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Dissertation Research

19 October 2017 1 comment

When seeking to complete a dissertation in the area of Accounting & Finance, a key consideration is ‘Research Feasibility’. This can be summarised by the statement:

 

Can I obtain the data I require, in a timely manner, to successfully complete my research?

 

A typical one year MSc course would allocate 3 months at the end, to complete the disseration. The gathering of company financial quantitative data, (from sources such as: Thomson Reuters Datastream, S&P Capital IQ, Bloomberg Professional, Compustat via WRDS: Wharton Research Data Service) is fundamental to the success of the research.

 

What can go wrong?

 

  1. Data is not available:  It is not contained within the databases the university subscribes to. The years required are not covered. The student is off-campus and the data is only accessible on-campus (as is the case for Datastream and Bloomberg Professional).
  2. Research Proposal:  This may be too ambitious. For example, a student reads an accounting/finance journal article and decides to try to replicate all or part of the research contained within the article. This can be problematic, as the academic probably spent two or more years completing the research – greater than the time available for an MSc dissertation.
  3. Topic:  The choice of topic can be influenced by a desire to work in a particular area of finance. Unfortunately, this may lead to the key difficulty when conducting research – Data is Not Available.

Data is the foundation on which any analysis is based. Where this is difficult to obtain, time pressures may result, leading to the possibility of failure to submit the dissertation on time.

Whilst it could be argued that the difficulties experienced by students in working on their dissertation are part of the research process, as a Librarian, my approach is different: how can I be most helpful, in assisting the student to successfully complete their research?

 

Helpful Suggestions

 

  1. Pilot Project: Essentially this means establishing the best source – there could be more than one available. Also, how to search the source productively. Also, whether all the years of data required are covered.
  2. Seek Guidance:  This follows directly from point one above. It may be that the most efficient method (shortest time to collect what is required) is not known to the student. Guidance from a Librarian can demonstrate the best source and search method, drawing on years of experience in supporting student dissertation research.
  3. Explore Resources:  With so many sources available to students, the difficulty is often one of familiarity – knowing which databases are available and how they can be accessed. A Library web site is a good place to start. The example below is the subject guide for ‘Business and Management’, at the University of Manchester.

 

Database Guide

Business & Management Guide

 

One of the sections is  for ‘Specialist financial databases’. These are useful for dissertation research:

 

Financial Databases

Specialist Databases

 

Summary

 

Making the best use of resources by seeking guidance from Librarians and planning ahead (pilot study) can help to ensure a dissertation is successfully completed. The key factor being, the ability to secure data, on which to base any analysis.

 

Previous related post, in the Library Research Plus blog:

Research Feasibility [18 February 2015]

 

 

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Company Screening in ‘Capital IQ’

A request for information from an academic (or student) can appear straightforward, but may be challenging, when all the resources available are not known, or fully understood.

Consequently, on receiving a request for a list of Chinese companies, in particular industries/sectors, with an employee count of between 100 and 500, a number of potential options present themselves. Namely, Thomson ONE.com, Bloomberg Professional and Capital IQ. With the primary emphasis on publicly quoted companies for the first two databases, that leaves Capital IQ, which also covers private companies.

 

Clear Navigation

 

The drop down menus across the top of the search screen reveal options quickly and simply. The option for searching – or screening – companies, to create a list according to the criteria specified, can be accessed by hovering over ‘Screening’, towards the top left.

 

Company Searching

Capital IQ – Company Screening

 

Criteria Selections

 

Once ‘Screening – Companies’ is selected, a number of standard options are presented, within ‘Most Used’ and ‘Company Details’. Certain options would appear to cover broadly similar areas. For example, ‘Geographical Locations’ and ‘Country of Incorporation’. Also ‘Industry Classifications’ and ‘Business Descriptions’. These options can be inserted into separate searches to obtain different results, to gauge which most closely matches the requirements of a research project.

Geographical Locations.

 

Location Searching

Screening: Geographical Locations

 

Searching for the country required: in this case ‘China’, then select from the options presented and click on ‘Add Criteria’, to begin the search process. This produces 375,994 results.

 

Country Search and Select (China)

 

Next, Business Descriptions:  search for ‘Engineering’, then click on ‘Add Criteria’.

 

Engineering

Business Description (Engineering)

 

This greatly reduces the number of results as both criteria have to be true (the ADD operator in Boolean searching), giving 5,889 companies.

