Compustat North America (available via WRDS). We restrict the sample to loans with information on maturity and spread over LIBOR. Dealscan sources include regulatory filings, bank submissions and journalist contributions, and it is considered the premier loan market deals database. Our baseline analysis is conducted at. WRDS provides researchers access to financial, economic, and marketing data through a uniform, web-based interface. In addition, DealScan provides contract information for high yield bonds, private placements and hybrid financial structures data which are compiled from SEC filings and public documents, as well as other sources. DealScan is global commercial loan market data, including detailed terms and conditions on loan transactions. , facilities or tranches) in Dealscan to the borrowing firm's financial information on Compustat. Ninguna Categoria; TAX SHELTERS Y FRAUDE: DETECCIÓN Y CONTROL DE LA. We use the DealScan-Compustat Link Data to match loan observations with borrowers' financial data (Chava and Roberts, 2008). 7 We thank Michael Roberts for providing the dataset linking the Compustat and Dealscan databases, available on his website. Before you submit your application, please review the research interests of our academics to find a synergy with your own proposed topic area. S&P Compustat is the world's leading provider of financial information, and offers databases of fundamental financial, product line, and market data on U. The CRSP Link. Our Data Resources site contains information about the research data resources of the Department of Finance. It provides information about loan amounts, maturity, type of loan, syndication, covenants, pricing, among others. CRSP and Compustat. Company profile includes news, corporate overviews, financial data, market research reports, analyst reports, executive biographies, SWOT analysis, significant developments, strategic initiatives, industry norms, and market share. Banks' Exposure to Rollover Risk and the Maturity of Corporate Loans Teodora Paligorova Bank of Canada. program to calculate loan contract strictness, and to Michael R. To classify publicly reporting firms, the DealScan database uses the Ticker identifier. COMPUSTAT: Database of U. The views expressed in these papers are solely those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of. 8 We use the link provided by Michael Roberts to merge Dealscan with COMPUSTAT (seeChava andRoberts(2008)fordetails. I thank Michael Roberts for providing the link table between the COMPUSTAT and Dealscan databases. I not sure if the link file works for the lenders (since they are banks). Firms go through all sorts of merger/acquisition/spin offs. yThe authors are at the College of Management, Georgia Institute of Technology, 800 West Peachtree Street NW, Atlanta, GA 30308. Thomson Reuters LPC’s Dealscan database between 2010 and 2016. Do banks benefit from lending to innovative firms? Chen, Chua Song, M. This paper empirically shows that the cost of bank debt is systematically higher for firms that operate in. The resulting loans database includes information on speci c loan terms for new loans, notably loan amount, cost, and maturity. Merge with Compustat using the DealScan-Compustat link file provided by Micheal Roberts (Chava and Roberts, 2008), require each loan contract to have non-missing total assets, long-term liabilities and book value of equity available from Compustat for the most recent fiscal year before the loan initiation date. (Compustat), for syndicated loans led by US banks in DealScan. We link all this information with accounting data on corporate customers retrieved from Compustat. The bank loan data is collected from the Dealscan database and the relevant firm characteristics are taken from Compustat. When the sample is divided into secured versus. This link table. ISSN: 1962-5361 Disclaimer: This Philadelphia Fed working paper represents preliminary research that is being circulated for discussion purposes. MFLINKS Links mutual fund ownership data to CRSP data. edu, vikram. DealScan (WRDS) (Baruch & SPS users only). The following business and economics resources are available through WRDS: Compustat, DealScan, GTA-CSMAR, Eventus, NYSE Trade and Quote, Global Insight, OptionMetrics Ivy DB US, MSCI ESG Research (STATS), Mergent FISD Database and the Mergent FISD transactions datasets, CRSP and American. Frankb Sun, Zengyuanc aDepartment of Finance, University of Hong Kong, Hong Kong, [email protected] Our Data Resources site contains information about the research data resources of the Department of Finance. 