Business Research for "Non-Business" Librarians

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Business Research for “Non-Business”

LibrariansSLA Conference – Nashville

June 9, 2004Helen KatzManager

Research & Information ServicesOntario Ministry of Finance

Outline

• Business and Management Topics• People• Industry Codes• Companies• Industries

Business and Management Topics

• Terminology• Sources

Terminology

• Dictionaries• Google – define function (still need

to evaluate sources) Example:

Define: initial public offering

Sources of Management Information

• ABI/Inform Proquest – Dialog, Factiva, Lexis, Firstsearch

• Business and Management Practices - Dialog

• Business Periodicals Index (Wilson Business Abstracts) – Firstsearch, Dialog

• Canadian Business and Current Affairs (CBCA) – Dialog, FPInfomart

 

Proquest - ABI/Inform Classification Codes

9110 Company specific9120 Product specific9150 Guidelines9160 Biographical9510 Multinational companies9520 Small business9540 Nonprofit institutions

People

• Biographical sources• Regulatory filings• News & magazine articles

People

• Company officers• Directors

People Sources

• Company web sites• Marquis Who’s Who - Dialog• Standard & Poor’s Register of

Corporations, Directors, and Executives – Dialog, Lexis

• 10-K, Proxy statement

• News articles from business periodicals, national or local newspapers – Dialog, Lexis, Factiva

Industry Codes

• NAICS – North American Industrial Classification System

http://www.census.gov/epcd/naics02/

http://www.statcan.ca/english/Subjects/Standard/naics/2002/naics02-index.htm

• SIC – Standard Industrial Classification

Other Industry Codes

• Product Codes• Trade Codes

• International Harmonized Commodity Description and Coding System (HS) is used for classification of foreign trade

Companies

• Public or Private• Large Companies• Financial Information• Regulatory Filings

Basic Company Information

• Company address• Officers and directors• Background/history• Financial• Investment/stock• Corporate families• Bankers/Accountants/Lawyers

Basic Company Sources• D & B Million Dollar Directory: America’s

Leading Public & Private Companies - Dialog• D & B America’s Corporate Families - Dialog• D & B Principal International Businesses -

Dialog• D & B Canadian Key Business Directory - Dialog• Standard & Poor’s Register of Corporations,

Directors, and Executives – Dialog, Lexis• Private company reports – Lexis

• Specialized directories – by geography or industry

 

Companies

• Private company does not sell securities (shares) to the public• State registration

• Public company sells securities to the public• Has greater disclosure responsibilities

Companies in the U.S.

• 5,657,774 U.S. firms (2001 Statistics of U.S. Businesses from County Business Patterns)

• 2,750 companies listed on New York Stock Exchange (2004)

• 3,300 companies listed on NASDAQ• 10,000 public companies on Mergent

Large Companies

• Fortune 1000• Forbes 2000: The World’s Leading

Companies• Financial Post 500• Canadian Business Investor 500• ROB Top 1000 (Globe & Mail)

Fiscal Year

• Full year of operation• Date to end the year is set for

financial purposes• Often December 31

• for retail – January 31 (or 52 weeks ending early January)

Financial Statements

Six components: Auditor’s Report Earnings Statement Balance Sheet Retained Earnings Statement of Changes in Financial

Position Notes to Financial Statements

Auditor’s Report

• Generally Accepted Accounting Principles (GAAP)• U.S., Canadian, International

• Opinion of auditor

Earnings Statement

• Income Statement, Statement of Revenue & Expense, Profit Statement, Results of Operations

• Operating Income – earned from operations of company

• Other Income – investment income

• Money earned & spent over the course of the fiscal year

Earnings Statement

Revenue from Sale of Goods Expenses incurred from Sale of

GoodsOperating Income

Non-operating IncomeIncome before TaxesIncome TaxesNet Income

Balance Sheet

Three parts:AssetsLiabilitiesShareholders’ Equity

Snapshot at the end of the fiscal year

Assets

What is owned by a company• Cash & investments• Inventories• Property (land & buildings)• EquipmentWhat is owing to the company• Accounts receivable

