i/b/e/s management earnings forecast
Posted: 17 January 2012 11:29 PM   [ Ignore ]
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Joost and everyone here,

some paper referred that ibes and first call merged their company earning guidance data. however, i didn’t find such dataset from my WRDs ibes dataset list.
http://www.kellogg.northwestern.edu/accounting/papers/Acito2 .pdf

can anybody here tell me what is the dataset name for company earning guidance file from IBES?

Maybe my college didn’t buy it (so i can not see it)...

Thank you very much!

Zenghui

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Posted: 18 January 2012 12:32 PM   [ Ignore ]   [ # 1 ]
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hi Zenghui,

I am not sure if you mean analyst earnings expectations, or management earnings forecasts/guidance.

There is an announcement on WRDS relating to analyst earnings forecasts:

http://wrds-web.wharton.upenn.edu/wrds/news/index.cfm?method=read&news_id=285

First Call to be discontinued (Monday, December 5, 2011)Thomson Reuters’ First Call Historical Database (FCHD) will no longer be offered beginning 2/29/2012.  Thomson Reuters’ IBES estimates will be the new historical strategic content set moving forward.

Management earnings guidance is included in ‘Company Issued Guidance’, which is part of First Call (/wrds/firstcall/sasdata)
http://wrds-web.wharton.upenn.edu/wrds/tools/variable.cfm?library_id=31

Hope this helps,

Joost

 

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Posted: 18 January 2012 01:22 PM   [ Ignore ]   [ # 2 ]
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Joost,

Thanks a lot for the information.

What i mean is the management earnings guidance.

I noticed that first call is going to be discontinued on 2/19/2012 too, which is really close now.

So i wish to find out what is the new dataset from IBES, which will cover the same content as CIG. So far i didn’t find out yet. That is my question. Maybe i didn’t make it clear.

Do you know such dataset from IBES by any chance?

Cheers,
Zenghui

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Posted: 18 January 2012 01:35 PM   [ Ignore ]   [ # 3 ]
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hi Zenghui,

From the same item:
http://wrds-web.wharton.upenn.edu/wrds/news/index.cfm?method=read&news_id=285

Guidance, which was previously included in FCHD, will now be offered as a separate FTP feed directly from Thomson Reuters’ to each university.

I guess downloading the First Call directory before end of February will give you plenty of time to see how this turns out.. smile

best regards,

Joost

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Posted: 21 February 2012 07:40 AM   [ Ignore ]   [ # 4 ]
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There is an announcement on WRDS relating to analyst earnings forecasts.

Quality management system

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Posted: 21 February 2012 08:29 AM   [ Ignore ]   [ # 5 ]
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hi Robert,

Do you mean:
http://wrds-web.wharton.upenn.edu/wrds/news/index.cfm?method=read&news_id=285

First Call to be discontinued (Monday, December 5, 2011)Thomson Reuters’ First Call Historical Database (FCHD) will no longer be offered beginning 2/29/2012.  Thomson Reuters’ IBES estimates will be the new historical strategic content set moving forward.  Thomson Reuters’ sales representatives are currently reaching out to FCHD end users and assisting them in their migration to IBES estimates.  Guidance, which was previously included in FCHD, will now be offered as a separate FTP feed directly from Thomson Reuters’ to each university.  If you have any questions or concerns, please contact your Thomson Reuters sales representative, or .(JavaScript must be enabled to view this email address).

Or are you referring to another announcement?

best regards,

Joost

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Posted: 15 March 2012 05:28 AM   [ Ignore ]   [ # 6 ]
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Hi Joost, Zenghui,

I actually have exactly the same problem. I just started looking for data of management forecast for a paper and realized that First Call got merged to IBES - I’m bit confused if Thomson Reuters’ merged everything from First Call (including management forecasts) to IBES or they just merged the analyst forecasts (not sure if First Call ever had that, since I just started working in empircal research…).

Do you happen to have better knowledge about this? And if the management forecasts got merged over to IBES - anyone knows under which specific database? I were only able to find analyst estimates at a first glance…

Many Thanks.

Best regards,
Li

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Posted: 15 March 2012 01:03 PM   [ Ignore ]   [ # 7 ]
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hi Li,

As I understand the post on WRDS (as mentioned above) is that if you want to have management guidance (Company Issued Guidance, CIG) you will need to buy that from Thomson directly (not through WRDS).

Many researchers downloaded CIG recently, so they are good for a few years…

Yes, First Call had analyst earnings forecasts, but less extensive coverage than IBES. I am not sure what is happening with the analyst earnings forecasts. If First Call analysts were also included in IBES, nothing will change for IBES. But, if there are some ‘new’ analysts that are now included in IBES, then the number of analysts following, analyst precision, etc will increase (that is, a “structural break”).

In short, I don’t know exactly. But, if you want to use analyst forecasts, IBES is the way to go (and CIG will still be the source for management guidance, although it won’t be available through WRDS).

best regards,

Joost

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Posted: 23 March 2012 12:34 PM   [ Ignore ]   [ # 8 ]
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Hi Joost,

many thanks for your hints… Sigh, just realized I’d need management forecasts for my paper in Feb and started to look for suitable database, ending up with reading that message on WRDS… hmmm Anyway, still many thanks! I guess I’d have to start to bug my befriended Ph.D. students in other schools to see if they happened to have downloaded the whole CIG before February…

Best regards,
Li

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Posted: 23 March 2012 01:10 PM   [ Ignore ]   [ # 9 ]
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hi Li,

Good luck! If your school was paying for CIG, I would pretty much expect you will have colleagues that have downloaded it.

best regards,

Joost

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Posted: 25 April 2014 03:07 PM   [ Ignore ]   [ # 10 ]
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Zenghui - 17 January 2012 11:29 PM

Joost and everyone here,

some paper referred that ibes and first call merged their company earning guidance data. however, i didn’t find such dataset from my WRDs ibes dataset list.
http://www.kellogg.northwestern.edu/accounting/papers/Acito2 .pdf

can anybody here tell me what is the dataset name for company earning guidance file from IBES?

