New from CRSP - november 2008
AMEX Acquisition and Name Change
On October 1, 2008, NYSE Euronext announced the completion of its merger with the American Stock Exchange. Upon completion of the merger, the AMEX was renamed NYSE Alternext US. For the purposes of index and portfolio creation, this name change has no effect. The new NYSE Alternext US name will be reflected in near- future releases of our software and data.
The University of Chicago Booth School of Business
On November 6, a gift of $300 million was presented to the University of Chicago for the benefit of the Graduate School of Business by University Trustee and alumnus David G. Booth, MBA ’71, his wife Suzanne Booth, and their children, Erin and Chandler Booth. This is the largest donation in the University’s history and the largest gift ever in support of any business school. In recognition of the Booth family’s extraordinary generosity, the Board of Trustees has voted unanimously to name the school the University of Chicago Booth School of Business
In making the gift, Booth noted that his successful investment firm, Dimensional Fund Advisers, was built on principles he learned at the University and particularly from Professor and CRSP Board Member Eugene Fama.
Mr. Booth founded Dimensional Fund Advisers in 1981 with classmate Rex Sinquefield, MBA ’72. His deep commitment to the University of Chicago has been long-standing, including his service on the University Board of Trustees from 2002 to the present, and on the GSB Council from 1999 to the present. He earlier gave the University $10 million to help fund construction of the Charles M. Harper Center.
Best Paper Award from crsp Forum 2008
CRSP congratulates Jonathan Karpoff, and Xiaoxia Lou for winning the Best Paper Award, as chosen by CRSP Forum 2008 attendees. Karpoff is the Norman J. Metcalfe Professor of Finance at the University of Washington’s Michael G. Foster School of Business. Lou is an Assistant Professor of Finance at the Alfred Lerner College of Business & Economics at the University of Delaware. Karpoff presented the paper titled Do Short Sellers Detect Overpriced Firms? Evidence from SEC Enforcement Actions, which examined short selling in the stocks of firms that subsequently are identified by
the SEC as having misrepresented their financial statements, and reported three findings.
New CCM Database Shipping mid-november
By mid-November, CRSP will have shipped the CRSP/Compustat database in the new CCM format that contains many additional items available through Compustat’s Xpressfeed format. Subscribers will receive the new CCM format, CMX_200806 or 2000810, depending on their subscription frequency. These databases contain new security-level links. The addition of these security links required laboriously re-researching all CRSP links. Research will continue for the months ahead. We advise our CCM subscribers to review the Release Notes that will accompany the new databases. All subscribers will get CRSPSift for Windows, along with sample data that they may use with it. CRSPAccess will be shipped to our Linux and Sun CCM subscribers and to others who request it.
reaction to the economy
Media outlets have turned to Chicago Booth Professors for reactions to and explanations of the recent events in the U.S. economy. A few of the articles are listed below. For a complete list, click here. >>
Douglas Diamond on Whether to Recapitalize Banks
Diamond raised the question in 2001. Read his research paper>
The Credit Crisis: A Lecture Series
Douglas Diamond, Merton H. Miller Distinguished Service Professor of Finance, discussed "The Current Financial Crisis, Other Recent Crises, and the Role of Short-term Debt," at the second of four weekly lectures on the credit crisis hosted by the Initiative on Global Markets, Tuesday, October 28.
Time for Action, But What Kind?
John Cochrane of Chicago Booth, CRSP Board of Directors, and Keynote Speaker at CRSP Forum 2008, and Steven Kaplan, of Chicago Booth and member of the CRSP Board of Directors, respond to bailout plan in Wall Street Journal and NPR. more>
Steven Kaplan on Executive Pay Restrictions
Hear Kaplan’s remarks on a podcast from the Wall Street Journal listen>
Douglas Diamond and Anil Kashyap on the Recent Financial Upheavals
Steven Levitt turns to GSB experts in the New York Times Freakonomics blog. more>
___________________
Michael Mussa, Senior Fellow at the Peterson Institute for International Economics, was part of the Forum 2008's Economy Panel. He has been featured frequently on NPR. Click here for a list of segments. >>
new ccm shipment dates
The monthly Compustat Xpressfeed data cut dates occur earlier in the month than the old FTP file cut dates. As a result, CRSP has adjusted our shipping dates to allow our subscribers to receive your data earlier as well. Please click here for revised shipment dates. >>
NEW ISSUE OF the CLIENT CHRONICLE
There's a new issue of the newsletter available. To read it online, click here. >>
CRSP IS GOING GREEN!You may also link to them sitewide via the Documentation tab on the Quick Links menu to the left. |
| November 3-4 | CRSP FORUM 2008! |
| November 18 | US Stock and Indices Database Ship Date |
| November 28 | CRSP/Ziman Real Estate Data Series Ship Date |
| December 3 | CRSP/Compustat Merged Database Ship Date |