 

Country and Industry

Results (China and Engineering)

 

Where a required data item does not appear within the standard list, it is possible to search for possible alternatives. In this case, employees. Type ‘Employees’ in the search box, hover over the required selection (‘Total Employees’) and then move along the line to select ‘Open Criterion’.

 

 

Search for Employees

Employee Search

 

The specific details can then be entered. That is, a range of between 100 and 500 employees working for companies, in the Last Quarter. Click on ‘Add Criteria’ to search.

 

Number of Employees

Employee Search

 

This shows 42 results.

 

42 Companies

Results (42)

 

Results

 

The culmination of Geographic Locations (China), Business Descriptions (Engineering) and Total Employees (100 to 500) combine to give 42 results – companies.

 

List of Companies

Results List

 

Click on the ‘View Results’ button to list the companies. Clicking on the company name provides additional details. For export, click on the ‘Excel’ button and ‘Go’.

 

List to Excel

Export to Excel

 

The Excel export option is straightforward, providing tabs for search results (Screening).

 

Results screen in Excel

Excel – Screening tab

 

The criteria for the search are set out in the ‘Screen Criteria’ tab.

 

Search Criteria (Excel)

Excel – Screen Criteria

 

Summary

 

The Capital IQ Screening feature is easy to use and flexible. In terms of results, these are quick to display on screen or alternatively export to Excel.

 

Related posts for Company Screening include:

Advanced Company Screening in Bloomberg Professional   [31 March 2017]

Top 10 Companies   [16 December 2016]

 

S&P Capital IQ, Bloomberg Professional and Thomson ONE.com databases are available for use by current students and staff of The University of Manchester.

Advanced Company Screening in Bloomberg Professional

Students often enquire about creating a list of companies in a particular area…sector of the economy, or industry.

 

Equity Screening

 

The Equity Screening function [EQS <GO>] in Bloomberg is an obvious starting point. This allows a number of criteria to be specified, to build a search, step by step.

 

When ‘Country of Domicile’ is selected, the expanding menus on the left hand side of the screen give a breakdown from geographical regions to individual countries. However, it is actually faster to type in the country name in the search field, in this case, ‘United States’.

Click ‘Update’. This gives 12,455 companies.

 

Repeat for ‘Sectors’. Here, the expanding menus can come in useful, as you may be uncertain of the category names to enable a keyword search. A recent student enquiry requested US ‘Medical Equipment’ companies. This was located by expanding the options, starting with ‘Health Care’ – and then selected. Click ‘Update’ to incorporate ‘Medical Equipment’ into the search. This gives 202 companies.

 

Results

EQS Results Summary

 

Click on ‘See Results’ to list the companies:

 

List

EQS Company List

 

Whilst there is an icon at the top right of the screen to Export the results to another application, it can be more effective to save the list of companies through the ‘Actions – Save’  drop down menu. Enter a file name (‘US Medical Device Companies’ specified here), press the Enter/GO key to activate the ‘1) Save’ button, and then click on ‘1) Save’.

 

Save

EQS: Actions – Save

 

Excel Add-In

 

To gain access to the results from the EQS search, for additional research, the Excel Add-In interface for Bloomberg provides a number of dedicated search options. The ‘Import Data’ feature is particularly useful. This gives a number of Wizard-type options, with standard screens allowing search selections to be entered. For example:

Import Data  –  Real-Time/Historical  >  Historical End of Day

 

Step 1: Create a List of Securities.

 

Import Data

Import Data search screen.

 

The ‘Select securities’ section allows the source to be specified from a drop menu of options. This includes Indices and EQS – Equity Screening. Once EQS is selected, the field below (Saved Screens) gives access to file names saved – in this case ‘US Medical Device Companies’ – normally at the bottom of the list. This loads the full list of companies to the ‘Available securities’ window. From here, the complete list can be selected (‘Add all’) and copied into the ‘Selected securities’ window, or a subset, then ‘Add’ – as is the case in the screen shot below.

 

List

Step 1: Security List

 

Click on the ‘Next’ button to proceed:

 

Step 2: Create List of Fields.

Whilst there are a series of expanding menus [New Fields, Analysis, Corporate Actions, Descriptive, Earnings Estimates, Fundamentals, Market Activity, Ratings] to reveal the data items available, it is actually more effective to search by keyword(s). To illustrate, ’employees’ has been used as a search term, to locate the ‘Number of Employees’ field. Once selected, a definition is provided below. Click ‘Add’ to copy into the ‘Selected fields’ window.