Maybe my college didn’t buy it (so i can not see it)...

Thank you very much!

Zenghui

 

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Posted: 19 May 2014 07:36 PM   [ Ignore ]   [ # 11 ]
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hi,

I haven’t used this data, but it looks like it is the datasets in “IBES:GUIDANCE [ /wrds/ibes/sasdata/guidance ]” on this page: http://wrds-web.wharton.upenn.edu/wrds/tools/variable.cfm?library_id=40

best regards,

Joost

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Posted: 25 June 2015 11:44 AM   [ Ignore ]   [ # 12 ]
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hi all,

just an update… (as of May 19th, 2014)

http://www.whartonwrds.com/2014/05/19/thomson-reuters-ibes-guidance-data-now-available-through-wrds/

Wharton Research Data Services (WRDS) is pleased to announce the addition of Thomson Reuters I/B/E/S Guidance data.
Company Expectations, I/B/E/S Estimates and WRDS Side-By-Side − a Powerful Combination
Thomas Reuters I/B/E/S Guidance allows academic clients to directly compare analyst and management expectations on company performance, safe in the knowledge that they are using the same accounting basis for consistent analysis.
Guidance provides the user with comments directly from management about future expectations. Complementing the I/B/E/S Guidance data, Earnings Estimates is used by every financial professional for Earnings Data covering over 5800+ US Companies, 12,400 International Companies, with history dating back to 1976.
A Global Database with over 8,200 companies in 50 countries and history back to 1994, academics utilize the I/B/E/S Estimates and I/B/E/S Guidance together to form hypothesis in different directions—resulting in conclusions that illustrate the strength of the product set.
GET CLEAR DIRECTION
Market-moving data – Feed the same information into your quantitative models that the investment community is seeing and acting upon
Enhanced methodology – Each update includes a derived field indicating whether the guidance meets, beats, or falls short of the mean, providing a valuable signal for quant models
Analyze – View historical guidance trends versus reported results using I/B/E/S Actuals
Measure – Track the influence of company guidance on market sentiment
WHO USES I/B/E/S GUIDANCE?
Some of the world’s top universities – Concordia University, Queensland University of Technology, Stanford University, University of California at Riverside, University of Missouri at Columbia, University of Pittsburgh, and University of Texas at Arlington
• Academic Researchers   • Private Equity Firms   • Traders   • Government Agencies   • Investment Bankers     • Consultants and Advisors   • Investment Managers   • Research Analysts   • Hedge Funds

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Posted: 04 September 2015 12:33 AM   [ Ignore ]   [ # 13 ]
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Hi all,

I noticed not a lot of universities have access to IBES Guidance. Do you know any similar database where I can get data about management forecast?

Thanks!

Claire

heavymattd - 25 June 2015 11:44 AM

hi all,

just an update… (as of May 19th, 2014)

http://www.whartonwrds.com/2014/05/19/thomson-reuters-ibes-guidance-data-now-available-through-wrds/

Wharton Research Data Services (WRDS) is pleased to announce the addition of Thomson Reuters I/B/E/S Guidance data.
Company Expectations, I/B/E/S Estimates and WRDS Side-By-Side − a Powerful Combination
Thomas Reuters I/B/E/S Guidance allows academic clients to directly compare analyst and management expectations on company performance, safe in the knowledge that they are using the same accounting basis for consistent analysis.
Guidance provides the user with comments directly from management about future expectations. Complementing the I/B/E/S Guidance data, Earnings Estimates is used by every financial professional for Earnings Data covering over 5800+ US Companies, 12,400 International Companies, with history dating back to 1976.
A Global Database with over 8,200 companies in 50 countries and history back to 1994, academics utilize the I/B/E/S Estimates and I/B/E/S Guidance together to form hypothesis in different directions—resulting in conclusions that illustrate the strength of the product set.
GET CLEAR DIRECTION
Market-moving data – Feed the same information into your quantitative models that the investment community is seeing and acting upon
Enhanced methodology – Each update includes a derived field indicating whether the guidance meets, beats, or falls short of the mean, providing a valuable signal for quant models
Analyze – View historical guidance trends versus reported results using I/B/E/S Actuals
Measure – Track the influence of company guidance on market sentiment
WHO USES I/B/E/S GUIDANCE?
Some of the world’s top universities – Concordia University, Queensland University of Technology, Stanford University, University of California at Riverside, University of Missouri at Columbia, University of Pittsburgh, and University of Texas at Arlington
• Academic Researchers   • Private Equity Firms   • Traders   • Government Agencies   • Investment Bankers     • Consultants and Advisors   • Investment Managers   • Research Analysts   • Hedge Funds

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Posted: 04 September 2015 07:15 AM   [ Ignore ]   [ # 14 ]
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hi Claire,

IBES Guidance is a continuation of the ‘old’ CIG (Company Issued Guidance) dataset. I don’t know of alternatives for large scale studies. An alternative is to construct your own sample by searching Factiva/Lexis Nexis; or find a co-author with access.

Best,

Joost

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