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Weekly Subscribers Weekly Subscribers

  1. 1. EMDB 2000 Users Guide EMDB Emerging Markets Data Base
  2. 2. Version 7.0 (February, 2003) Copyright © 2000 Standard & Poor's The McGraw-Hill Companies 55 Water Street New York, NY 10041 U.S.A. • All rights reserved. May not be reproduced in whole • The denominations and geographical names in or in part by any means without the written consent of this publication are used solely for the convenience Standard & Poor's. of the reader and do not imply the expression of any opinion whatsoever on the part of Standard & • This information is based on data obtained from Poor's or other affiliates, concerning the legal status sources that the S&P considers to be reliable, but is of any country, territory, city, area, or of its not guaranteed as to accuracy and does not purport authorities, or concerning the delimitation of its to be complete. boundaries or national affiliation. • Although S&P is registered under the U.S. • S&P may, from time to time, have a financial Investment Advisers Act of 1940, this information interest in the securities mentioned or included in shall not be construed, implicitly or explicitly, as the calculation of the S&P/S&P/IFCI, containing any investment recommendations. This S&P/S&P/IFCG, or S&P/S&P/IFCG Frontier information does not constitute an offer of or an Indices. invitation by or on behalf of S&P to purchase or sell any of the shares mentioned, nor should it be • Any views expressed herein are those of the considered as investment advice. authors and do not necessarily represent the views of The McGraw-Hill Companies or Standard & Poor's. Published monthly in the United States of America
  3. 3. Contents Standard & Poor's 4 Report Generation The Emerging Markets Data Base Comparative Reports 22 Market Profiles 23 1 Introduction to EMDB 2000 Index Constituents 24 Introduction 2 Installation 3 5 Graph Generation Designing Graphs 26 2 Using EMDB 2000 Main Features 6 6 Database Update Selection Types 7 Updating 30 3 Data Retrieval Retrieving Data 10 Appendixes Selecting Groups 12 Linking to Market Data 13 1 S&P Index Base Periods and Dates of Selecting Stocks 14 Inclusion 32 Selecting Industry Data 15 2 EMDB Data Series Coverage 34 Data Windows 16 3 Currency Scales 35 Percent Changes 17 4 Glossary 36 Sorting Data 18 5 Abbreviations 38 Exporting Data 19 THE S&P INDICES AUGUST 1998
  4. 4. Standard & Poor's Standard & Poor's Using a sample of stocks in each market, EMDB calculates Indices of stock market performance Standard & Poor’s, a division of The McGraw-Hill designed to serve as benchmarks that are Companies, provides financial information, consistent across national boundaries. This analysis, advice, and credit ratings globally. eliminates the inconsistencies that make it difficult to compare locally-produced Indices with S&P's Index Services unit maintains a wide differing methodologies. Monthly Indices are range of investable portfolio indices, including the available from the end of 1975, weekly Indices S&P 1200, the world’s first investable global from the end of 1988, and daily Indices from equity index, the S&P 500 for the U.S., the S&P/ October 1995. TSE 60 for Canada, the S&P Euro and Euro Plus for Continental Europe, and the S&P/TOPIX 150 Investable indices were introduced in March 1993 for Japan. More than $800 billion is indexed to and are designed to meet the increasingly Standard & Poor’s indices globally. For sophisticated needs of international investors. information, visit www.standardandpoors.com. Adjusted to reflect the accessibility of markets and individual stocks for foreign investors, the S&P/S&P/ Founded in 1888, The McGraw-Hill Companies is IFCI (Investable) indices offer the ideal performance a leading information services provider meeting benchmark for both active and passive international worldwide needs in education, business, finance, investors. the professions and government. The corporation employs 16,500 people located in more than 400 In October 1995, S&P began calculating the offices in 32 countries. S&P/IFCG and S&P/IFCI Indices on a daily basis. On January 4, 2000, Standard & Poor’s In January 1996, S&P began adjusting the completed its acquisition of the International capitalization of index constituents to eliminate Finance Corporation’s indices of emerging cross-holdings. The adjustments eliminate markets stock performance as part of a broad, distortions caused by double-counting of share new strategic collaboration between the two capitalization, thereby reducing the weights of organizations. stocks and markets where cross-holding is prevalent. In November 1996, adjustments to Acquisition of the indices and the Emerging eliminate government holdings were introduced. Markets Data Base (EMDB) will expand the global coverage of Standard & Poor’s index The products of the Emerging Markets Data Base services business, already the foremost provider are available in computerized form and as of investable index products in the world. The publications. The data base provides three levels of EMDB, the first and the most comprehensive computerized data: comprehensive data on compilation of emerging markets information, individual stocks covered in all markets; data series covers 53 markets and more than 2,000 stocks. for each index computed; and data series for each More than $8 billion of assets are managed market covered. Subscribers either receive data against S&P's emerging markets index from EMDB on CD, download data from EMDB's operations. FTP server, or access data via on-line delivery from an EMDB distributor. Publications include the annual The Emerging Markets Data Base Emerging Stock Markets Factbook, monthly Emerging Stock Markets Review and The S&P EMDB serves as a vital statistical resource for Emerging Market Indices: Methodology, Definitions, the international financial community in its and Practices. investment and advisory work. Now in its second decade, the data base has gained recognition as the world's premier source for reliable and comprehensive information and statistics on stock markets in developing countries.
