Bureau of Census Industry Codes (CIC)
Posted: 25 May 2015 02:21 AM   [ Ignore ]
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Hello,

I am currently working on US data for a project, using Compustat as my primary source for financial information. I have pooled all information needed for my sample from Compustat and I am in need of converting all the Standard industry Classifiaction codes (SIC) of my sample into Bureau of Census Industry Codes (CIC). Hence, my SIC codes cover all companies other than financial institutions (SIC-2 codes 60-69). Is there any crosswalk file or certain method for such industry concordances?


Thank you in advance,
Antonis

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regards,

Antonis Chantziaras

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Posted: 25 May 2015 07:25 AM   [ Ignore ]   [ # 1 ]
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hi Antonis,

Great question—I’ve forwarded it to the Google group; I’ll post any replies here.

Best,

Joost

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Posted: 26 May 2015 04:05 AM   [ Ignore ]   [ # 2 ]
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Dear Joost,

thank you very much for your interest on my post. Some crosswalk files to convert CIC to NAICS (either for 2002, 2007 or 2012 Revisions) can be found here https://www.census.gov/people/io/methodology/ (US Census). However, I cannot find a file linking CIC and SIC. Although SIC is a relatively old classification system (not updated since 1987), it is heavily used in academic research and still reported by companies in theri filings to SEC EDGAR.

Best,
Antonis

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regards,

Antonis Chantziaras

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Posted: 26 May 2015 06:31 AM   [ Ignore ]   [ # 3 ]
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hi Antonis,

How about CIC -> NAICS -> SIC?

It seems Census covers CIC -> NAICS, see this page for NAICS -> SIC: http://www.naics.com/naicswp2014/wp-content/uploads/2014/10/NAICS-to-SIC-Crosswalk.pdf? (unfortunately in pdf format)

Hope this helps,

Joost

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Posted: 26 May 2015 07:12 AM   [ Ignore ]   [ # 4 ]
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Hi Joost,

this is an excelent idea and I am currently work on it. I found a relatively interesting xlsx file from Census, providing historical CIC crosswalk with NAICS (all revisions are available 97, 02, 07, 12). See here https://www.census.gov/people/io/files/IndustryCrosswalk90-00-02-07-12.xls .Hope members of the forum find this helpful in case they face the same problem in the future.

Despite the aforemenioned file facilitates my task a lot, I have concerns on converting NAICS to SIC. There are 3 NAICS revisions the last decated (02-12) and I have to convert each NAIC to SIC accordingly. It was relatively easy from NAICS 2002 to SIC (see here http://www.census.gov/eos/www/naics/concordances/concordances.html?_ga=1.100470238.1982601319.1432547190 ) and from NAICS 2012 to SIC thanks to the pdf file above. Are you aware of any NAICS 2007 to SIC concordance file?

Thanks,
Antonis

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Posted: 26 May 2015 07:22 AM   [ Ignore ]   [ # 5 ]
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hi Antonis,

I haven’t come across this issue before. What may help - somewhat unconventional maybe - is to get a few years of data from Compustat Funda before the 2012 revision (that is, when NAICS 2007 should be used). Take SICH and NAICSH (both historic industry codes available for most firmyears) for each firm, and you should be able to construct an ‘empirical’ mapping from SIC <-> NAICS.

Hope this helps,

Joost

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