毕业后一直从事会计方面工作,对会计的制度及运营具有丰厚的经验. Debt payments assume a 600bp spread over the 3-Month Treasury. Competition and the Cost of Debt * Philip Valta † HEC Paris. We are grateful to Denis Beyersdorf from Thomson Reuters for providing input on DealScan covenant data and Sudheer Chava and Michael Roberts for sharing the DealScan‐COMPUSTAT link file with us. 14 Another 12% of the firms in the Dealscan sample have exact matches in the LDB along the dimensions of firm name, city, and ZIP code. provides a peerless matching of CRSP historical price, distribution, and total return data with Compustat fundamental data by. We link all this information with firm-level fundamentals retrieved from Compustat. "Measuring the probability of financial covenant violation in private debt contracts," Journal of Accounting and Economics, Elsevier, vol. We match this informa-tion to borrower balance sheet and stock market performance characteristics from the Compustat and CRSP datasets. Obtain link of the excel le by right clicking Direct download for automated systems, and copy link address. Section7concludes. I would like to link two data frames that use different numeric keys, but similar strings. 3 We then draw our sample containing firm-year observations in which firms are bound by either a current ratio or a net worth. I have worked with well-known financial datasets such as TAQ, CRSP, COMPUSTAT, IVYDB OptionMetrics, RavenPack, DealScan, and others. The authors study the impact of institutional corporate social responsibility (CSR)—defined as CSR targeted at a borrowing firm’s secondary stakeholders—on bank loans. The Thomas J. Standard & Poor's COMPUSTAT is a database of financial, statistical, and marketing information. Volatility implied from equity option contracts (hereafter IV) represents today’s market assessment of. Michael Roberts for providing us the Dealscan-Compustat link file. It provides information about loan amounts, maturity, type of loan, syndication, covenants, pricing, among others. We thank Sudheer Chava and Michael Roberts for sharing their Dealscan-Compustat link file, Yiwei Dou for sharing renegotiation data, and Michael Roberts and Amir Sufi for making the covenant violation data publicly available. Eventus Software program to analyze stock returns & more. These resources include databases, pre-formatted tables and reports. Wharton Research Data Services taps the most comprehensive sources of financial, accounting, economic, management, marketing, banking, and insurance data. We thank Iftekhar Hasan, Gilles Hilary (the referee), Paul Malatesta (the editor), Yihui Pan, Fei Xie, and Yiqing Xu for helpful suggestions and comments. This data is provided to Capital IQ (Compustat) by FT Interactive. We match this data with dividend and financial firm data from the CRSP-Compustat merged database. DealScan Compustat link table provided by Chava and Roberts (2008), we match the corresponding loan records to Compustat data. It provides users with access to Loan Pricing Corporation's (LPC's) robust database of detailed terms and conditions on over 131,000 loan, high-yield bond and private placement transactions. The overall picture is: ne borrower per package, and the link file provide gvkeys for these borrowers; there are typically multi facilities per package, and multi lenders per facility. external nance mix (ECB, 2016). We examine the link between corporate governance, managerial incentives, and corporate tax avoidance. In addition, DealScan provides contract information for high yield bonds, private placements and hybrid financial structures data which are compiled from SEC filings and public documents, as well. In a simple regression framework, we nd evidence that loans organized by US banks with larger foreign exposure is correlated with higher spread, even after controlling for borrower riskiness, loan size, and other bank characteristics. To link these data sources, we useMichael Roberts' link table to match DealS can borrowers to Compustat and Aytekin Ertan's link table to match DealScan lead lenders to Compustat. Thomson Reuters LPC's Dealscan database between 2010 and 2016. Hidden in Plain Sight: Equity Price Discovery with Informed Private Debt Jawad M. This will provide data on shorted stocks for listed companies at the New York Stock Exchange, American Stock Exchange, and NASDAQ. We also thank Michael Roberts for sharing the DealScan-Compustat link file with us. 92 correlation in overlapping sample). compustat Database of U. I thank Peter Demerjian for providing me data to link Dealscan with Compustat. , Canadian, and international public companies gathered from a variety of sources including Securities and Exchange Commission filings and shareholder reports. Roberts for sharing the DealScan-Compustat link data. specifically, by matching information of publicly listed firms from Compustat to the BRDIS dataset, I have found that Tobin's q ratio 1 positively predicts firms' future innovative suc- cesses, even after controlling for R&D and patent information. This service and the data available thereon constitute valuable intellectual property and trade. Candidate in Finance August 2014 - May 2019 (Expected) Dissertation Topic: Three Essays on Banking. dealscan_performancepricing. They can be reached by email at: nishant. DealScan contains extensive and reliable information on the global commercial loan market. E-mail address:[email protected] fr Journal of Financial Economics 105 (2012) 661 682. For more information about available account types and parameters, please click the Account Types tab. loan contracts from Dealscan for 622 US firms from 1994 to 2004. 