The Impact of Industry Classification Schemes on Financial Research
dc.contributor.author | Weiner, Christian | |
dc.date.accessioned | 2017-06-15T23:04:24Z | |
dc.date.available | 2017-06-15T23:04:24Z | |
dc.date.created | 2006-02-09 | |
dc.date.issued | 2005-12-20 | |
dc.identifier.issn | 1860-5664 | |
dc.identifier.uri | http://edoc.hu-berlin.de/18452/4591 | |
dc.description.abstract | This 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.iso | eng | |
dc.publisher | Humboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät | |
dc.rights.uri | http://rightsstatements.org/vocab/InC/1.0/ | |
dc.subject | industry classification | eng |
dc.subject.ddc | 330 Wirtschaft | |
dc.title | The Impact of Industry Classification Schemes on Financial Research | |
dc.type | book | |
dc.identifier.urn | urn:nbn:de:kobv:11-10057507 | |
dc.identifier.doi | http://dx.doi.org/10.18452/3939 | |
dc.subject.dnb | 17 Wirtschaft | |
local.edoc.container-title | Sonderforschungsbereich 649: Ökonomisches Risiko | |
local.edoc.pages | 52 | |
local.edoc.type-name | Buch | |
local.edoc.container-type | series | |
local.edoc.container-type-name | Schriftenreihe | |
local.edoc.container-volume | 2005 | |
local.edoc.container-issue | 62 | |
local.edoc.container-year | 2005 | |
local.edoc.container-erstkatid | 2195055-6 |