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Posted: 07 May 2016 09:18 AM   [ Ignore ]
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Hello,

I have got a question concerning the difference between the databases Compustat North America fundamentals annual and CRSP/Compustat merged.
I need fundamental data of US firms and the annual stock price for each year and each firm.
In Compustat North America fundamentals I can find all the information (capitalexpenditures, assetstotal..etc) and the “price-close-annual-calendar”.
So what is the use of CRSP/Compustat merged? Do I have to retrieve the data from this database and match it with the stock prices or is it ok to retrieve the data from the Compustat North America fundamentals database?

Thank you for the answer!
Mario

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Posted: 08 May 2016 06:12 AM   [ Ignore ]   [ # 1 ]
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hi Rioma,

You can either match Compustat Funda/Fundq with CRSP MSF/DSF yourself using the linktable, or, you can use the CRSP/Compustat merged table, which as a convenience, has merged both already.

Hope this helps,

Joost

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Posted: 08 May 2016 07:46 AM   [ Ignore ]   [ # 2 ]
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Hi Joost,
thank you for the answer.
But what I wanted to know is the following question: In Compustat North America fundamentals I can find the fundamentals of the firms and the annual stock price (“price close annual calendar”).
So in my opinion I do not have to match the fundamentals with the stock prices because I can find everything in the Compustat North America Fundamental Database.
So I do not understand the need of the Crsp Compustat merged Database. Is it just useful to match fundamentals with for example monthly stock data?; because monthly stock data cannot be found in the Compustat North America fundamentals database.

Thank you for the answer!

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Posted: 08 May 2016 07:51 AM   [ Ignore ]   [ # 3 ]
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aha, ok, yes, if you are fine with the end of year stock price, etc, then there is no need to use CRSP or the merged tables. But, often researchers need a bit more (like measuring return over some period), and then you would need to merge these. It all depends on the variables you need to construct.

Best,

Joost

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Posted: 08 May 2016 11:22 AM   [ Ignore ]   [ # 4 ]
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ok, thank you!

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Posted: 08 May 2016 06:00 PM   [ Ignore ]   [ # 5 ]
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you’re welcome! smile

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Posted: 10 May 2016 05:54 AM   [ Ignore ]   [ # 6 ]
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HI joost,
I have three more questions.
1. For my thesis I need data of public firms listed on the exchanges in the US. When I request the data from Compustat North America fundamentals for example for the period 2010-2015 (“search the entire database”) I get 74408 observations. If I request the same data in the CRSP/Compustat merged database I only get 28400 observations. Why is there a difference?

2. Which kind of data are covered by Compustat North America? Is it also Canadian firms, private firms and firms which issue for example bonds? Or just public firms listed on US exchanges?
3. Wich kind of data are covered by CRSP? Is it just firms listed on US-exchanges?

Thank you for the answer!

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Posted: 11 May 2016 07:59 AM   [ Ignore ]   [ # 7 ]
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hi Mario,

It looks like you have answered your own question; the Compustat pool is indeed wider than CRSP. Two years pre-IPO would also be in Compustat (but not CRSP). I also remember as you point out Canadian firms are in Compustat (but not CRSP). And, firms with more than 500 shareholders or so need to file with the SEC (and end up in Compustat) even though these may be private (I believe Facebook was already filing with the SEC before their IPO).

You can use tables like Compustat Company and CRSP dsenames to drill down differences.

Hope this helps,

Joost

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