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What is the difference between company’s primary ticker and ticker? 
Posted: 20 December 2012 07:50 AM   [ Ignore ]   [ # 16 ]
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What is the difference between a ticker symbol and a primary ticker symbol?
Thomson One banker provides both for companies in the UK.

  4 months ago
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Jerry Jerry
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A company may have more than one listed security. For example, ordinary shares and preferred shares. Each security would have its own unique ticker symbol. In both cases, the ordinary share ticker would be the primary ticker.

  4 months ago

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Posted: 20 December 2012 09:49 AM   [ Ignore ]   [ # 17 ]
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hi Adam,

Given the explanation that you included in your post, I would say that usually the ‘primary’ ticker points out which ticker to use if a firm has different classes of shares being traded.

For example, class A shares may be the common (or ordinary) shares, and class B may be preferred voting shares. The ‘regular’ stock price and returns would be based on the common shares. The primary ticker points out which of the ticker symbol would be the primary, or normal, ticker symbol. (You probably don’t want to have multiple stock returns for a single firm for a given period.)

You can make sure by looking at a firm in more detail (a firm with multiple tickers). Download their trading volume and compare. Trading volume will be higher for the common shares (the ‘primary’ shares).

Hope this helps,

Joost

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Posted: 05 March 2014 10:50 AM   [ Ignore ]   [ # 18 ]
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Joost,

What will be the .E format?

I try to use linkddt = ‘E’ and SAS will report a bunch of errors.

Thanks,
Zenghui

Joost Impink - 25 October 2012 03:20 PM

hi pwyw000,

Good point, yes, I have local downloads of these files.

In fact, my ‘ccm’ is slightly modified from the original. I am posting the code below. (It replaces the ‘missings’ for end date with a future date, this simplifies further usage. See in previous post how the date is required to be between LINKDT and LINKENDDT. If LINKENDDT would be missing - as it is in the ‘original ccm’, it requires more (hard to read) code).

best,

Joost

rsubmit;
libname crsp '/wrds/crsp/sasdata/a_ccm';
   

PROC SQL;
  
create table ccm as
  
select a.*
  
from crsp.ccmxpf_linktable a
   where  a
.lpermno ne .
 and 
a.linktype in ("LC" "LN" "LU" "LX" "LD" "LS")
  ;
  
quit;
 
proc download data=ccm out=matching.ccm_temp;
 
run;
endrsubmit;
 


data matching.ccm;
set matching.ccm_temp;
reset .E to some future date;
if 
LINKENDDT eq .E then LINKENDDT mdy(1,1,2020);

just in case some LINKDT are set to .B;
if 
LINKDT eq .B then LINKDT mdy(1,1,1960);
run;


proc datasets library=matching;
   
delete ccm_temp;
run
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Zenghui
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Posted: 05 March 2014 01:44 PM   [ Ignore ]   [ # 19 ]
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hi Zenghui,

The ‘general’ missing value in SAS is a period (.). SAS supports several ‘flavors’ of the missing values where .E is one of them. You need to match it as .E and not quote it.

best regards,

Joost

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Posted: 05 March 2014 03:00 PM   [ Ignore ]   [ # 20 ]
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thanks a lot!

I didn’t know that…

smile

Joost Impink - 05 March 2014 01:44 PM

hi Zenghui,

The ‘general’ missing value in SAS is a period (.). SAS supports several ‘flavors’ of the missing values where .E is one of them. You need to match it as .E and not quote it.

best regards,

Joost

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Zenghui
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Posted: 25 March 2014 11:09 PM   [ Ignore ]   [ # 21 ]
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Hello Joost,

Can I ask a question? In the code, you use crsp.dsenames instaed of crsp.stocknames。What is the main difference between the two datasets of stock names? I only know that the desnames is the daily stock names and stocknames is company name. What is the advantage of using crsp.dsestocknames when merging SDC data with CRSP? Thank you very much!!!

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Posted: 26 March 2014 08:56 AM   [ Ignore ]   [ # 22 ]
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hi,

I am not sure what the exact difference between both tables is (dsenames has some more variables, and more records). When replacing dsenames with stocknames, does it matter (#matches, etc)?

In any event, I will send a message to the Google Group I recently created.

best regards,

Joost

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Posted: 23 April 2014 06:26 PM   [ Ignore ]   [ # 23 ]
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As posted by Ahmet in the Google Group: https://groups.google.com/forum/#!topic/wrdssas/Xarg0y1TDJc

I guess, crsp.dsenames includes trading symbol history (and SIC code history)
for example permno 10000 has 3 historic trading symbol. (3 obs in crsp.dsenames but 1 obs in crsp.stocknames) (see permno 10003 for SIC code change example)

I guess they both include name, ticker, exchange code changes.

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