8 We use the link provided by Michael Roberts to merge Dealscan with COMPUSTAT (seeChava andRoberts(2008)fordetails. However, this coverage is limited; many publicly reporting firms are missing Ticker information or have been assigned outdated Tickers. When the sample is divided into secured versus. Stock Market Reactions To Bank Loan Announcements. Use this article to view the list of data SOM subscribes to through Wharton Research Data Services (WRDS). We match the DealScan dataset with the Compustat dataset using the list of identifiers constructed by Chava and Roberts (2008). By measuring bank concentration at a state level in US, we show supporting evidence to market power hypothesis that syndicated loan prices are positively associated with the concentration of both borrower's and lead arranger's markets but not the concentration of participant lenders. Our data encompasses 11,632 loan facilities with 3,441 unique borrowers over the period 1984-2016. Demerjian, Peter R. CRSP and Compustat. Further information can be found on the WRDS website (see links below). The Thomson Reuters database is provided via the Belk College's WRDS subscription. Johnsony Ping Liuz Yingjie Yux June, 2019 Abstract We analyze dynamic stationary models of capital structure, in partial and gen-. Includes S&P Capital IQ's Compustat Snapshot database, which has data as reported at that point in time, rather than re-stated information, thus avoiding reporting lag issues. Further information can be found on the WRDS website (see links below). Editor's note: Accepted by Leslie D. Second, while there is clear evidence of the existence of a leverage effect, most of the explained variation of. I restrict focus to loans in the Chava and Roberts (2008) link table for August 2012. WRDS access is available by account only - request account at wrds. and Canadian fundamental and market information on active and inactive publicly held companies. COMPUSTAT Global and Emerging Markets(Baruch & SPS users only) COMPUSTAT North America DealScan (WRDS) (Baruch & SPS users only) Derwent Innovations Index. Finally, I gratefully acknowledge financial support from the Paton Accounting Fellowship and the Deloitte Fellowship. • Determining the importance of the link between banks' financial condition and their lending behavior has proven difficult • The recent crisis provides a good opportunity to investigate the importance of that link. syndicated loans from DealScan, data for the borrowing firms from Compustat, data for the lead arrangers and participants from the Call Reports, and information on enforcement actions from a hand-collected dataset by Delis et al. covenant in firm EDGAR filings then conditional on finding the word covenant from CECS 4230 at Polytechnic University of Puerto Rico. Ipreo is not registered as a broker or dealer with the U. For our main results, we use all loans meeting the above criteria; these include both term loans and revolvers (lines of. The data goes back to approximately 1997. Announcing CRSP10! CRSP10 is a variation of the research-quality stock database that contains 10 years of monthly history for active and inactive securities. The bank L/C information is obtained from the Loan Pricing Corporation's DealScan database, and the firm financial information is from the Compustat Industrial Annual database. Editor's note: Accepted by Leslie D. To classify publicly reporting firms, the DealScan database uses the Ticker identifier. briefly, dealscan contains detailed contract information on sole-lender and syndicated loans; compsutat contains detailed financial information for firms. For each bank, I construct an index--the bank lending ratio--summarizing how much banks decreased lending after the crisis compared to their pre-recession level. Johnsony Ping Liuz Yingjie Yux June, 2019 Abstract We analyze dynamic stationary models of capital structure, in partial and gen-. determinants, 2) changes in investment efficiency, 3) impact of changes in GAAP on firms’. First, we merge loan data with borrower characteristics using the Dealscan-Compustat link from Chava and Roberts (2008). As of October 1, 2018, Thomson Reuters Financial and Risk is now known as Refinitiv. banks matter for M&A outcomes, and