Using approximately 10,000 firms jointly covered by Compustat and CRSP from 1974–1993, we find substantial differences in the SIC codes designated by the two databases. More than 36 percent of the classifications disagree at the two-digit level and nearly 80 percent disagree at the four-digit...

Although industrial classifications are an important part of financial research, few researchers explicitly recognize the data base they use in classifying industrial structure. There are substantial differences, however, in primary SIC codes for firms on Compustat and CRSP. Over 36% of the...

Although industrial classifications are an important part of financial research, few researchers explicitly recognize the data base they use in classifying industrial structure. There aresubstantial differences, however, in primary SIC codes for firms on Compustat and CRSP. Over 36% of the...

Using approximately 10,000 firms jointly covered by Compustat and CRSP from 1974-1993, we find substantial differences in the SIC codes designated by the two databases. Over 36% of the classifications disagree at the two-digit level and nearly 80% disagree at the four-digit level. We examine the...