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The Fresard, Hoberg and Phillips vertical textual network industry
relatedness classification (VTNIC) is based on the text explaining the
commodities in the BEA input-output tables alongside the text firms use to
describe their businesses and product offerings in annual public-firm 10-K
disclosures. The VTNIC is identified at the individual firm level and firm
pair-wise level by assessing the overlap between firms’ product descriptions
and the actual product words and descriptions used by the BEA in their
input-output tables (these descriptions facilitate firms reporting the
products they produce to the BEA).
The VTNIC database is best
described through its two parts (two files). The first (file1) is a firm-year
panel database containing information about each firm’s own vertical
integration. This is based on
assessing the extent to which each firm’s product vocabularies are vertically
related to other product vocabularies used by the same firm. The second (file2) is a dynamic
firm-pair-year network summarizing the potential for vertical relatedness
between firm pairs. Because the data
is not based on any information about observed flows of goods, but rather is
based on BEA vocabularies known to be vertically related, the data in file 2
(pairwise scores) is best interpreted as measuring the potential for vertical
relatedness for firm pairs rather than the actual vertical trade flows
between specific firm pairs.
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Welcome
to the Fresard-Hoberg-Phillips Vertical Relatedness Data Library
<<
NEW: Data extended to 2021 (overall coverage now 1989 to 2021)! >>
Data provided
by Laurent Fresard
(Universita della Svizzera italiana (USI),
Swiss Finance Institute),
Gerard Hoberg
(University of Southern California),
and Gordon Phillips
(Dartmouth College)
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* Please cite the following paper when using this
data. Details regarding the creation
and use of this data are documented in the paper.
Vertical Integration Data
(vertical integration for each firm in each year):
* The extent of vertical integration is identified at the individual
firm level by identifying the overlap between firm’s product descriptions
and the actual product
words and descriptions of products
that the BEA provides as part of their input-output tables to allow firms
to report the products they produce to the BEA.
** Please review
all details in the readme file before using the database.
Pairwise Vertical Relatedness
Network: Basic 10% Granularity
Version
* The above basic version
includes the 10% of all firm pairs with highest potential for vertical
relatedness.
** Please review
all details in the readme file before using the database.
Pairwise Vertical Relatedness
Network: Full Granularity
* The above is a very large
database containing all relatedness scores for all firm pairs in our sample
in every year, including pairs with very little or no potential for
vertical relatedness.
** Please review all
details in the readme file before using the database.
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