contrast earlier studies that show no positive link between various measures of advisor quality and M&A returns. Capital IQ Compustat and Thomson Reuters DealScan. Michael Roberts shared the database that links borrowing firms in Dealscan to Compustat. edu, vikram. Following Chodorow-Reich (2014), I use DealScan data to identify the banking institutions in lending relationships with the firms in the Compustat sample. We use Compustat for firm fundamental data and CRSP for stock price data. Can Central Banks Boost Corporate Investment: Evidence from the ECB Liquidity Injections. The PERMCOs displayed herein are used with the permission of the Center for Research in Securities Prices (CRSP(R)) and the University of Chicago Booth School of Business. The bank loan data is collected from the Dealscan database and the relevant firm characteristics are taken from Compustat. Before you submit your application, please review the research interests of our academics to find a synergy with your own proposed topic area. from Standard & Poor's Compustat loan-level information from Thomson Reutersand ' DealScan. Wharton Research Data Services (WRDS) is a web-based business data research service, from The Wharton School at the University of Pennsylvania, used by over 290 institutions around the world. All errors are our own. In cases a deal has several credit facilities, we aggregate the information in these. Wharton Research Data Services (WRDS) was used in Wharton Research Data Services (WRDS) was used in preparing this paper. The file contains 54 page(s) and is free to view, download or print. International. Jung Moon Choi from Thomson Reuters provided useful feedback about the construction of Dealscan Amendment data. Stine Louise Daetz. The match is accomplished by linking a loan's facility id (facilityid or facid) in Dealscan to a borrower's unique company identifier in Compustat (GVKEY). The empirical analyses using Compustat and LPC DealScan data supports the theoretical prediction that a riskier borrower seek for more trade credit financing, independent of bank loan access. Even though Dealscan provides detailed reports on each loan characteristics, it does not provide additional information about the lender and borrower per-se beyond company names and tickers ( if available). Dealscan-Compustat Link Data This link file enables researchers to merge Thomson-Reuter's LPC Dealscan database and Standard and Poor's Computstat database. The Wharton Research Data Service is a tool that makes selected JHU dataset subscriptions available. DealScan sample with covenants), maximum ratios appear stable over time. IPO Market Abstract We examine the long-run performance and valuation of IPOs underwritten by relationship banks. valuable comments and suggestions, and Michael Roberts for sharing the Compustat-Dealscan link -le with me. These tables connect the most active lenders from DealScan with the identifiers of their respective bank holding companies (BHC) in Compustat and BankScope. To determine whether CEO turnover is voluntary, corporate news surrounding CEOs’ turnover date is collected from the Factiva database. hk bDepartment of Finance, University of Hong Kong, Hong Kong, [email protected] Thank you for visiting. DealScan has data on the global commercial loan market. Availability WorldScope Fundamentals are available via Datastream, and are incorporated into Thomson ONE Banker. and Canadian fundamental and market information on active and inactive publicly held companies. Corporate Misreporting and Bank Loan Contracting Article in Journal of Financial Economics 89(1):44-61 · December 2007 with 152 Reads How we measure 'reads'. Lingnan University staff and students can access the following datasets through WRDS: Compustat Datasets : Compustat Global Compustat North America University Package. Compustat - Capital IQ. We use the DealScan-Compustat link provided by Michael Roberts which extends through 2013 (Chava and Roberts, 2008) to acquire financial and stock price information from Standard & Poor's Compustat data set (35,240 loans after this step). Wharton Research Data Services (WRDS) provides the leading business intelligence, data analytics, and research platform to global institutions - enabling comprehensive thought leadership, historical analysis, and insight into the latest innovations in research. Databases Financial Reporting and Business Communication Centre Papers and publications Working papers. Does Bank Power Raise Loan Price? Proceedings of 92nd thThe IIER International Conference, Guangzhou, China, 16 -17th January 2017, ISBN: 978-93-86291-93-6 16 Compustat-Dealscan link file to match each syndicated loan to its borrower whose financial data are collected from Compustat. thank Michael Roberts for sharing his Dealscan-Compustat link with us. Michael Roberts