Research Resources:
Subject Research Guides:
Business:
Finance and Economics
This will point to sources of financial and economic data and research resources, in print and online. Simply return to the Rutgers University Libraries Business Research Guide for other topics.
A. Corporate Filings/Annual Reports
I. Snapshots
For a quick profile of a public company's financial position, use one of the following:
II. Annual Reports
Annual reports to shareholders and 10-K reports filed with the U.S. Securities and Exchange Commission may be obtained from three primary sources:
- The Dana Library has a collection of 10K reports from 1973 to 2002; as well as annual reports for NYSE and AMEX companies from 1966 to 2002. These reports are on CD-ROM from 1989 to 2002 (DANA REF LaserDisclosure Workstation); earlier years are on microfiche.
- The SEC's EDGAR web site contains many kinds of reports for many companies (not all) from 1993 onwards. EDGAR filings are also freely available from the private sector (but often registration is required); please refer to the Accounting research guide.
- Many companies now publish their annual report to shareholders on their corporate Website. Look for links to current reports at AnnualReports.com.
III. "Annual Report Surrogates"
Among the many surrogates or summaries of corporate financial information are these time-tested sources:
- Compact D/SEC from Primark. On CD-ROM from 1988 to 2006. (CAMDEN, DANA REF CD-ROM, KILMER Business Workstation 2)
-
Mergent Online, the electronic version (Rutgers-restricted Access) of the Mergent/Moody's Manuals, covers 22,000 public companies worldwide. (Latest issues: DANA REF Index Table I, KILMER Business Counter 2; 1901 onwards: DANA HG stacks.
- Standard & Poor's Corporation Records (DANA REF Index Table I, KILMER Business Counter 2)
Value Line Research Center and Value Line Historical Reports are the online equivalents (Rutgers-restricted Access) of Value Line Investment Survey (Latest issues: CAMDEN, DANA, KILMER Reference Desk; on microfilm cartridges from 1969-1979, and on microfiche from 1980 onwards DANA Reference Area). NB: KILMER has the Expanded Edition.
- Hoover's Handbooks (DANA Reference Desk, KILMER Business Counter 1) or Hoover's Online. The detailed company profiles are now accessible via LexisNexis Academic. (Rutgers-restricted Access) Just click on "Business" followed by "Company Profiles" to select this database from the list of Sources.
IV. Executive Compensation
Compensation details are often buried in the company's Proxy Statement filed with the SEC. Start with the EDGAR Company Search and limit your results by Form Type "DEF 14A" (Schedule 14A is the definitive proxy statement). In many cases, these filings go back to 1993.
B. Bonds
I. Sources For Company Information
- The Mergent Bond Record (DANA Business Reference) and its competitor, the monthly Standard & Poor's Bond Guide, (DANA Index Table F), provide corporate debt ratings and information on specific debt issues.
- Use Mergent Online (Rutgers-restricted Access) (formerly FIS Online) to see if there are any detailed "Corporate Bond Portraits" for your company.
II. Sources For Similarly-Rated Firms
- You can refer to the Blue Pages in the old Moody's Manuals, (DANA HG stacks) which are very detailed. The new Mergent Manuals do not have the blue pages, unfortunately. For yields by selected rating groups (Aaa and Baa only), refer to
Selected Interest Rates from the Federal Reserve Board. Scroll down to the middle of the page to find the links for daily, weekly, monthly, and annual data.
III. Municipal Bonds
- Daily bond prices (as well as information on some historical transactions) are available from the Municipal Market At-A-Glance of the Bond Market Association.
- Current and historical (back to 2000) municipal bond prices can be found at MunicipalBonds.com. This site provides summary reports for each trading day, not by issuing authority or state agency.
C. Stocks
I. Sources For Company Information
- The Standard & Poor's Stock Reports (DANA Business Reference) and its companion, the more selective S&P Stock Market Encyclopedia, (DANA REF HG 4921 .S68) provide ten years of stock price (annual high and low) information as well as "tangible" book value per share.