 

Field

Step 2: Field Selection

 

Click ‘Next’, for Date and Frequency options: Yearly, back to 2010 specified.

 

Step 3: Select Perodicity and Time Frame.

 

Dates

Step 3: Dates / Frequency

 

The next two steps (Currency, Pricing Defaults) are not relevant to this search, so click ‘Next’ to proceed to

Step 6: Layout Options.

 

Layout

Layout Options

 

Click on ‘Finish’ to display results – it may be necessary to widen columns.

 

Results

Results in Excel

 

Although a simple example, this could include many additional data items for each company, for which Excel is well suited.

 

Bloomberg Professional is available to current students and staff of The University of Manchester.

Comparing Company Share Price Performance

Datastream is useful to be able to search for multiple companies (Series) and datatypes, in terms of quantitative data.

For example, Tesco PLC, J Sainsbury PLC and Marks & Spencer Group PLC are UK supermaket groups, each within the FTSE100 Price Index. One measure of company performance is Share Price. This quantitative data can be represented in chart form.

 

Search Procedure

 

Data Category is the starting point. For company related data, this would be ‘Equities’.

For Analysis, this would be ‘Time Series Data’.

The Series can be identified by using the Navigator function, activated by clicking on the ‘Find Series’ button. The code displayed in the Navigator search, when selected, gets copied into the search screen. For example, TSCO for Tesco PLC.

The Datatype, for Share Price, searchable via the Navigator (Datatypes button) is ‘Price (Adjusted – Default)’, represented by the code: ‘P’.

Time Period can be selected from set date ranges, such as ‘-10Y’, which represents the last 10 years. Alternatively, a specific date range can be entered by clicking on the ‘Time Period’ button, giving the option to enter a Start and End date using the format:  DD/MM/YYYY.

The frequency of data can be selected by clicking on the Settings button. This allows choices of ‘Daily, Weekly, Monthly, Quarterly and Yearly’, with a default of ‘Daily’. Daily is normally used for Share Price data.

Finally, click on the Run Now! button to execute the search.

The results of this search for Tesco PLC Share Price data, in Datastream 5.1, gives the following output:

 

Datastream Search.

Datastream 5.1 Search

 

It is then possible to add this data into a chart view, by selecting Multiple Series/Flexible Chart, then Comparison Line Chart then Rebased.

By clicking on the plus [ + ] symbol, the Series is copied into the chart summary box on the left of the screen.

Go back to ‘Time Series Data’ Analysis option, run the search for the next company’s Share Price and repeat the process, to include all those required in the chart summary box:

 

Analysis - Charts

Datastream – Analysis: Comparison Line Chart (Rebased)

 

Execute the search by clicking on the ‘Run Now!‘ button at the top right of the screen.

 

Rebased Chart

Datastream: Comparison Line Chart (Rebased)

 

By virtue of specifying ‘Rebased’, this represents the different series as an index, beginning at 100. This allows a relative view of performance. Hence, a movement from 100 to 95 represents a 5 per cent decrease in the share price of a company. All three companies are showing a value of about 40 (as at 24/3/2017), indicating they have lost approximately 60 per cent of their value, as expressed by Share Price, over the last 10 years.

 

Price Index Comparison

 

By comparing a number of companies within a particular Price Index, it is possible to get an appreciation of how the companies have performed relative to the whole index. Tesco PLC, J Sainsbury PLC and Marks & Spencer Group PLC are all part of the FTSE100 Price Index.

Using the Analysis option ‘Comparison Line Chart – Rebased to First’ gives a scale relating to the first series (FTSE100). To do this, run a search for the FTSE100 data first and subsequently the companies also part of the index. Changes to the search above include:

Data Category: ‘Equity Indices’, Datatype: ‘Price Index’ and run the search for data.

Next, change back to the settings for Companies (Data Category: Equities, Datatype: Price (Adjusted Default), run the searches for data and add to the chart summary box [ + ].

 

Chart summary box.

Datastream: Chart summary box.

 

Next, click on the ‘Run Now’ button to execute the search.

 

Datastream Chart.

Datastream: Price Index vs Companies (Line Chart Rebased to First).

 

This chart gives a clear graphical representation of the relative performance of company Share Prices and the FTSE100 Price Index. The competition from low cost retailers such as Aldi and Lidl is a factor in the poor recent performance of Tesco PLC and J Sainsbury PLC in particular, reflected in the above chart.