shared the database that links borrowing firms in Dealscan to Compustat. Financial Times Historical Archive. How do you decide which one is the original company after a split? And after 2 firms merge do you call it a new firm or not?. the loan-level data from Dealscan with Call Reports, with the help of coding from Call Reports and a hand-matching process. sg with the indication of the advertisement ID (JOB-2018 -0007931) in the subject. The project officer is required to have good knowledge and understanding of company’s annual reports and have reasonable knowledge of Generally Accepted Accounting Principles (GAAP). Identifying the balance sheet and the lending channels of monetary transmission: A loan-level analysis Uluc Aysuna,⇑, Ralf Heppb,1 a UCF College of Business Administration, 4000 Central Florida Blvd. CRSP's historical permco link for company level data. Lists public, private, and nonprofit global companies that can be searched using a set of criteria and downloaded. xWe are grateful to Michael Roberts and Sudheer Chava for sharing the DealScan-Compustat Link Table and to Andriy Bodnaruk and Marco Rossi for sharing their data on dual ownership. DANMARKS NATIONALBANK. It provides more than 300 annual and 100 quarterly Income Statement, Balance Sheet, Statement of Cash Flows, and supplemental data items. Second, while there is clear evidence of the existence of a leverage effect, most of the explained variation of. ;Includes access to I/B/E/S - to access please contact the Library Finance [email protected] Street. Includes access to DealScan, CRSP US indices database, RiskMetrics and Compustat execucomp. We thank Iftekhar Hasan, Gilles Hilary (the referee), Paul Malatesta (the editor), Yihui Pan, Fei Xie, and Yiqing Xu for helpful suggestions and comments. Dealscan data to examine how asset redeployability and borrower reputation a ect the use of intangible assets as collateral. 61(2), pages 433-447. Addoum1 Justin R. Is there a publicly shared database that links lenders in Dealscan to Call reports? OP, please create one and put the linking table in WRDS, like Michael Roberts did for Compustat-to-Dealscan linking. Finally, we thank Masahiro Taniguchi and Chie Kondo for their research assistance. edu, respectively. Conflict of Interest and Certification in the U. The resulting loans database includes information on speci c loan terms for new loans, notably loan amount, cost, and maturity. The DealScan database contains information on syndicated loans made by banks to typically large firms around the world. social performance database for the year 1991 to 2006 and used their environment ranking. 13 Based on our sample of LTRO-banks, we identify 89 out of 109 banks as bank lenders in LPC Dealscan. yThe authors are at the College of Management, Georgia Institute of Technology, 800 West Peachtree Street NW, Atlanta, GA 30308. Our data collection produces a comprehensive sample of 3,375 loans granted to 1,110 individual rms in the manufacturing sector over 25 years. Of 76,542 loans, 40,319 are linked to Compustat, 31,735 of which have a record on CRSP. SAS programmers should use the Link History dataset (ccmxpf_lnkhist) from CRSP. This paper empirically shows that the cost of bank debt is systematically higher for firms that operate in. Lead Article; Winner of the Brattle Prize for Distinguished Paper in the Journal of Finance. The key product of CCM is merely a permanent identifier linking table (PERMNO to GVKEY+IID), though CCM is often wrongly considered as merged product of CRSP stock market data with. The following business and economics resources are available through WRDS: Compustat, DealScan, GTA-CSMAR, Eventus, NYSE Trade and Quote, Global Insight, OptionMetrics Ivy DB US, MSCI ESG Research (STATS), Mergent FISD Database and the Mergent FISD transactions datasets, CRSP and American. The Belk College and UNC Charlotte offer outstanding research resources and facilities. Michael Roberts for providing us the Dealscan-Compustat link file. Capital IQ Compustat and Thomson Reuters DealScan. COMPUSTAT Includes Capital IQ products like Execucomp. Jung Moon Choi from Thomson Reuters provided useful feedback about the construction of Dealscan Amendment data. In this thesis we will investigate whether stock price reactions of small firms listed on the New York Stock Exchange are larger than stock price reactions of large NYSE listed firms after a bank loan announcement is made. We argue that, in addition to being a device for monitoring the borrower, covenants can help mitigate con icts of interest between the lead-arranger and participating banks in the syndicate. We also thank Michael Roberts for sharing the DealScan-Compustat link file with us. Compustat data together with the link and link-history references between these two databases. ;Includes access