- The Mergent Handbook of Common Stocks (CAMDEN, DANA, KILMER REF HG 4905 .M815) also has stock price (annual price range) information for ten years, covering almost 1,000 firms.
- Historical stock quotes are available from:
II. Sources For Industry Information
- The single most useful source for industry-sector per-share data is the annual S&P Analysts' Handbook (DANA REF HG 4519 .S772) which provides up to 30 years worth of information.
- You can also refer to the industry sections of the Value Line Investment Survey, referred to above.
- The monthly Standard & Poor's Statistical Service (DANA Business Reference) provides selected current and historical statistics on 12 industries.
III. Sources of Risk Measurement (Equity Beta)
- The beta for most publicly-traded firms is to be found in the annual Security Risk Evaluation published by Merrill Lynch. The 2004-2007 online editions are very large PDF files; 1980 onwards: DANA REF HG 4501 .S42
- The Standard & Poor's Stock Reports and its companion, the S&P Stock Market Encyclopedia, began including betas with the Fall 1986 issue. See above for locations.
- Dividend payouts (and stock splits) may be found on the Historical Prices section of Yahoo! Finance.
- The Standard & Poor's Stock Reports and its companion, the more selective S&P Stock Market Encyclopedia, provide ten years of dividend information. See above for locations.
- The Mergent Handbook of Common Stock also has dividend payout information for 8-10 years. See above for locations.
- Sometimes, the Wall Street Journal or the New York Times carries news of firms repurchasing shares. Consult the appropriate print indexes or refer to the Newspapers Research Guide.
- The cost of repurchasing shares is reported in the cash flow statement within a corporation's annual financial statements. Mergent Online (Rutgers-restricted Access) will provide up to fifteen years of data.
- You can also compare the number of shares outstanding over time by consulting the sources listed above for dividend information.
There are many different kinds of interest rates, including those for deposits and loans. The most common debt instruments referred to for risk-free rates are:
- 3-month (13-week) Treasury Bills
- 1-year Treasury Notes
The Latest Auction Data for these Government securities and other debt instruments may be found on Table 1.35 in the monthly Federal Reserve Bulletin (Latest issues: ALEXANDER, CAMDEN, DANA Periodicals Department) as well as online on:
- FRED II, the Federal Reserve Economic Data database of the Federal Reserve Bank of St Louis.
For statistical data of all sorts, refer to the following print sources:
Business Statistics of the United States, Bernan Press, annual.
ALEXANDER DOCREF; DANA Reference Desk; KILMER REF HC 101. A13122
Statistical Abstract of the United States U.S. Government Printing Office, annual.
ALEXANDER, CAMDEN, DANA, KILMER Reference Desk
F. Industrial and Financial Ratios
- Troy's Almanac of Business and Industrial Financial Ratios. (CAMDEN, DANA, KILMER REF HF 5681 .R25 T68) Ratios, grouped by asset size, are listed for industries and product lines, by NAICS code beginning in 2002. Earlier editions used SIC numbers.
- Standard & Poor's Analyst's Handbook: Composite Corporate Per Share Data by Industries (DANA REF HG 4519 .S882). Provides selected income statement items and ratios in relation to S&P stock price indexes. Up to thirty years of annual data are given for each industry.
- Annual Statement Studies from the Risk Management Association (formerly Robert Morris Associates). (DANA Reference Desk) Gives current and historical ratios for manufacturing, wholesale, retail, and selected service industries. Includes a bibliography of ratio sources for particular industries. You can also purchase Annual Statement Studies by NAICS for individual industry sectors.
- D&B Key Business Ratios (Rutgers-restricted Access) provides key ratios (at median, upper, and lower quartiles) for industries arranged by SIC number. The print version, D&B Industry Norms and Key Business Ratios, has more ratios than the online database. (CAMDEN, DANA, KILMER Reference Desk)
- QFR - Quarterly Financial Report for Manufacturing, Mining and Trade Corporations. (ALEXANDER USDOC; DANA Periodicals) Presents estimated statements of income and retained earnings, balance sheets, and related financial and operating ratios.