 

Datastream is available to current students and staff of The University of Manchester.

 

 

Categories: Business Databases Tags:

Company Financial Statements: Comparisons in Different Databases

Students are often confused when viewing company financial statements (Income Statement, Balance Sheet, Cash Flow Statement) in different databases. The reason being, that the values displayed, for the same company, often don’t match.

 

Commercial vs Educational Emphasis

This confusion is understandable. Surely values for the same company, for the same statement, should be identical? In explaining this apparent anomaly, the primary purpose of specialised financial databases needs to be appreciated. That is, to provide data/information to allow analysis of many types of securities – different classes of assets, such as Equities – or companies.

The key user groups are within business and commerce. However, there is sufficient useful content, to also be of value to educational establishments, and therefore students – but business users have priority.

For example, when seeking to gauge the relative performance of two or more companies, from different countries, with different accounting standards, there is a clear logic in being able to compare on a like-with-like basis. Therefore, when looking at a value in an Income Statement, for example, it would be clear which company had superior performance. To compare companies otherwise, the so-called apples with oranges analogy, lacks transparency and is ineffective.

Hence, the evolution of common methods for calculating accounting values in different databases, to ease comparisons between companies. Bloomberg Professional and Thomson ONE.com databases both reflect this need, but use different terminology. A look at a company example is instructive.

 

Bloomberg Professional – Financial Analysis [FA]

The Income Statement (‘I/S’) for Tesco PLC, a UK supermarket group, is set out below, using the Financial Analysis function, within Bloomberg Professional.

 

Income Statement - Adjusted

Bloomberg – Financial Analysis (Income Statement – Adjusted)

 

Note that the tab towards the top left: ‘Adjusted’, is highlighted in blue. This is the default view, meaning this is how data is normally displayed for financial statements in Bloomberg Professional. Therefore, companies from different countries can be compared on a like-with-like basis, when the same currency is selected (top right of screen). In the example above, this is set to GBP, or Great Britain Pounds.

Another option is also highlighted – the ‘As Reported’ tab. This selection would display values from the company’s official annual report and accounts.

 

Thomson ONE.com – Reuters Fundamentals

 

The Income Statement for Tesco PLC is displayed again, using Thomson ONE.com database: drop down menu selection:

Company Overviews – Fundamentals – Reuters Fundamentals

 

T1 Income Statement

Thomson ONE.com – Income Statement (Standardised)

 

The ‘Report Format’ option on the left, gives the choice of ‘Company Specific’ (official values – annual report and accounts) and ‘Standardised’.  When the ‘Standardised’ view has been selected and ‘Update View’ clicked on,  the drop down menu to choose a common currency become available, thus allowing like-with-like comparisons, between different companies.

 

Conclusions

The ability to quickly search for companies within databases such as Bloomberg Professional or Thomson ONE.com is an effective means to locate company financial statements and take advantage of like-with-like comparisons.

When viewing financial statements within databases, the realisation that a company’s annual report and accounts is the ultimate (official) source, represented by ‘As Reported’ in Bloomberg Professional and ‘Company Specific’ in Thomson ONE.com, can help to avoid confusion for students, in conducting company analysis.

 

Bloomberg Professional and Thomson ONE.com are databases available to current students and staff of The University of Manchester.

Searching for Market Research Content

Locating Market Research content is less straightforward than company financial data – many databases provide this coverage (Thomson ONE.com, Bloomberg Professional, Capital IQ, Fame, Amadeus, Datastream – to see posts which include content on these, scroll down and click on the ‘Tag Cloud’ links on the right hand menu).

However, students often aren’t even aware specific databases exist to provide Market Research content, such as company/industry reports, analyst evaluations and market news.

With a systematic approach, searching in all Market Research databases which may have relevant content, is worthwhile. This is because the way research has been framed (i.e. what it looks at: online sales, but not sales from physical stores, for example) means it may not be an exact match to the enquiry (student assignment: essay or project), but nevertheless can be applied to it in some way, which still proves useful. In essence, many sources provide numerous small pieces of the puzzle, which come together to build a strong argument, to answer the enquiry.

Even if a student does locate a report which exactly matches their enquiry, the notion that a single report or source is sufficient should be dispelled. This would typically be spelt out in assessment criteria or marking scheme, employed by educational establishments. For example, ‘wide background reading’ [suggesting multiple sources]; ‘appropriate examples’ [plural: i.e. not just one large example/case study]; ‘good support and justification’ [material obtained through research provides the foundation from which analysis can be undertaken, to produce a successful piece of work]. It would be more appropriate to view such a report as the starting point – like a plant’s roots beginning to grow and branching out in different directions.