to I/B/E/S - to access please contact the Library Finance [email protected] Street. samples to conduct our tests: (1) a new loan sample from Dealscan and (2) a comprehensive sample from COMPUSTAT and (3) credit ratings sample. Subsequently, we use Compustat Global to match GVKEYs with ISIN codes. provides a peerless matching of CRSP historical price, distribution, and total return data with Compustat fundamental data by. The Securities and Exchange Commission, as a matter of policy, disclaims responsibility for any private publication or statement by any of its employees. But this is not what I find; to the contrary, based on firm-level data from Compustat and on aggregate data from the flow of funds accounts of the Federal Reserve Board, I show that it is the unsecured part of firm credit that strongly comoves with output. SAS programmers should use the Link History dataset (ccmxpf_lnkhist) from CRSP. The data reported are for the GVKEY organized by Compustat with no regard to the time period of the PERMCO in the link. Ipreo is not registered as a broker or dealer with the U. Contents: COMPUSTAT Global provides authoritative financial and market data covering publicly traded companies in more than 80 countries, representing over 90% of the world's market capitalization, including coverage of over 96% of European market capitalization and 88% of Asian market capitalization. The project officer is required to have good knowledge and understanding of company’s annual reports and have reasonable knowledge of Generally Accepted Accounting Principles (GAAP). compustat Database of U. Compustat - Capital IQ. The business press has often highlighted a weak link between firm performance and executives annual pay. We merge the Dealscan data with several other databases. Markit CDS trading (pricing) data etc. Databases Financial Reporting and Business Communication Centre Papers and publications Working papers. Dealscan provides, for every firm with publicly rated debt, the long-term rating at the time the syndicated deal is initiated. 4 21,457 114,989 DealScan & Compustat 7,670 263. Standard & Poor's COMPUSTAT is a database of financial, statistical, and marketing information. We construct three samples to conduct our tests: (1) a new loan sample from Dealscan and (2) a comprehensive sample from COMPUSTAT and (3) credit ratings sample. I merge the Thompson-Reuters Dealscan data to the cleaned version of the company names in the Compustat buyers data, using a fuzzy merge algorithm. DealScan (WRDS) (Baruch & SPS users only). (Compustat), for syndicated loans led by US banks in DealScan. DealScan Compustat link table provided by Chava and Roberts (2008), we match the corresponding loan records to Compustat data. Johnsony Ping Liuz Yingjie Yux June, 2019 Abstract We analyze dynamic stationary models of capital structure, in partial and gen-. hk bDepartment of Finance, University of Hong Kong, Hong Kong, [email protected] Financial info on approx 11m public and private European companies. We link the bankruptcy data set with our CDS sample to identify CDS firms filing for bankruptcy protection sometime after the first day of their CDS trading. Compustat using the 2012 DealScan-Compustat link dataset provided by Chava and Roberts (2008). Please click Question/Comments link in the menu if you have questions, concerns or difficulties getting the account set up. This paper empirically shows that the cost of bank debt is systematically higher for firms that operate in. S&P Capital IQ People Intelligence. Michael Roberts for generously sharing their DealScan-Compustat link. selecting the interest rate exposure of corporate debt. It includes Standard & Poor's Compustat data, reformatted into CRSP's proprietary CRSPAccess database format. fr Journal of Financial Economics 105 (2012) 661 682. \爀屲對SDC Platinum provides M&A, issues \⠀搀攀戀琀 愀渀搀 攀焀甀椀琀礀尩, pe/vc, public finance data and more. stock data and select Compustat data files. Demerjian, Peter R. Compustat - Capital IQ. (Compustat), for syndicated loans led by US banks in DealScan. DealScan-Compustat link information, Vandee Marquez at Sagient Research for help with the PlacementTracker database, and the Graduate College and the Coles College of Business at the Kennesaw State University for financial support. Antonio Falato and Nellie Liang are with the Federal Reserve Board. COMPUSTAT: Database of U. Bloomberg contains current and historical financial information on individual equities, stock market indices, fixed-income securities, currencies, commodities, and futures. DealScan Compustat link table provided by Chava and Roberts (2008), we match the corresponding loan records to Compustat data. firms between January 1, 2006 and May 31, 2009 from the Loan Pricing Corporation's DealScan database. We are indebted to Nikki Bosch, Patty