G. Economic Indicators
I. Financial Indicators
Financial indicators include the commonly followed stock market indexes such as the Dow and the S&P 500, along with indexes for the NASDAQ. The other broad category of financial data comes from the Federal Reserve Board, with the focus on a variety of interest rates (for such instruments as Treasury bills and corporate bonds) and measures of the money supply.
Equity Market Indexes
Financial Market Data
II. Income Indicators
Measures of poverty and income and calculated by the Census Bureau, partly based on the Current Population Survey and partly on the Census 2000 Supplementary Survey. Wages and compensation statistics are collected and published by the Bureau of Labor Statistics.
Income and Poverty
Wages and Compensation
III. Price Indexes and Consumption Patterns
The inflation rate is commonly based on changes in the consumer price index. Often overlooked is the producer price index, which tracks changes at the wholesale level. Similarly, there is a distinction between retail sales (or the consumption of consumer goods and services) and wholesale trade (or the value of manufacturers' shipments).
Price Indexes
General Consumption
Housing Market
IV. Manufacturing and Production
There are several different measures related to production in the manufacturing sector, including capital expenditures, shipments, inventories, orders, and the utilization of plant capacity.
V. Labor and Employment Indicators
Employment indicators include the unemployment rate as well as the size of the labor market. Most of the following statistics are collected and published by the US Department of Labor, primarily through its Bureau of Labor Statistics.
Labor Market Data
H. Economic Reviews
Reports on the economy are often summarized in the business press. These reports are based on economic reviews published periodically - monthly, quarterly, or annually - by various government agencies, research institutes, and commercial firms. Most economic reviews are based on the analysis of data collected by government agencies such as the Commerce Department and the Labor Department. Other are measures of consumer confidence e.g. the monthly surveys from the Conference Board and from the University of Michigan, or business confidence e.g. the monthly survey from the National Federation of Independent Business.
Below are some examples of reviews and reports, organized by type of institution:
I. Federal Agencies
II. State and Regional Agencies
III. Research Institutes and Trade Associations
IV. Commercial Firms
I. Economic Forecasts
Many economic indicators, reviews, and surveys are analyzed and used in forecasting future trends and developments. These projections are offered by different organizations, including various government agencies, research institutes, trade associations, and commercial firms.
J. Journals
Rutgers University Libraries subscribes to many key journals within the fields of finance and financial economics. Some are available in print format throughout the Rutgers Libraries. Several titles are also available through subscription databases made available through the Rutgers University Libraries. To search for journal titles not listed here, conduct a periodical title search in IRIS.
International Review of Economics and Finance
Electronic access: Full text for 1999 - present on ScienceDirect. Access from campus or login via Rutgers account.
Journal of Finance
Electronic access: Full text for 1946-2003 only on JSTOR.
Electronic access: Full text for 2003 - present on Blackwell. Access from campus or login via Rutgers account.
ALEXANDER, 1946 - ; CAMDEN, 1998 - 2001; DANA, 1946 - .
Journal of Financial and Quantitative Analysis
Electronic access: Full text for 1966-2002 only on JSTOR.
Electronic access: Full text for 1966 - present on Business Source Premier. Access from campus or login via Rutgers account.
ALEXANDER, 1966 - ; CAMDEN, 1972 - 2002; DANA, 1966 - 2002.
Journal of Financial and Strategic Decisions
Electronic access: Full text for 1994 - present from publisher.
Journal of Financial Economics
Electronic access: Full text for 1980 - present on ScienceDirect. Access from campus or login via Rutgers account.
ALEXANDER, 1974 - 2000; CAMDEN, 1995 - 1999; DANA, 1978 - 2000.
Journal of Financial Research
Electronic access: Full text for 1978 - present on Business Source Premier. Access from campus or login via Rutgers account.
ALEXANDER, 1986 - 1999; CAMDEN, 1995 - 2002; DANA, 1984 - .
Journal of International Money and Finance
Electronic access: Full text for 1982 - present on ScienceDirect. Access from campus or login via Rutgers account.
ALEXANDER, 1987 - 2000; CAMDEN, 1995 - 2000.
