Center for Research in Securities Prices
Encyclopedia
The Center for Research in Security Prices (CRSP) is a provider of historical stock market
data. The Center is a part of the Booth School of Business at the University of Chicago
. CRSP maintains some of the largest and most comprehensive proprietary
historical database
s in stock market research. Academic researchers and investment professionals rely on CRSP for accurate, survivor bias-free information which provides a foundation for their research and analyses. As of 2006, CRSP claims almost 500 clients. The name is usually pronounced "crisp".
CRSP was founded in 1960 by James H. Lorie (professor of finance and director of research) and Lawrence Fisher (assistant professor of finance) of the University of Chicago, with a grant from Merrill Lynch, Pierce, Fenner & Smith
. Its goal was to provide a source of accurate and comprehensive data that could be used to answer basic questions about the behavior of stock markets. The first effort of the Center was the production of a database consisting of monthly stock prices on the New York Stock Exchange
for all common stock
s from 1926 to 1962. Dividends, shares outstanding
, capital changes, and delisting information was also included. Taken together, this data made possible the first comprehensive study of the rates of return on common stocks. Since then the database has been kept up to date to the present day, daily data has been expanded back to 1926, and other exchanges and financial instruments have been added.
CRSP's flagship databases include:
In partnership with Compustat
, CRSP provides the CRSP/Compustat Merged Database, and in partnership with the Ziman School of Real Estate at UCLA's Anderson School of Business, the CRSP/Ziman REIT Data Series.
Stock market
A stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
data. The Center is a part of the Booth School of Business at the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
. CRSP maintains some of the largest and most comprehensive proprietary
Proprietary software
Proprietary software is computer software licensed under exclusive legal right of the copyright holder. The licensee is given the right to use the software under certain conditions, while restricted from other uses, such as modification, further distribution, or reverse engineering.Complementary...
historical database
Database
A database is an organized collection of data for one or more purposes, usually in digital form. The data are typically organized to model relevant aspects of reality , in a way that supports processes requiring this information...
s in stock market research. Academic researchers and investment professionals rely on CRSP for accurate, survivor bias-free information which provides a foundation for their research and analyses. As of 2006, CRSP claims almost 500 clients. The name is usually pronounced "crisp".
CRSP was founded in 1960 by James H. Lorie (professor of finance and director of research) and Lawrence Fisher (assistant professor of finance) of the University of Chicago, with a grant from Merrill Lynch, Pierce, Fenner & Smith
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
. Its goal was to provide a source of accurate and comprehensive data that could be used to answer basic questions about the behavior of stock markets. The first effort of the Center was the production of a database consisting of monthly stock prices on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
for all common stock
Common stock
Common stock is a form of corporate equity ownership, a type of security. It is called "common" to distinguish it from preferred stock. In the event of bankruptcy, common stock investors receive their funds after preferred stock holders, bondholders, creditors, etc...
s from 1926 to 1962. Dividends, shares outstanding
Shares outstanding
Shares outstanding are common shares that have been authorized, issued, and purchased by investors. They have voting rights and represent ownership in the corporation by the person or institution that holds the shares. They should be distinguished from treasury shares, which is common stock held by...
, capital changes, and delisting information was also included. Taken together, this data made possible the first comprehensive study of the rates of return on common stocks. Since then the database has been kept up to date to the present day, daily data has been expanded back to 1926, and other exchanges and financial instruments have been added.
CRSP's flagship databases include:
- Common stocks on the NYSE from 1926, AMEXAmerican Stock ExchangeNYSE Amex Equities, formerly known as the American Stock Exchange is an American stock exchange situated in New York. AMEX was a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange. On January 17, 2008, NYSE Euronext announced it would acquire the...
from 1962, and NASDAQNASDAQThe NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
from 1972 - CRSP Indices
- NASDAQ and S&P 500S&P 500The S&P 500 is a free-float capitalization-weighted index published since 1957 of the prices of 500 large-cap common stocks actively traded in the United States. The stocks included in the S&P 500 are those of large publicly held companies that trade on either of the two largest American stock...
Composite Indices - NASDAQ and AMEX Industry Indices
- US Treasury bonds
- Survivor bias-free mutual funds
- Market capitalizationMarket capitalizationMarket capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
reports; - Proxy graphs for 10-KForm 10-KA Form 10-K is an annual report required by the U.S. Securities and Exchange Commission , that gives a comprehensive summary of a public company's performance...
SECUnited States Securities and Exchange CommissionThe U.S. Securities and Exchange Commission is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States...
filings - Other custom datasets
In partnership with Compustat
Compustat
Compustat is a database of financial, statistical and market information on active and inactive global companies throughout the world. The service began in 1962....
, CRSP provides the CRSP/Compustat Merged Database, and in partnership with the Ziman School of Real Estate at UCLA's Anderson School of Business, the CRSP/Ziman REIT Data Series.