A Note on Capital IQ's Credit Line Data
对比Capital IQ的信贷额度数据与手工收集数据，发现缺失值普遍导致低估企业信贷额度重要性，且报告数据常与实际情况不符，提出修正方法并评估影响。
Abstract Empirical work in finance is increasingly using Capital IQ's detailed data on capital structure. We compare the Capital IQ credit line data to hand‐collected data for a random sample of firms. Missing values in Capital IQ are prevalent, so the data set underreports the importance of corporate credit lines. When data are reported, Capital IQ often differs from hand‐collected credit line activity. We suggest methods for correcting the errors in the Capital IQ data, note which portions of the data are most reliable, and quantify the effects of Capital IQ's underreporting by examining the tradeoff between cash and lines of credit.