US based companies only
Posted: 07 November 2013 08:39 AM   [ Ignore ]
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Hi Joost,

How are you?

I need a help from you.

I am using SEC filings that I have downloaded through FTP from sec.gov. I am looking at a specific industry which I do, by reading the file and extracting the SIC info. I have extracted the files of a particular industry through perl. SO far so good. How do I know If a particular company is a US company or not? As I do not want my sample to have international firms. US firms and US MNCs is what I am interested. Do you know how or where I can find this information in the filings or otherwise? (SIC code includes all companies I suppose)

Further more ,(second question), how do I make sure the companies are US companies through database. I am currently using Thomson one to retrieve companies from various database and a search based on SIC gives US and non US companies even if I select country USA?

It would be really helpful if you could answer my questions. Thanks a bunch as always.

novice

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Posted: 08 November 2013 04:29 PM   [ Ignore ]   [ # 1 ]
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hi Uma,

I am not aware of a way to determine this based on the SEC filings.

I can think of 2 ways using Compustat:
- foreign firms have “-ADR” in the company name (field conm) (ADR: American Depository Receipt; crosslisted non-US firms)
- variable FIC (Current ISO Country Code - Incorporation) in Company (http://wrds-web.wharton.upenn.edu/wrds/tools/variable.cfm?library_id=129&file_id=65822)

Could you please update this thread if you find other ways?

Thanks,

Joost

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Posted: 02 March 2016 06:25 PM   [ Ignore ]   [ # 2 ]
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Identifying non-U.S. companies depends on how you define “non-U.S.” The SEC’s classification (foreign private issuer or “FPI”) does not necessarily track the ISO country code. Here’s an excerpt from the SEC’s discussion:

“There are two tests to determine whether a foreign company qualifies as a foreign private issuer: the first relates to the relative degree of its U.S. share ownership, and the second relates to the level of its U.S. business contacts. Foreign private issuer status is not determined solely by the country in which a company is organized. Companies organized under the laws of a foreign country that have certain characteristics that make them substantially similar to U.S. companies will not be considered foreign private issuers. In contrast, a company that is incorporated in a state, territory, or possession of the United States can never qualify as a foreign private issuer, regardless of the location of its shareholders, assets, or management.”

Note: All companies with a U.S. ISO code are not FPIs. But not all companies with a foreign ISO are FPIs.

More at https://www.sec.gov/divisions/corpfin/internatl/foreign-private-issuers-overview.shtml#II.

On the other hand, if you define “non-U.S.” as headquartered outside the U.S., address information is easily accessible at the top of the filing in the address of the principal executive offices (e.g., Toyota’s Form 6-K: https://www.sec.gov/Archives/edgar/data/1094517/000119312516489040/d145608d6k.htm).

Finally, you can definitely include in the FPI category any firm that files a Form 20-F or Form 6-K. Only FPIs file these forms. You cannot, however, say that all firms that file Forms 10-K are not FPIs because FPIs can elect to file the 10-K instead of the 20-F.

 

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