  5. 5. 1. Introduction to EMDB 2000 EMDB EMDB 2000 Users Guide
  6. 6. Introduction S&P’s Emerging Markets Data Base is pleased to add EMDB 2000 to its product line, a comprehensive information system using Windows NT® for data retrieval, graph design, report generation and more. The EMDB 2000 database contains the latest figures for all S&P indices—Global, Investable, Industry, and Frontier— and market data such as prices, corporate actions, and stock ID information. The system is easy to learn because its graphical interface is consistent from one selection window to the next. Once you have learned to use one database query, you can use that knowledge to run other queries within EMDB 2000. You can also run Microsoft Excel® at the same time you are using EMDB 2000 and share information between them. Requirements To effectively run EMDB 2000, the following software and hardware is recommended: • Microsoft Windows NT® 4.0, Windows 98®, Windows 2000®, Windows ME® or above. • A minimum of 200 MB of free disk space and a CD-ROM drive • A printer, if the user intends to print from EMDB 2000 Microsoft Excel® is optional, but will ease the transfer of data from EMDB 2000. EMDB 2000 2 USERS GUIDE
  7. 7. Installation Installation of EMDB 2000 is quick and easy. Both the system software and the data files reside on the EMDB 2000 compact disc. Installing the Program and Data Files This set of instructions assumes that your CD is drive D: and that you are installing the program on your C: drive. 1. Place the CD into your PC's CD drive 2. Using Windows Explorer, select the D: drive and double click on setup.exe. This procedure automatically installs the software necessary to run EMDB 2000. Setup.exe will ask you where you want to install the program and suggests a default location of C:EM. 3. Once the program has been installed, the data files need to be copied from the CD to your PC. In Windows Explorer, copy files in D:EMDATA to your PC's location C:EMDATA (provided you installed the software to C: EM). 4. Once the data files have been copied to C:EMDATA, highlight all of them and open "Properties" in the "File" menu in Windows Explorer. De-select the "Read-Only" box in the "Attributes" section of the "Properties" window. 5. Installation is complete. Creating an EMDB 2000 Shortcut Icon Once installed, you may want to create a shortcut icon on your Windows Desktop. To create a shortcut, use the following steps: 1. From the Windows Desktop, click the right mouse button once 2. From the "New" menu, select "Shortcut" 3. Click on "Browse" and select C:EM EM.EXE 4. Click on "Next" and proceed to name the program as you wish 5. Clicking on "Finish" will complete the shortcut process and leave you with an icon on your desktop EMDB 2000 3 USERS GUIDE
  8. 8. 2. Using EMDB 2000 EMDB EMDB 2000 Users Guide
  9. 9. Main Features EMDB 2000 is a complete information system for emerging markets data with comprehensive features for retrieving data, generating reports, and drawing graphs. There are four main parts to the EMDB system: Databases S&P Indices Country Index GICS Index Stock Data Stock-ID Stock Data Local Market Data Local Market Data Local Market Index Barra Global Estimates (TM)  optional subscription item Depositary Receipts Depositary Receipts-ID Depositary Receipts Data Reports Comparative Reports Market Profiles Constituent Reports Graphics A do-it-yourself system that enables users to design graphs using a self-driven selection menu. Several data series can be depicted using any combination of data for stocks, markets, regions, or industries. Maintenance This feature allows users to update data. Also, this feature allows users to specify where their copy of Microsoft Excel® resides so that EMDB 2000 can start the program and transfer data with the push of one button. Shown below is the initial selection window: EMDB 2000 6 USERS GUIDE
  10. 10. Selection Types EMDB 2000 is designed for simple pointing and clicking of a mouse. The layout of the program is consistent throughout, to allow for maximum speed and ease of use. Users can choose menus, commands, and/or options displayed in one of the following five selection types: Menu Bar Used to access the main menu and sub-menus, menu items are selected by single-clicking. The menu bar pictured on the previous page includes options for Database, Reports, Graphics and other options. Check Box These are primary options such as selecting monthly, weekly, or daily databases and for secondary options such as requesting "end of quarter data" or "end of year data." List Box List boxes are used to select items to be included in a query such as markets, stocks, industries and data fields,etc. Each item is selected by clicking on it. In order to select multiple items that are not consecutively located in the list box, hold down the Control key while selecting. If selecting multiple items that are listed consecutively, hold down the shift key and click on the first and last items in the series, all items in between will be selected. Drop Down Box Drop down boxes are used to select start and end dates when defining a query. "Smart" Button "Smart" buttons are usually located toward the bottom of selection screens and allow users to quickly perform a variety of popular selections such as selecting all markets or all data fields. "Smart" buttons are also available for the saving and loading of user-created macros. Menu Bar Drop Down Box Check Box List Box "Smart Button" EMDB 2000 7 USERS GUIDE
