Compustat versus XBRL Data: Evidence on Data Coverage and Quality

• In Event: Emerging Research Session I: Issues in Auditing, Information Systems and Public Interest

Abstract

Many claims have been made regarding data quality, coverage and relevance of data from XBRL filings. We plan to execute a comprehensive comparative analysis of Compustat and XBRL data to provide empirical evidence regarding the relative usefulness of XBRL data and Compustat data for investors and researchers. We have completed the data collection and started the data analysis. Preliminary findings reveal significant differences between the contents of the two data sources. These differences could have important implications for research that uses data from either source.

Authors

• Barbara Ann Lougee, University of San Diego

• Christine Tan, Fordham University