Bosch, Nadya Jaddoe, and Ewout Verriest for superb research assistance. The following business and economics resources are available through WRDS: Compustat, DealScan, GTA-CSMAR, Eventus, NYSE Trade and Quote, Global Insight, OptionMetrics Ivy DB US, MSCI ESG Research (STATS), Mergent FISD Database and the Mergent FISD transactions datasets, CRSP and American. Compustat North America includes company- and executive-level information on publicly held companies. Any errors or omissions are our own responsibility. These are the views of the authors and not necessarily the views of the Bank of Canada, the Federal Reserve Bank of New York or the Federal Reserve. This paper empirically shows that the cost of bank debt is systematically higher for firms that operate in. 92 correlation in overlapping sample). Data: Dealscan-Compustat Link File used in this study "Back to the Beginning: Persistence and the Cross-Section of Corporate Capital Structure," with Michael Lemmon and Jaime Zender, 2008, Journal of Finance 63, 1575 - 1608. We obtain accounting and segment data from Compustat and stock returns from CRSP. For complete definitions, codes, and formulas for Compustat items, see the documentation and resources provided to you by Compustat. Markit CDS trading (pricing) data etc. CRSP maps its U. Files contain only companyid. The matching process between DealScan and Compustat is done using the link-table provided by WRDS (facility and gvkey). and Canadian fundamentals and market information on active and inactive publicly held companies. Thomson Reuters LPC's Dealscan database between 2010 and 2016. [email protected] We thank Iftekhar Hasan, Gilles Hilary (the referee), Paul Malatesta (the editor), Yihui Pan, Fei Xie, and Yiqing Xu for helpful suggestions and comments. S&P Compustat is the world's leading provider of financial information, and offers databases of fundamental financial, product line, and market data on U. Merge with Compustat using the DealScan-Compustat link file provided by Micheal Roberts (Chava and Roberts, 2008), require each loan contract to have non-missing total assets, long-term liabilities and book value of equity available from Compustat for the most recent fiscal year before the loan initiation date. the loan-level data from Dealscan with Call Reports, with the help of coding from Call Reports and a hand-matching process. In addition, DealScan provides contract information for high yield bonds, private placements and hybrid financial structures data which are compiled from SEC filings and public documents, as well as other sources. yThe authors are at the College of Management, Georgia Institute of Technology, 800 West Peachtree Street NW, Atlanta, GA 30308. Covenant limits are weighted by deal amount. Special thanks to Mark Carey and Greg Nini for their help with Dealscan and for kindly sharing their Compustat‐Dealscan key. I thank Michael Roberts for providing the link table between the COMPUSTAT and Dealscan databases. It provides users with access to Loan Pricing Corporation's (LPC's) robust database of detailed terms and conditions on over 131,000 loan, high-yield bond and private placement transactions. See the complete profile on LinkedIn and discover Bardia's connections and jobs at similar companies. All errors are my own. Accessing method: WRDS (under the Compustat link) Back to top. This data is provided to Capital IQ (Compustat) by FT Interactive. We are indebted to Nikki Bosch, Patty Bosch, Nadya Jaddoe, and Ewout Verriest for superb research assistance. Our courses also receive accreditation from the Association of Chartered Certified Accountants (ACCA. However, a recent Wall Street Journal article reports an increase in the pay and performance relation and suggests new regulations requiring investor's votes on compensation played 1a role in the. COMPUSTAT, for example, does not have this information, and LPC-Dealscan has only originations (not balances), and even then only for larger firms and banks. Compustat database and Thomson Reuters' Dealscan database using the link file from Chava and Roberts (2008) to identify this intersection. Debt Contracts and Loss Given Default This study explores how accounting information available to lenders at the contracting date shapes debt contracts by facilitating lenders ' assessment of loss given default (LGD). Files contain only companyid. Appendix 1: Identifying changes in GAAP that are likely to inform managers Hypothesis 3 predicts that some accounting changes can inform managers and facilitate their investment decisions. Conflict of Interest and Certification in the U. COMPUSTAT provides the annual and quarterly Income Statement, Balance Sheet, Statement of Cash Flows, and supplemental data items on most publicly held companies. Hami Amiraslani gratefully acknowledges financial support