  11. 11. 3. Data Retrieval EMDB EMDB 2000 Users Guide
  12. 12. Retrieving Data Shown below is an S&P Index - Country Index selection window that appears after this database is chosen from the main menu. All data selection windows in the system have a similar format: the Market list box is shown on the left, the Data Field list box is in the middle, period list boxes are on the right, and the command "smart" buttons are along the bottom. The Output page can be seen as a "tab" on the top right-hand side of the active area. Once users have selected the parameters for their queries, they click on this tab to view query results. To view or retrieve data: 1. Select desired markets by clicking on them. Hold the Control key down while clicking on multiple names that are not consecutive, or hold the Shift key down while clicking on the first and last consecutive items wanted to select them as well as all in between. 2. Select desired index fields by the method described in 1. above. 3. Select desired time period from the From-To list boxes by clicking on the pull down menu of dates and clicking on the desired date. 4. The Output "Tab" should now be black, indicating that sufficient criteria have been selected to conduct a query. Click on the Output "Tab" to extract data. After selecting a market or index field, that item will remain highlighted in blue. Clicking on the item again, or selecting another item, will de-select the original item. Hold down the Control key and click on a selected item to remove only that item in cases where multiple items have been selected. Index field abbreviations are the same in all windows, with PR and TR short for price and total return, LC for local currency, MCAP for market capitalization, and VTRD referring to value traded. A complete list of abbreviations is included in the appendix section.
  13. 13. Retrieving Data (cont.) Clicking on the Output "Tab" retrieves index data values, as shown below: Once users have defined a query by selecting markets, data items, etc., the "save macro" "smart" button can be used to save the query for future use. The save macro "smart" button is located below the "Join Markets Database…" button on the lower right hand side of the selection screen and is marked by a floppy disk image. Once saved, a user can load a macro by clicking on the "smart" button directly to the left of the save macro button, marked by an open file image. Both saving and loading macros lead to a file dialog screen (see below) allowing users to specify file location. Be sure to leave the ".mix" extension in the "Files of type" field so that the system will recognize the file as a macro. EMDB 2000 11 USERS GUIDE
  14. 14. Selecting Groups Users can also select several markets in the Market list box rather than one at a time by pressing the Select Group "smart" button, as shown below. The Select Group button is the right-most "smart" button located directly below the country selection area. After clicking once on the desired group(s) and selecting "OK", EMDB 2000 will automatically highlight each market belonging to the selected group(s). EMDB 2000 12 USERS GUIDE
  15. 15. Linking to Market Data Users can combine data from the Market Data database with their queries in the S&P Country Index database by clicking on the "Join Markets Database…" button on the selection screen. EMDB 2000 13 USERS GUIDE
  16. 16. Selecting Stocks To retrieve data on individual stocks, users must first choose from three stock-level databases listed under "Databases" option on the tool bar; Stock ID, Stock Data or S&P Portfolio. For the purposes of this user guide, we will choose the most popular of these three, Stock Data. Once selected, users must choose to query monthly or weekly data. Next, select markets and data fields as described in the "Retrieving Data" section of this guide. After selecting the desired markets, users must click on the "Stocks…" button located below the markets selection area. Clicking on this button will bring up the stock selection screen shown below, from which users select the stocks to be included in the query. The same shift and control-key methods of selection used throughout EMDB 2000 work on this screen. Users can also use the "smart" buttons at the bottom of the screen to select all stocks, deselect all stocks, or select groups of stocks. Once selected, click the "Ok" button to return to the main selection screen and continue with the query. Note: When using a pre-saved macro to run a stock level query, users should not click on the "Stocks…" button. The stocks defined by the macro have already been selected and will be de-selected if the user goes to the stock selection screen. EMDB 2000 14 USERS GUIDE
  17. 17. Selecting Industry Data To review stocks within a specific industry sector, users should choose the Sector Index database from the options listed under the Country Index database. Users will be prompted to select specific industries from an Industry Index window as well as those data fields to be included. After selecting the date range, users select the Output "tab" to view query results.
