Measuring Regulation

Documentation

The documentation for the data set from the paper

"Measuring the Cost of Regulation: A Text-Based Approach" (Calomiris, Mamaysky, and Yang 2020)

can be found in the documentation description file.

Earnings call data

The core earnings call data is here.

Mapping files

There are two mapping files. The first is the one we use in the paper. The second is from WRDS and contains more detailed information (company names, and SIC codes).

• This mapping file, from ciqCompanyId (earnings calls, Capital IQ) to gvkey (Compustat), is the one we use in the paper, and was provided to us by SP Global. The file can be downloaded here.

• Another mapping from ciqCompanyId to gvkey, which also contains dates indicating when the mapping is valid, as well as company name, and SIC codes. This mapping file is obtained from WRDS, and was augmented by us to add SIC codes. The file can be downloaded here. We did not use this file in the paper.

Word lists

The topic-word distributions from the Presentation and Q&A topic models:

• Presentation section

• Q&A section

List of regulatory words:

• Regulatory words

Acknowledgements

We thank the Columbia Data Science Institute for their financial support for this project. We also thank S&P Global Market Intelligence for allowing us to share the regulatory measures derived from their earnings call transcripts.