from the Economic and Social Research Council (ESRC) and the London School of Economics. Each professional in the database has a distinct profile which can include. Standard & Poor's COMPUSTAT is a database of financial, statistical, and marketing information. Compustat using the 2012 DealScan-Compustat link dataset provided by Chava and Roberts (2008). Wharton Research Data Services (WRDS) is a web-based business data research service, from The Wharton School at the University of Pennsylvania, used by over 290 institutions around the world. Any GVKEY found with a PERMCO in its link history can be reported. Differences in average re-turns across banks are also persistent over time and predictable from prior performance. I would like to link two data frames that use different numeric keys, but similar strings. Therefore, we use. ISSN: 1962-5361 Disclaimer: This Philadelphia Fed working paper represents preliminary research that is being circulated for discussion purposes. sg with the indication of the advertisement ID (JOB-2018 -0007931) in the subject. Debt Contracts and Loss Given Default This study explores how accounting information available to lenders at the contracting date shapes debt contracts by facilitating lenders ’ assessment of loss given default (LGD). These tables connect the most active lenders from DealScan with the identifiers of their respective bank holding companies (BHC) in Compustat and BankScope. In addition, DealScan provides contract information for high yield bonds, private placements and hybrid financial structures data which are compiled from SEC filings and public documents, as well. Stock Market Reactions To Bank Loan Announcements. CRSP provides two views of the data through the CRSP Link. also thank Michael Roberts for sharing the Compustat-Dealscan link le with me. 17 Using Compustat data, for each. [email protected] And from here: LINKPRIM clarifies the link's relationship to Compustat's marked primary security within the related range. We are indebted to Nikki Bosch, Patty Bosch, Nadya Jaddoe, and Ewout Verriest for superb research assistance. Our Masters courses draw upon our excellence in cutting-edge research, and provide able graduates with theoretical and practical skills needed to succeed in the increasingly complex world of finance. Further information can be found on the WRDS website (see links below). Once you have a WRDS account, you can access the WRDS web interface from this link: Wharton Research Data Services (WRDS) Graduate students and faculty members with a persistent WRDS account can also use Secure Shell Client (SSH) and a terminal application access and use WRDS from a command line. Roberts for sharing the DealScan-Compustat link data. Starting from Behavioral Accounting Research and moving to Neuroaccounting methodologies we tried to link positively visual attention and visual profile of accounting information, during decision making processes, through the implementation of Eye tracker in the first preliminary experiment. Our baseline analysis is conducted at. SAS programmers should use the Link History dataset (ccmxpf_lnkhist) from CRSP. We use the DealScan-Compustat Link Data provided on Michael Robert’s Web site (Chava and Roberts 2008) to obtain borrower gvkeys. Obtain link of the excel le by right clicking Direct download for automated systems, and copy link address. All errors are our. Syndicated Loans: The Role of Covenants in Mitigating Lender. We begin with a sample of private loan packages from Dealscan with loan inception years 1996 through 2008 for which we can obtain a Compustat link and have non-missing data for loan facility amount, maturity, security requirements, and interest spread (hereafter referred to as the "loan package sample"). and Canadian fundamental and market information on active and inactive publicly held companies. Measuring Inter-Industry Financial Transmission of Shocks Work in Progress Report October 25th 2006 Daniel Paravisini Columbia University GSB * I choose a couple of the largest banks in the US in 2002 and show you how the composition of their loan portfolios differs. banks matter for M&A outcomes, and contrast earlier studies that show no positive link between various measures of advisor quality and M&A returns. \爀屲對SDC Platinum provides M&A, issues \⠀搀攀戀琀 愀渀搀 攀焀甀椀琀礀尩, pe/vc, public finance data and more. It is accessible to NYU through the WRDS website, listed under Thomson. ;Includes access to I/B/E/S - to access please contact the Library Finance [email protected] Street. Corporate Misreporting and Bank Loan Contracting Article in Journal of Financial Economics 89(1):44-61 · December 2007 with 152 Reads How we measure 'reads'. Federal Reserve Call Reports and incorporate a broader range of bank characteristics to investigate bank effects on loan yield spreads.