  18. 18. Data Windows The following is an S&P Index data window—in this instance, what you would see after selecting Chile from the S&P Index Country Index database and several Index Field options. The top of the window contains a series of "smart" buttons for manipulating the data presented. Some "smart" buttons are already in "active" mode and appear in clear black lettering. Other "smart" buttons are "inactive" and appear gray. The reason for this differentiation is that for some "smart" buttons to work, a column of data must be selected. Selecting a column is easy—simply double click on the column title with the mouse—the selected column will turn yellow. After selecting a column, all "smart" buttons should be "active." The "smart" buttons are easy to use—they each have an easily recognizable graphic on them and a dialog box pops up containing a description of what each does when users put the mouse cursor over the button. "Smart" button features range from simply changing the number of decimal places displayed, to sorting and graphing functions.
  19. 19. Percent Changes The following display shows a browse window after the "%Change" option is selected (Monthly Percent Changes in this case). Note that whether or not users have selected a column, the %Change button will be "active" and will convert all columns to percentages. (Note: the data for the first observation in a series viewed as % change will always be zero as there is no prior data point from which to calculate a change.)
  20. 20. Sorting Data Users can sort data within the browse window by choosing one of several sort options. The Multiple Options Sort "smart" button will always be active when viewing query results. Selecting this button will allow users to sort query results in ascending or descending order according to users' specified column order. Alternatively, users can double click on a column to select it and then sort only that column. In any case, the sort options work much the same as in popular spreadsheet programs.
  21. 21. Exporting Data Users can export any retrieved data into a variety of formats, including Excel®, Lotus®, ASCII, and DBF. Displayed below is the Export window you would see after selecting the Export menu item. After selecting the desired export format and pressing the Ok button, you will be asked to select a path and enter a filename for the exported file. The system will then automatically save the data in the chosen format.
  22. 22. 4. Report Generation EMDB EMDB 2000 Users Guide Comparative Reports
  23. 23. The Report menu in EMDB 2000 allows users to quickly produce tables similar to those that appear in EMDB's monthly publications. In addition, the system enables users to create Market Profiles and Constituent Reports. Time series reports are customized to cover seven months of data from the period selected by users. Shown below is a comparative reports window, displayed whenever users selects the Comparative Reports item from the Report menu. To generate a report, users can either highlight the desired report and month and press the OK button, or double click on the report name. Users can also choose the method of report delivery. Preview, To Print and To Excel are three options available to users. The preview mode includes zoom features for easier on-screen viewing and has a print button which allows users to print the page without having to exit the preview mode and re-enter the report in print mode. 21 INDEX METHODOLOGY EMERGING MARKETS DATA BASE
  24. 24. Market Profiles The following window will appear after selecting Market Profiles from the Reports option. From here, users can select the market(s) to be included in the profile and view, print, or send this profile to Excel®. 22 INDEX METHODOLOGY EMERGING MARKETS DATA BASE
  25. 25. Index Constituents Shown below is the Constituents Report window from the Reports option. Users can produce the S&P index constituents for desired markets by selecting individual markets. Files can be previewed, printed, or sent to Excel®. 23 INDEX METHODOLOGY EMERGING MARKETS DATA BASE
  26. 26. 5. Graph Generation EMDB EMDB 2000 Users Guide Designing Graphs
  27. 27. One of the most useful features of EMDB 2000 is graph generation. The system enables users to design and draw graphs using any combination of data from the index, stock, or industry databases. The system recalculates all selected data series to begin with a base of 100 and automatically adjusts stock price series for corporate actions. The Graphics Manager window works like all other selection screens in EMDB 2000 with regard to how the query parameters are selected by users. The data available for graphing corresponds to what is available in the database. For example, monthly data is available for all three databases, index, stock and industry. Weekly data is available from both index and stock databases and daily data is available only from the index database. (Note: although multiple items can be graphed together, users must select and define them one-by-one from the Graphics Manager screen.) EMDB 2000 25 USERS GUIDE
