Financial research databases: CRSP and WRDS
Link security histories to firms without losing time validity
CRSP supplies security-return and corporate-action research data, including active and inactive securities and permanent identifiers. WRDS is a research access and computing platform hosting many separately licensed datasets, not a single database. CRSP/Compustat Merged links market and company records through dated relationships. Current official CRSP product documentation is available through Morningstar’s research-data pages.
Use for security-return research or linked accounting-and-market panels when the institution has the necessary datasets as well as platform access. Verify linkage dates and subscriptions before assuming a joined sample is available.
Strengths
- Permanent security identifiers support longitudinal linkage
- Inactive-security coverage helps address survivorship when used correctly
Limitations
- Platform access does not imply access to every hosted dataset
- Many-to-many and time-varying links can duplicate or misassign records
Know the boundary
WRDS is an access platform; CRSP, Compustat and CCM are distinct products with their own entitlements and definitions.