US company data on WRDS

WRDS (Wharton Research Data Services) is used by researchers worldwide to get financial and accounting data, especially on US companies. WRDS gives access to the respected CRSP and Compustat NA (North America) databases. It also provides a web interface to make it as easy as possible for researchers to download the data they require. and there is help available from other researchers. See About WRDS for more detail.

Example screencast videos of getting data using WRDS:

• http://screencast.com/t/DuQmA4j7Id - Monthly returns from CRSP
• http://screencast.com/t/BpijU5FIY6x - Fama French factors
• http://screencast.com/t/2vt8uRiF - long-term debt from Compustat NA Fundamentals Quarterly
• http://screencast.com/t/cr9p3Nv1 - S&P domestic long-term issues credit rating from Compustat NA  Ratings

Note: The University of Manchester does not subscribe to all the databases available through WRDS -See  FAQ answer on WRDS subscription.

Earlier WRDS post (March 2011) – for full list of WRDS-related post use the tag cloud on the right-hand side.

There is lots of help available when using WRDS: try the “e-learning” and “support” tabs.

Apple users have reported problems with .xls result files. An alternative is to select the .csv (comma separated variables) format. This can be easily imported into Excel. You don’t get the nice .xls formatting but the data is the same.

WRDS – Wharton Research Data Services

WRDS is regarded as the premier financial research database at business schools worldwide. Strictly, WRDS is not a database itself but a web-based research service. The University of Manchester subscribes to databases (CRSP, Compustat, IBES, etc. ) from their providers, and also to access using WRDS because of the convenience this offers. Several key factors contribute to its popularity:

• Convenient web-based access for databases through WRDS
  CCM (CRSP Compustat Merged) example
• Web-based queries follow the same style for all the databases making WRDS easier to learn.
• Access to CRSP and Compustat, the top-rated databases for financial research on the US market
• Service designed by researchers for researchers: online documentation, able to cope with large volumes of data, and online support.

In general, WRDS is the first choice for most researchers so long as it has the data they need. Thomson Reuters Datastream is our most-used database for UK and Worldwide financial market research, where WRDS is heavily US-centric.

The Databaser blog has a good range of tips on using WRDS – For example

• Ratios, values and other instruments from the balance sheet – Compustat

Note that the University of Manchester WRDS subscription does not include Compustat Global.

Manchester Business Answers 24/7 – WRDS-related questions

Note: WRDS is accessed through either an individual or class username and password, to ensure that you have agreed to the WRDS terms and conditions before using the system.  See FAQ answer: How do I get access to Wharton Research Data Services(WRDS)?

Company Credit Ratings

Obtaining company credit ratings can be difficult. The credit ratings agencies traditionally rate the specific bonds, or other debt instuments, of a company rather than the company overall. In some situations this information is combined to give an overall company credit rating.

Where can I find bond credit ratings for a particular company?

For North American companies, there is a Compustat Monthly Updates – Ratings query on WRDS that gives the S&P Domestic Long Term Issuer Credit Rating (SPLTICRM).

Video demo of getting SPLTICRM for S&P 500 http://screencast.com/t/Z2i4CByn7 (using a list of gvkeys for the S&P 500 constituent list for Dec 2010)

Bloomberg’s function CRPR (Company Credit Ratings) gives ratings (where available) from Moodys, Standard and Poors and Fitch.

See also post http://finabase.blogspot.com/2010/02/databases-offering-debtcredit-ratings.html which describes tips from Vrije Universiteit.

WRDS website and access

WRDS (Wharton Research Data Service) is not really a database itself. It is a system designed to give researchers access to a range of financial databases (CRSP, Compustat, CCM, Compustat Execucomp) though a common interface, and with integrated support.

WRDS recently produced a new web site, so at the moment some data is available from both the new, improved web interface, and the older classic one.

Access to WRDS is via a username and password. MSc students can use a “class account” – email bids@mbs.ac.uk for login details. PhD students and academic staff can apply for their own username and password (this provides extra capabilities for running SAS programs on the WRDS system.)

WRDS related questions on Manchester Business Answers 24/7