Negative Price in the CRSP database
Posted: 23 September 2012 02:18 PM   [ Ignore ]
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Question: Negative prices in CRSP for stock prices?

Answer:  Prc is the closing price or the negative bid/ask average for a trading
day. If the closing price is not available on any given trading day, the
number in the price field has a negative sign to indicate that it is a
bid/ask average and not an actual closing price. Please note that in this
field the negative sign is a symbol and that the value of the bid/ask
average is not negative.

If neither closing price nor bid/ask average is available on a date, prc
is set to zero. In a monthly database, prc is the price on the last
trading date of the month. The price series begins the first month-end
after the security begins trading and ends the last complete month of
trading.

If the security of a company is included in the Composite Pricing network,
the closing price while listed on NYSE or AMEX on a trading date is the
last trading price for that day on the exchange that the security last
traded.

For more information, click on Price in the CRSP Monthly or Daily stock
files.

Reference:
http://faq.econlib.princeton.edu/recordDetail?id=13428&action;=&library=princeton_economics&institution=princeton

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