  28. 28. Designing Graphs After selecting a database, users must select the items to be graphed. Since different data fields can be plotted on the same graph, each country, stock or industry to be plotted must be selected independently. After making a selection, users must click on the "Add Series" button. Then, after all desired series have been "added," users need to click on the "Output Selections" tab to define the date range to be graphed. This page displays all series selected and offers users the opportunity to remove a series from the query. EMDB 2000 26 USERS GUIDE
  29. 29. Designing Graphs Once the "Output Selections" have been made, users can click on the "Graph" tab to view the resulting graph. The graph will be presented with solid lines differentiated by color. All aspects of the graph can be modified, including line style and color, in much the same way as in popular spreadsheet software. Users need only double click on the item to be modified and proceed to make changes. Also, by clicking on a line, users can view the data table generated by EMDB 2000 prior to plotting the graph. EMDB 2000 27 USERS GUIDE
  30. 30. 6. Database Update EMDB EMDB 2000 Users Guide Updating
  31. 31. EMDB 2000 is designed to update itself via the "Maintenance, Update" selection of the software. However, users must first take delivery of the update files. Taking delivery of update files: EMDB 2000 users typically take delivery of update files by accessing the EMDB 2000 FTP server and downloading the files to their PC. An IP address for the server is provided to users based on their subscription package. For those users who do not have FTP access, arrangements can be made to send files via e-mail. (A list of the files that are delivered for typical subscriptions can be found on the following page.) Updating EMDB 2000: 1. Detach the executable files from the EMDB 2000 server or from e-mail to your PC's hard drive. 2. Using Windows Explorer, double click on the executable files you detached to decompress them. 3. Open EMDB 2000 and select "Maintenance" from the toolbar and then click on "Update" 4. EMDB 2000 will prompt you to tell it the location of the files you just decompressed. Highlight the directory into which you detached and decompressed the data files and click on "Select," EMDB 2000 will proceed to update your database. What files are involved in updating EMDB 2000 ? EMDB 2000 update files are made available via FTP and e-mail. The files are posted as compressed executable files that need to be decompressed on users' hard drives before updating EMDB 2000. Monthly update files are available after 8:00 P.M. EST on the last day of each month* while weekly files are available after 8:00 P.M. EST every Friday. The following is a list of files available to users based on type of subscription. Index Data Clients Stock Data Clients Monthly Subscribers Monthly Subscribers mix.exe, mmd.exe monthly.exe (contains mix.exe, mmd.exe, stock files) stockid.exe (contains an update of stock ID data) Weekly Subscribers Weekly Subscribers mix.exe, mmd.exe, wix.exe monthly.exe (contains mix.exe, mmd.exe, stock files) weekly.exe (contains wix.exe and stock files) stockid.exe (contains an update of stock ID data) Daily Subscribers dix.exe * Note: Monthly Frontier Market data is not available until after 8:00 P.M. EST on the second business day after month end. Users who update monthly data before this time will need to update their systems again after the second business day if they want current Frontier Market data. EMDB 2000 29 USERS GUIDE
  32. 32. Appendices EMDB EMDB 2000 Users Guide Appendix 1: S&P Index Base Periods and Dates of Inclusion