A number of databases are available which can provide useful Market Research content, such as:

Thomson Research (International focus: analyst reports at Company and Industry level).

Mintel (UK focus: with reports, news, analyst insights).

Frost & Sullivan (International focus: market insights, technical insights reports, industry research reports).

Passport (International focus: category briefings, statistics [company/brand market shares]).

Freedonia (International focus: reports – browse by industry [US] / country/region).

Factiva (International newspapers and trade journals [a publication linked to a particular industry – so different to an academic journal]. Can also be useful in providing background coverage for Mergers and Acquisitions deals (a deal is announced, how it progresses over time and finally completion).

Perhaps the best in terms of reports, due to the number and depth of coverage is Thomson Research, which is examined below.

 

Thomson Research

 

Coverage: International market content, providing Analyst Reports at Company and Industry level.

Access: This database is designed to work with the Internet Explorer browser. In addition it is advisable to select Tools (the small cog icon at the top right of the screen) – Compatibility View Settings, then click on the ‘Add’ and ‘Close’ buttons, so all search features work as they should. Note: If other browsers, such as Chrome or Firefox are used, search features will not work as expected.

Searching – Analyst Reports – Company Level.

These reports provide an assessment of the factors affecting companies and industries, which may cover financial performance data, and some or all of the PESTLE (Political, Economic, Social, Technological, Legal and Environmental) factors which could impact on current and future performance. This is perfect for student projects, in that they represent the same process the student is going through. That is, to research relevant content and provide an analysis based on this, to complete their assignment.

This is the default search screen [Research – Full Search]. All search and display options are contained on a single page.

 

Analyst Reports - Search Screen

Analyst Reports – Search Screen

 

Searching Tip #1:  Although there is a dedicated ‘Company’ field, it is often more effective to enter the company name in the ‘Title’ field, which searches within report titles. This is because a company’s official name can be different to that in common usage, meaning if this ‘common usage’ version is entered in the ‘Company’ field, no results are returned. For example, Royal Bank of Scotland, often abbreviated to RBS, has the full name of The Royal Bank of Scotland Group PLC.

Searching Tip #2:  Sort Results by ‘Report Date – Descending’, is preferred, as this will show the most recent reports at the top of the list. This option can be selected from the drop down menu (bottom left of screen).

The other search options are straightforward. For this search: Collection = Investment Research, Report Type = Company, Report Date = Last Year, Title = Tesco PLC, then click on ‘Search’.

This search resulted in 183 reports, which is perhaps too many. Fortunately, it is quite quick to change the search by clicking on the ‘Edit Search’ button. Making use of a phrase (two or more search terms enclosed in quotation marks) in the Text field (i.e. content from the main body of reports) can be very effective. In the modified search, “online sales” have been added in the Text field.

 

Phrase search to refine results.

Phrase search to refine results.

 

This reduced the number of results to 5 reports. Click on ‘Tesco PLC’ report title (highlighted).

 

Results List

Search Results – Reports

 

Click on ‘View’.

 

View report content

View content

 

Click on ‘Submit’ to proceed:

 

Submit request to display report

Submit

 

The full text is then displayed in PDF format. For a large report, the PDF format is helpful, with the option to search for particular terms inside, using the ‘Find’ search box (Control – ‘F’ key), which appears at the top right of the screen.

 

Tesco Analyst Report

Tesco Report

 

The same search principles apply to ‘Industry’ level reports. The obvious difference being that Report Type is now ‘Industry’.

 

Choice of Search Terms

 

The value of being able to think of alternative search terms is that it is then possible to obtain new results. For example, a search which is too general will give many results. For an Industry level search, using just ‘Grocery’ in the Title field produces over 100 reports. By adding the phrase, “Tesco Sales”, in the Text field, this gave one result (‘UK Food Retail: Brexit Impacts Grocery Volumes Negatively’). Using an alternative Title search (UK Grocery) produced 10 reports, which is a reasonable number.

Additionally, alternative search terms can be obtained by looking at a dictionary definition of a particular term or a thesaurus. Sometimes search terms can only be encountered by looking within Market Research reports. For example, when the relative contribution of Internet and physical store sales is considered, certain terminology tends to prevail. So, ‘Online’ rather than Internet, and ‘Bricks and Mortar’, rather than physical stores.

