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2005-12-20Buch DOI: 10.18452/3939
The Impact of Industry Classification Schemes on Financial Research
dc.contributor.authorWeiner, Christian
dc.date.accessioned2017-06-15T23:04:24Z
dc.date.available2017-06-15T23:04:24Z
dc.date.created2006-02-09
dc.date.issued2005-12-20
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/4591
dc.description.abstractThis paper investigates industry classification systems. During the last 50 yearsthere has been a considerable discussion of problems regarding the classification ofeconomic data by industries. From my perspective, the central point of each classificationis to determine a balance between aggregation of similar firms and differentiationbetween industries. This paper examines the structure and content ofindustrial classification schemes and how they affect financial research. I use classificationsystems provided by the Worldscope and the Compustat database. First,this study gives a detailed description of the structure and methodology of industrialclassification systems and the relevance in leading finance and accounting journals.Second, I construct a benchmark classification system to measure the performanceof different systems and provide evidence that some systems a more homogeneousin terms of value drivers than others. Third, I examine how multiple valuation isinfluenced by industry classification and show that the results vary significantly fordifferent systems.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectindustry classificationeng
dc.subject.ddc330 Wirtschaft
dc.titleThe Impact of Industry Classification Schemes on Financial Research
dc.typebook
dc.identifier.urnurn:nbn:de:kobv:11-10057507
dc.identifier.doihttp://dx.doi.org/10.18452/3939
dc.subject.dnb17 Wirtschaft
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages52
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2005
local.edoc.container-issue62
local.edoc.container-year2005
local.edoc.container-erstkatid2195055-6

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