  33. 33. Market Coverage Begins: Global Indices (S&P/IFCG) Investable Indices (S&P/IFCI) Date of inclusion Date of inclusion Base Comp. Lat Amer Asia EMEA Base Comp. Lat Amer Asia EMEA Monthly Weekly Daily Period Index Index Index Index Period Index Index Index Index Latin America Argentina (213)* Dec-75 Dec-88 Oct-95 Dec-84 Dec-84 Dec-84 - - Dec-88 Dec-88 Dec-88 - - Brazil (223) Dec-75 Dec-88 Oct-95 Dec-84 Dec-84 Dec-84 - - Dec-88 Dec-88 Dec-88 - - Chile (228) Dec-75 Dec-88 Oct-95 Dec-84 Dec-84 Dec-84 - - Dec-88 Dec-88 Dec-88 - - Colombia (233) Dec-84 Dec-88 Oct-95 Dec-84 Dec-84 Dec-84 - - Feb-91 Feb-91 Feb-91 - - Mexico (273) Dec-75 Dec-88 Oct-95 Dec-84 Dec-84 Dec-84 - - Dec-88 Dec-88 Dec-88 - - Peru (293) Dec-92 Dec-92 Oct-95 Dec-92 Jan-94 Jan-94 - - Dec-92 Jan-94 Jan-94 - - Venezuela (299) Dec-84 Dec-88 Oct-95 Dec-84 Dec-84 Dec-84 - - Jan-90 Jan-90 Jan-90 - - Asia China (520) Dec-92 Dec-92 Oct-95 Dec-92 Oct-95 - Oct-95 - Dec-92 Oct-95 - Oct-95 - India (534) Dec-75 Dec-88 Oct-95 Dec-84 Dec-84 - Dec-84 - Nov-92 Nov-92 - Nov-92 - Indonesia (536) Dec-89 Sep-90 Oct-95 Dec-89 Dec-89 - Dec-89 - Sep-90 Sep-90 - Sep-90 - Korea (542) Dec-75 Dec-88 Oct-95 Dec-84 Dec-84 - Dec-84 - Jan-92 Jan-92 - Jan-92 - Malaysia (548) Dec-84 Dec-88 Oct-95 Dec-84 Dec-84 - Dec-84 - Dec-88 Dec-88 - Dec-88 - Pakistan (564) Dec-84 Mar-91 Oct-95 Dec-84 Dec-84 - Dec-84 - Mar-91 Mar-91 - Mar-91 - Philippines (566) Dec-84 Dec-88 Oct-95 Dec-84 Dec-84 - Dec-84 - Dec-88 Dec-88 - Dec-88 - Sri Lanka (524) Dec-92 Dec-92 Oct-95 Dec-92 Jan-94 - Jan-94 - Dec-92 Jan-94 - Jan-94 - Taiwan, China (528) Dec-84 Dec-88 Oct-95 Dec-84 Dec-84 - Dec-84 - Jan-91 Jan-91 - Jan-91 - Thailand (578) Dec-75 Dec-88 Oct-95 Dec-84 Dec-84 - Dec-84 - Dec-88 Dec-88 - Dec-88 - Europe Czech Republic (135) Dec-93 Dec-93 Oct-95 Dec-93 Jan-96 - - Dec-95 Dec-93 Jan-96 - - Jan-96 Greece (174) Dec-75 Dec-88 Oct-95 Dec-84 Dec-84 - - Dec-95 Dec-88 Dec-88 - - Dec-88 Hungary (176) Dec-92 Dec-92 Oct-95 Dec-92 Apr-94 - - Dec-95 Dec-92 Apr-94 - - Apr-94 Poland (180) Dec-92 Dec-92 Oct-95 Dec-92 Apr-94 - - Dec-95 Dec-92 Apr-94 - - Apr-94 Russia (183) Dec-95 Dec-95 Dec-95 Dec-95 Jan-97 - - Dec-95 Feb-97 Nov-97 - - Nov-97 Slovakia (184) Dec-95 Feb-97 Feb-97 Dec-95 Nov-97 - - Dec-95 Feb-97 Nov-97 - - Nov-97 Turkey (186) Dec-86 Dec-88 Oct-95 Dec-86 Dec-86 - - Dec-95 Aug-89 Aug-89 - - Aug-89 Mid East/Africa Bahrain (419) Dec-98 Dec-98 Dec-98 Dec-98 Nov-99 - - Nov-99 - - - - - Egypt (469) Dec-95 Dec-95 Dec-95 Dec-95 Jan-97 - - Dec-95 Feb-97 Nov-97 - - Nov-97 Israel (436) Dec-96 Jan-97 Feb-97 Dec-96 Nov-97 - - Dec-95 Dec-96 Nov-97 - - Nov-97 Jordan (439) Dec-78 Dec-88 Oct-95 Dec-84 Dec-84 - - Dec-95 Dec-88 Dec-88 - - Dec-88 Morocco (686) Dec-95 Dec-95 Dec-95 Dec-95 Jan-97 - - Dec-95 Feb-97 Nov-97 - - Nov-97 Nigeria (694) Dec-84 Jul-93 Oct-95 Dec-84 Dec-84 - - Dec-95 - - - - - Oman (449) Dec-98 Dec-98 Dec-98 Dec-98 Nov-99 - - Nov-99 - - - - - Saudi Arabia (456) Dec-97 Dec-97 Dec-97 Dec-97 Nov-98 - - Nov-98 - - - - - South Africa (696) Dec-92 Dec-92 Oct-95 Dec-92 Apr-95 - - Dec-95 Dec-92 Apr-95 - - Apr-95 Zimbabwe (698) Dec-75 Jul-93 Oct-95 Dec-84 Dec-84 - - Dec-95 Jun-93 Apr-94 - - Apr-94 Note: S&P index country codes are shown in parentheses.
  34. 34. Appendix 1 (cont.) Market Coverage Begins: Global Indices (S&P/IFCG) Investable Indices (S&P/IFCI) Date of inclusion Date of inclusion Base Comp. Lat Amer Asia EMEA Base Comp. Lat Amer Asia EMEA Monthly Weekly Daily Period Index Index Index Index Period Index Index Index Index Regions Composite Dec-84 Dec-88 Oct-95 Dec-84 - - - - Dec-88 - - - - Latin America Dec-84 Dec-88 Oct-95 Dec-84 - - - - Dec-88 - - - - Asia Dec-84 Dec-88 Oct-95 Dec-84 - - - - Dec-88 - - - - EMEA Dec-75 Dec-88 Oct-95 Dec-95 - - - - Dec-88 - - - - Europe Dec-95 Dec-95 Dec-95 Dec-95 - - - - Dec-95 - - - - Eastern Europe Dec-95 Dec-95 Dec-95 Dec-95 - - - - Dec-95 - - - - Mideast/Africa Dec-95 Dec-95 Dec-95 Dec-95 - - - - Dec-95 - - - - Frontier Markets Bangladesh (1513) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Botswana (1616) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Bulgaria (1124) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Cote d’Ivoire (1622) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Croatia (1132) Dec-97 - - Dec-97 Apr-98* - - - - - - - - Ecuador (1248) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Estonia (1149) Dec-97 - - Dec-97 Apr-98* - - - - - - - - Ghana (1652) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Jamaica (1343) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Kenya (1664) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Latvia (1178) Dec-97 - - Dec-97 Apr-98* - - - - - - - - Lebanon (1446) Dec-98 - - Dec-98 Sep-99* - - - - - - - - Lithuania (1179) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Mauritius (1684) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Namibia (1728) Dec-98 - - Dec-98 Sep-99* - - - - - - - - Romania (1181) Dec-97 - - Dec-97 Apr-98* - - - - - - - - Slovenia (1185) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Trinidad & Tob. (1369) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Tunisia (1744) Dec-95 - - Dec-95 Dec-95* - - - - - - - - Ukraine (1192) Dec-97 - - Dec-97 Apr-98* - - - - - - - - * Date of inclusion in Frontier Composite.
