A Method to Address the Effectiveness of the SIC Code for Selecting Comparable Firms

被引：2
|
作者：
Marozzi, Marco [1 ]
机构：
[1] Univ Calabria, Dept Econ Stat & Finance, Via Bucci 0C, I-87036 Arcavacata Di Rende, CS, Italy
来源：
ELECTRONIC JOURNAL OF APPLIED STATISTICAL ANALYSIS | 2013年 / 6卷 / 02期
关键词：
financial ratios; SIC code; peer firms; comparable firms; multivariate nonparametric testing;
D O I：
10.1285/i20705948v6n2p186
中图分类号：
O21 [概率论与数理统计]; C8 [统计学];
学科分类号：
020208 ; 070103 ; 0714 ;
摘要：
To find peer firms is very important in several situations, for example in equity valuation for publicly traded firms, as well as for not publicly traded ones. Very often the pay of a chief executive officer (CEO) is set at the basis of a peer compensation group. Financial policies are often driven by a response to peers. It is a very common approach to use industry membership given by the SEC (United States Security and Exchange Commission) SIC (Standard Industrial Classification) code to form peer groups. In the paper the effectiveness of the SIC code for selecting comparable firms is evaluated through nonparametric testing for difference in firm financial ratios.
引用
收藏
页码：186 / 201
页数：16
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