 

Summary

 

Awareness of Market Research databases is a necessary first step to making use of these valuable resources. The databases listed above can provide useful content, to enable effective analysis by students, contributing to a successful piece of work.

 

Related post:  Company and Industry Comparisons   [Date: 10 July 2015].

 

The above databases are available to current students and staff of The University of Manchester.

Categories: Business Databases

Top 10 Companies

16 December 2016 1 comment

A student recently asked the following: ‘how do I get a list of the top 10 companies in the pharmaceuticals area?’.

What ‘top 10’ means, or is meant to mean, is a little fuzzy…could this be ordering by turnover (sales), number of employees, earnings per share or other measure? Upon further questioning, the size of the company, represented by Market Capitalization, was deemed acceptable. In addition to this, the relative position of a specified company (Glaxosmithkline: GSK-LN) was queried.

 

Thomson ONE.com

One possible approach is to search for the specified company and see what options then present themselves. By typing the company name or ticker code (GSK-LN) in the search box at the top left of the screen, it is possible to select the appropriate option from those displayed. This gives a Company Overview screen to start.

 

Company Overview

Thomson ONE.com – Company Overview

 

By selecting the ‘Comparables’ screen, a number of related companies are displayed. To reach this screen, use the drop-down menus at the top of the page:

Company Views – Fundamentals – Comparables

 

GSK Related Companies

Thomson ONE.com – Comparables (GSK)

 

Whilst this gives a list of related entries in the sense that they are pharmaceutical companies, it is not clear if these represent the ‘top 10’. To do so, a measure would have to be targeted, such as Market Capitalization, using the ‘Equity Screener’ feature. This can be reached from:

Screening & Analysis – Companies – Company Screener

By entering ‘Pharmaceuticals’ within the Business Description field and ‘greater than or equal to 5000’ within the Latest Market Cap ($Mil) field [Stock & Earnings Criteria section], then clicking on the ‘Search’ button, this gives 66 results.

 

T1 Screening Search

Thomson ONE.com – Screening & Analysis search

 

Selecting the column title (‘Market Cap’) orders the companies by this field’s values. The Excel icon allows data export.

 

Search screen

Thomson ONE.com – Screening & Analysis

 

The data displayed within Excel:

 

Excel Export

Thomson ONE.com – Company List Exported to Excel

 

Glaxosmithkline appears at number 6 in the results. A particular concern with this list may relate to how precisely ‘Pharmaceuticals’ matches with companies which are so classified. For example, 3M, which appears at number 5 on the list, makes many varied products, and isn’t primarily thought of as a pharmaceutical company. Another alternative is to try features within other databases – for example, Bloomberg Professional.

The first function which suggests itself is ‘Relative Valuation’ (RV), which would seem to provide a similar role to ‘Comparables’ within Thomson ONE.com. Enter the following on the Command Line:

GSK LN  F8/Equity  RV

 

Relative Valuation

Bloomberg Professional – Relative Valuation

 

Another potential choice would be to use the Equity Screening function (EQS). This allows companies to be selected according to the Sectors (or sub-sectors) to which they are assigned. There are a number of other categories which can be used to refine a search, if so desired.

 

Sectors

Bloomberg Professional – EQS – Sectors (Pharmaceuticals)

 

By selecting ‘Pharmaceuticals’, then ‘Update’, the number of results are shown. In this case 1,146 companies:

 

EQS Results

Bloomberg Professional – EQS Results

 

By clicking on ‘Results’, a listing is displayed, sorted by the default data field – Market Cap(italization). The currency is not clear at first sight. However, by hovering the mouse pointer over the column title (Market Cap), a pop up box confirms details: Currency: GBP, representing Great Britain Pounds.

 

Pharmaceutical Companies

Bloomberg Professional – Pharmaceutical Companies

 

Glaxosmithkline appears at number 10 in this listing. Interestingly, 3M doesn’t appear within the top 21, reflecting the earlier comment on categorisation of companies in different databases.

 

So, Equity Screening within Bloomberg Professional and Screening & Analysis within Thomson ONE.com databases have provided a listing of companies sorted by Market Capitalization and represent a reasonable solution to what was initially a difficult question to address.

 

Thomson ONE.com (from Thomson Reuters) and Bloomberg Professional are available to current students and staff of The University of Manchester.

 

Related posts include:

Company Employee Data Using Different Databases: [24 February 2016],  and

Company and Industry Comparisons: [10 July 2015].