  35. 35. Appendix 2: EMDB Data Series Coverage Included Not included S&P Stock Series S&P Index Series S&P Market Series Daily Weekly Monthly ID File Daily Weekly Monthly Monthly Annual Identifiers Name          S&P code          Dates added/deleted          Industry/GICS          SEDOL          Stock class          Stock type          Ticker symbol          Trading Data Keydate/last trading          Number of days traded          Turnover ratio          Value traded          Volume traded          Prices Closing share price          High/low share price          Capital adjustment rate          Price indices (LC and US$)          Total return indices (LC and US$)          Local market index          Dividends Dividend paid/yield          Ex-date          Size Market capitalization          Number of listings          Shares outstanding          New Issues Closing date          Shares created          Value of new equity issues          Rights Issues Ex-date          Shares created          Subscription price          Splits Shares created          Ex-date          Valuations Price/book value          Price/earnings          Currency Exchange rate to US$          Currency scale          Investability Investable weight factor          Financial Data Book value          Depreciation          Earnings          Report date          Total common shares outstanding          Note: This table is a general representation only of data available in the various S&P data series. Data field headings may differ from those listed above, and some data sets may contain fields not listed. Contact EMDB for more information. EMDB 2000 34 USERS GUIDE
  36. 36. Appendix 3: Currency Scales The Currency Scale field was added to the EMDB 2000 weekly and monthly stock files and monthly market data files to adjust for currency reforms in some emerging markets covered by S&P. For instance, on June 30, 1994, Brazil converted its currency from the cruzeiro real (CR$) to the real (R$). All data previously denominated in CR$ required conversion to R$ to maintain consistency within the data basethe column titled "Currency Scale" does this, converting prior units of currency to current units. The value entered into this column for Brazil's data files starting July 1, 1994, is 1.000; between December 1988 and June 30, 1994, the value is 2,750. This signifies a conversion rate of CR$2,750 per real times any currency scale already listed in this column (from previous currency changes). For example, Brazil's currency scale for 1988 becomes 2,750 times 1,000 or 2,750,000. Values expressed in local currencies must be divided by the currency scale to reflect current values. Conversion rates in the data sets permit an analysis to be done in dollar terms without any adjustment to local currency figures. Questions on the use and adjustment of currency scales should be directed to Alka Banerjee, at (212) 438-3536 or via fax at (212) 438-3523. EMDB 2000 35 USERS GUIDE
  37. 37. Appendix 4: Glossary Capital adjustment rate: The capital adjustment rate (CAR) represents the factor by which a change in a share's price in a period can be explained by a change in capitalization, such as a stock split, stock dividend or a rights issue. It is used to calculate adjusted price per share over a time period. Closing price: Price per share of the stock at the end of the "Last Trading Date", expressed in local currency. These are actual prices at the time, adjusted for changes in currency (for example, from cruzados to cruzeiros) but not for changes in capitalization (for example, a two-for-one split). Currency scale: Scale used to convert prior units of currency into current units. See p. 45 for more detail. Date added/deleted: Date that a stock was added or deleted (YYMM). Days traded: Total number of days during the period that stocks traded on the exchange. Dividend: The part of a company's profits that is distributed to shareholders, usually in cash, expressed in local currency. See also stock dividend. Dividend ex-date: The date from which shares no longer carry rights to the announced dividends, expressed in YYMMDD. Dividend yield: Total cash dividends paid as a percent of market capitalization at the end of the period. Exchange rate per US$: The exchange rate at the end of the period. See the S&P Index Methodology for details on how exchange rates are selected. Foreign investable weight factor: The degree-open factor for a market, representing the degree to which foreign investors may participate in the market. See the S&P Index Methodology for more details. S&P Global (S&P/IFCG) Index: The S&P index that represents stock market performance without taking into account restrictions on foreign investors. S&P Investable (S&P/IFCI) Index: The S&P index that takes into account restrictions on foreign investors, ISIN: International Securities Identification Number. Keyday-Friday: The date of Friday of each week, regardless of the real last trading day. Last trading date: The date of the real last trading day of the week on or before Friday. If the exchange is open on Saturday, this is Friday's date and the data are for Friday, not Saturday. Listed companies: Total number of companies listed on the exchange at the end of the period. Note that companies can list more than one class of stock. Listed issues: Number of listed issues at the end of the period. Some companies may list more than one class of stock. Local market index: The level of the principal locally calculated market index at the end of the period Market capitalization: Also known as market value. Market value of all listed companies at the end of the period, expressed in millions of both local currency and U.S. dollars. The market value