Library resources.  See this post, for example: Top 10 Resources for MBAs .

WORKSbloomberg120611_2_560HOPS.  Wednesdays are Bloomberg days.  Every week we provide Bloomberg training from 3:30 – 4:30 in the Yablon Financial Resources Lab.  You can register here: Business Workshops.   It’s hands-on so be sure to come a few minutes early to create your own Bloomberg account.

We also offer other workshops on Job Search, Company Information and Business Research Skills.  See the training schedule to find out what workshops are being offered. Registration is recommended.

RESEARCH TO GO.  Every Monday -Thursday we come to you.  Reference Librarians are available from 12:30 – 1:30 in Huntsman Hall 251.  Drop in and get fast answers to your job search or research questions.8-27-2014 2-49-11 PM

TEXT BOOKS.  Available for many Wharton courses at the Lippincott Reserve Desk.  Most can be checked out for three hours and used in the Library.

 

SUBJECT/COURSE GUIDES.  Subject Specialist have prepared Guides by subject area or course.  Use these to find resources for your projects and assignments.  Contact a Specialist for additional information.

FRANKLIN is the Library Catalog.  Use this to search for books, journals, videos and more.

MARK’S CAFE.  Food.  Drink.  Comfort.

Take advantage of the services available to you.  Hope to see you soon.

 

 

 

 

 

 

 

 

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.

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Top 10 Resources for MBAs

The librarians at the Lippincott Library are excited to have new MBAs on campus. We’ve put together a listing of 10 resources/services available through the library that we think you should know about.
1. Wall Street Journal – The library has full-text access to the newspaper through a number of our subscription databases (just not through WSJ.com). You can browse the latest 2 weeks of the newspaper in Factiva.  Other places to find the Wall Street Journal can be found here.  You can also access The Economist, and other news sources.

docdel00012. Document Delivery – MBAs have access to a special delivery service for articles and book chapters. Send citations of interest to docdel@wharton.upenn.edu and we will scan or download the items you need & send them to you via email. This service was previously only available to faculty and PhDs but we’ve opened it up to MBAs – saving you both the time and headache of searching for the full-text.

Business Databases3. Subscriptions to 100+ business specific databases. Some highlights include databases that cover market and industry reports as well as financial resources used in the industry like Bloomberg, Factset, SDC, and many more.

4. Wharton MBAs have remote access to S&P Capital IQ through MBA Career Management – click on “Students”, then select “Research Tools”. Remote access will become available at the start of the Fall Term. Capital IQ is also available in the Lippincott Library for students with a Wharton login account.

5. Business FAQ – Provides quick reference help on a wide range of questions relating to business research. The FAQ is a knowledge base consisting of 15 broad categories (e.g. “Finance”) and more than 600 specific questions (e.g. “How do I find Info on Venture Capital and Private Equity?“). Take a look at our recent blog post, Just the FAQs, to learn more.

Guides6. Research Guides – Helpful guides put together by subject specialists at the Lippincott Library. The guides cover industries, geographies, and other business topics. Each guide includes links to subscription databases, journals, books, and other helpful resources that relate to the guide’s topic. Research Guides are a good starting point if you are new to a topic or just beginning your research.

4557vitale7. Group Study Rooms – The library has study spaces that you can reserve for groups of 4 to 12 people for up to two hours a day. We hope that when you are not collaborating in 2401 Walnut, you know that you have a place to meet with your group in Lippincott.

Research To Go8. Research To Go is one of the many ways that you can contact the librarians at the Lippincott Library. From 12:30pm to 1:30pm, Monday through Thursday, you can find a librarian in JMHH 251. Drop in for a reference consultation, no appointment is needed. Please feel free to interrupt us!

Bloomberg1019. Financial Database Instruction – Over the course of the school year, the Lippincott Library will be offering a variety of 1-hour classes covering topics like financial databases (Bloomberg & Capital IQ), Entrepreneurial Research, and Business Research Strategies. Database instruction will be hosted in the newest space in Lippincott, the Yablon Financial Resources Lab, when it’s completed at the start of the Fall Semester. A full listing of offerings will be available on the website.

Librarians10. Last but definitely not least, get research assistance from one of Lippincott’s six Business Research Librarians. There are lots of ways to contact us and we hope that you do. We will gladly help you get started with your research and projects!

Visiting Lippincott Library  You can access most of our electronic databases remotely, all you need is your Pennkey ID and password. However, there are some perks to visiting the library.

  • What do textbooks, laptop locks, and headphones all have in common? You can check-out these items from the Lippincott Library Reserve Desk for three hours at a time for use within the library.
  • With your Wharton ID and password you can log into computers that have the same image as the computers in Huntsman Hall. This allows you to do the same work you do in Huntsman, but in the library.
  • Access a number of specialized financial databases like Bloomberg, Capital IQ, Factset, SDC, Datastream, Morningstar Direct and Prowess.
  • Wharton printer – You can print in the library using your Wharton print account.
  • Scanner – Scan documents for free directly to your USB or email.
  • And, of course, in-person research assistance from the Lippincott Librarians. Come visit us at the Reference Desk.

I Heard It through the Grape Vine – Sources for M&A Rumors

Rumors surrounding merger negotiations may cause legal problems for the negotiating parties. Information leaked from negotiations can lead to accusations of fraud or of insider trading. Despite their potential danger, M&A rumors appear daily in hundreds of news sources. The Penn Libraries subscribe to several databases that allow you to track M&A rumors, and to find the details of the deals the rumors represent.

Below is a description of the “rumor mills” of five databases that cover M&A deals.

All of the databases described are updated continually, are international in scope and have lengthy historical files. The databases differ in the way that they handle rumors. Three of the databases (Zephyr, Thomson One, and FactSet) treat rumors as a description of a deal’s status and allow you to screen on this variable. In Zephyr, for example, you can create a set of all deals using “rumor” as the deal’s status, and combine it with variables for geographic location, time period, industry group, and deal type. Bloomberg and S&P Capital IQ, in contrast, handle rumors strictly as a news story event. Both of these databases index a wide variety of news sources for M&A rumors. However, Bloomberg and Cap IQ can’t easily be used to create a customized set of deals combining the concept “rumor” with other variables.

Zephyr is the M&A module of the Bureau van Dijk suite of financial databases. Zephyr categorizes rumors as “current”, “expired,” “updated” and “withdrawn”. Here is the path for finding M&A rumors on Zephyr:

Advanced Search => Rumors => All Rumors => All Current Rumors

Below is a brief spreadsheet report of current M&A rumors from Zephyr. Many additional columns of information relating to the particular deals can be requested although missing data, such as the acquiror name, is a frequent feature of reporting deals based on rumors. Continue reading