Journal of Multinational Financial Management
Electronic access: Full text for 1997 - present on ScienceDirect. Access from campus or login via Rutgers account.
Quarterly Review of Economics and Finance
Electronic access: Full text for 1993 - present on ScienceDirect. Access from campus or login via Rutgers account.
CAMDEN, 1992 - 2000; DANA, 1992 - 2000.
Rand Journal of Economics
Electronic access: Full text for 1984 - present (with a one year embargo) on Business Source Premier. Access from campus or login via Rutgers account.
ALEXANDER, 1984 - ; CAMDEN, 1984 - 1989; DANA, 1987 - 2002.
Review of Financial Studies
Electronic access: Full text for 1988-2003 only on JSTOR.
Electronic access: Full text for 1988-present from Oxford University Press. Access from campus or login via Rutgers account.
ALEXANDER, 1988 - ; CAMDEN, 1998 - .
K. Working Papers
L. Other Resources
I. Dictionaries and Encyclopedias
Blackwell Encyclopedic Dictionary of Finance. Douglas Wood and Dean Paxson, eds. Blackwell, 1997.
ALEXANDER REF HG 151 .B49
Dictionary of Banking and Finance. Peter Collin. Collin, 1999.
ALEXANDER, KILMER REF HG 151 .C655
Dictionary of Finance and Banking. Brian Butler, David Butler, and Alan Isaacs, eds. Oxford University Press, 1997.
DANA STACKS, KILMER REF HG 151 .D54
Dictionary of Financial Abbreviations. John Paxton. Fitzroy Dearborn, 2003.
DANA REF HG 151.3 .P39
Encyclopedia of Banking and Finance. Charles Woedlfel. Probus, 1994.
ALEXANDER, DANA, KILMER REF HG 151 .E63
International Dictionary of Banking and Finance. John Clark. American Management Association, 1999.
ALEXANDER REF HG 151 .C53
International Dictionary of Finance. Graham Bannock and William Manser. Wiley, 2000.
KILMER REF HG 151 .B274
New Palgrave Dictionary of Money and Finance. 3 vols. Peter Newman, Murray Milgate, and John Eatwell, eds. Macmillan, 1992.
ALEXANDER, CAMDEN, DANA, KILMER REF HG 151 .N48
II. Resource Guides
Start with the
WWW Virtual Finance Library (Ohio State University). Other useful sites include:
Guide to Economic Indicators. Norman Frumkin. M.E.Sharpe, 2006.
ALEXANDER, CAMDEN, DANA REF HC 103 .F9]
Guide to Economic Indicators: Making Sense of Economics. The Economist. Bloomberg Press, 2007.
DANA REF HA 29 .E28]
Handbook of United States Economic and Financial Indicators. Frederick M. O'Hara, Jr. and Frederick M. O'Hara, III. Greenwood Press, 2000.
ALEXANDER REF HC 106.8 .O47]
The International Financial Statistics Locator: A Research and Information Guide. Domenica M. Barbuto. Garland Publishing, 1995.
ALEXANDER DOCREF HG 151.7 .B37, DANA REF DESK, KILMER REF HG 151.7 .B37
Investment Statistics Locator. Linda Holman Bentley and Jennifer J. Kiesl. Oryx Press, 1995.
DANA REF DESK, KILMER HG 4910 .B46
Trader's Guide to Key Economic Indicators. Richard Yamarone. Bloomberg Press, 2004.
DANA REF, KILMER HC 106.83 .Y35]
III. Data Sources
The Global Financial Database (Rutgers-restricted Access) is the most complete collection of historical and current financial and economic data available in the world. Covering more than 150 different countries, it provides over 6500 different data series (including interest rates, exchange rates, and price indices) that you can immediately download directly from the web site.
Other useful sites include:
Business Statistics of the United States, Bernan Press, annual.
ALEXANDER DOCREF; DANA Reference Desk; KILMER REF HC 101. A13122
Statistical Abstract of the United States U.S. Government Printing Office, annual.
ALEXANDER, CAMDEN, DANA, KILMER Reference Desk
IV. Tutorials