of a company is the share price times the number of shares outstanding. Exception: In Indonesia, some companies do not list on the exchange all the outstanding shares. In this data base, the market capitalization for these companies is based on the listed shares. Market capitalization of S&P index: The total market capitalization of stocks in the S&P index at the end of the period, expressed in millions of U.S. dollars. Market code: Code for market as assigned by the International Monetary Fund (IMF). New equity, number of issues: Total number of stock issues, made for cash, regardless of whether they are listed on the stock exchange. New equity, value of: Total value of public offerings and rights issues during the period, expressed in millions of local currency, excluding stock dividends or bonus shares that do not raise cash. New issue, closing date: The date that newly issued shares begin trading, expressed in the form YYMMDD. EMDB 2000 36 USERS GUIDE
  38. 38. Appendix 4 (continued) New issues, shares created by: Total number of shares created by new issue of the same class of stock, including those created through the conversion of debentures or bonds, expressed in millions of shares. A negative number reflects a repurchase of shares by the company or an adjustment by the S&P to correct for the under-subscription of rights issues or for minor revisions in stock dividend rates. P/BV ratio: Price/book value ratio. The ratio of stock price to book value per share. Generally calculated as the closing price (in local currency) divided by the latest reported net worth per share (in local currency). In markets with high inflation, S&P may make adjustments to net worth for inflation. P/E ratio: Price/earnings ratio. The ratio of stock prices to earnings per share, generally calculated as the closing price (in local currency) divided by the latest reported 12 month earnings per share (in local currency). In markets with high inflation, S&P may make adjustments to earnings to account for inflation. Rights issue: An offer by a company to its shareholders to purchase additional shares, usually in a fixed ratio to the number of shares currently held. Rights issue, ex-date of: The ex-rights date, expressed in YYMMDD. Rights issue, pre-issue price of: The market price of a share immediately prior to the issue of the shares created by rights, expressed in local currency. Rights issue, shares created by: Total number of shares created by rights issues during the period, expressed in millions of shares. Rights issue, subscription price: The subscription price per share of rights issued during the period, expressed in local currency. Sector code and SIC: Standard Industrial Classification codes of the U.S. government. SEDOL: Stock Exchange Daily Official List codes used by the London Stock Exchange. Shares outstanding: Total number of shares for a class of stock outstanding at the end of the period, expressed in millions of shares. Exception: In Indonesia, some companies do not list on the exchange all the outstanding shares. In this data base, the number of shares outstanding reflects only the listed shares. Shares traded: Total number of shares traded during the period, expressed in millions of shares. Splits, ex-date for: The date that shares begin trading in split form, expressed in YYMMDD. Splits, shares created by: Total number of shares created by stock dividends, splits, or bonus issues during the period, expressed in millions of shares. A negative number reflects a reverse split. Stock class: The class of a specific stock issue, which varies between markets. Examples: ON, B2. A class of "." means common stock with no further classification. Stock code: This code is a combined company and stock code to enable users to see at a glance multiple stocks of the same company. Stock codes are in the form nnn.n, with the company code to the left of the decimal and the individual security codes to the right of the decimal, indicating the relationship of several securities to a single parent. Example: The data base includes two classes of shares for the Brazilian company Acesita. The codes are 100.1 for Acesita ON and 100.2 for Acesita PN. Stock dividend: Shares created by the conversion of part of a company's reserves into issued capital, which is distributed to shareholders. Stock type: Identifies the class of stock as either common (C) or preferred (P). Stocks, number of in S&P index: The total number of stocks (not companies) in the S&P index at the end of the period. The index may include more than one class of a company's stock. Ticker symbol: Stock code assigned by the local stock exchange. Turnover ratio: Total value of shares traded during the period divided by the average market capitalization for the period, calculated in local currency. Average market capitalization is calculated as the average of the end-of-period values for the current period and the previous period. Value traded: Total shares traded during the period expressed in millions of local currency and U.S. dollars. Volume traded: Total shares traded during the period expressed in millions of shares. EMDB 2000 37 USERS GUIDE
  39. 39. Appendix 5: Abbreviations The following is a listing of frequently used abbreviations used in EMDB 2000: DIV_YLD, D_YLD: dividend yield Ex-date: ex-dividend date EXR/US$: exchange rate in U.S. dollars S&P/IFCG: S&P Global index S&P/IFCI: S&P Investable index LC: local currency LCIX: local stock index MARKET_CAP, MCAP: market capitalization NO_STK, NO.STK: number of stocks P/BV: price/book value ratio P/CF: price/cash flow ratio P/E: price/earnings ratio PR: price index TR: total return index US: U.S. dollars VTRD: value traded EMDB 2000 38 USERS GUIDE