Liabilities

What a company owes• Payments• Loans• Bonds

Definition of Current Assets and Current

Liabilities

Shareholders’ Equity

• Shareholders’ ownership or investment in company

• Capital stock• Earnings retained (Cumulative

retained profit)

Difference between value of capital stock and market capitalization

Retained Earnings

• Link between Earnings Statement & Balance Sheet

• Cumulative profit

• Also known as Consolidated Statement of Shareholders’ Investment

Retained Earnings

Retained Earnings, Beginning of Period

Net Earnings for the Period

Dividends Declared

Retained Earnings, End of Period

Statement of Changes in Financial Position

• Cash flow statement• Shows how cash is generated &

spent• Certain items are on financial

statement as a cost, but there is no money spent

Statement of Changes in Financial Position

OperationsInvestmentFinancing

Increase (Decrease) in CashCash, at Beginning of PeriodCash, at End of Period

Annual Report/ 10-K

• Management Discussion & Analysis• Auditor’s Report• Financial Statements• Notes to Financial Statements

• 10 Year Summary (usually)• Promotional/additional material in

annual report

Quarterly Report

• Unaudited financial statements• Comparison to previous quarter and to

same quarter previous year• Interim management discussion &

analysis

• Proforma financial statements• EBITDA (Earnings before interest,

taxes, depreciation, and amortization)

Proxy Statement

• Announcement of annual general meeting

• Selection of board of directors, auditors• Provides details of executive

compensation• Lists major shareholders (over 5% in

U.S.; over 10% in Canada)

 

 

1000 Nicollet MallMinneapolis, Minnesota 55403

  

  

PROXY STATEMENTANNUAL MEETING OF SHAREHOLDERS

May 19, 2004  

  

        The Board of Directors of Target Corporation solicits the enclosed proxy for the Annual Meeting of Shareholders to be held at The Children's Theatre, 2400 Third Avenue South, Minneapolis, Minnesota, on Wednesday, May 19, 2004, at 9:30 a.m., Central Daylight Time, and for any adjournment thereof.

GENERAL INFORMATION ABOUT THE MEETING AND VOTING What is the purpose of the Annual Meeting?         At our Annual Meeting, shareholders will act upon the matters described in the accompanying notice of meeting, including the election of five directors, appointment of the Corporation's independent auditors and approval of the Target Corporation Long-Term Incentive Plan. In addition, our management will report on the performance of the Corporation during fiscal 2003 and respond to questions from shareholders.

Who may vote?         We have one class of voting shares outstanding. Only shareholders of record of our Common Stock at the close of business on the record date, March 22, 2004, are entitled to receive notice of the Annual Meeting and to vote the shares of Common Stock that they held on the record date, at the meeting, or any postponement or adjournment of the meeting. As of the record date for the Annual Meeting, each share of Common Stock had one vote on each matter to be voted upon.

Insider Trading

• Rules and regulations for directors and officers of companies regarding the sale or purchase of company stock

Disclosure

• Prompt disclosure of material information• Definition of material

• Move to plain language• Fair Disclosure (FD) regulation• Sarbanes-Oxley Legislation

• Executive certification of disclosure• Shortening of reporting deadlines

Common U.S. Filing Documents

• 10-K – annual filing document• 10-Q - quarterly filing document• 8-K - change in material status• 14- - proxy statement• S- - registration statement• 13-D - securities ownership

statement

Financial Ratios

• Mathematical function representing relationship of one number to another

• Used to evaluate company financial statements

Financial Ratios

Types of ratios:• Liquidity• Profitability• Efficiency• Debt• Value

Debt Ratios

• Measures how well a company can deal with its debt obligations

• Examples:• Debt/Equity Ratio• Interest Coverage Ratio

Debt/Equity Ratio• Measures debt outstanding to the

monies invested in & earned by the company

• Leverage ratio - the extent to which the company is financed by debt

Interest Coverage• Measures how much the company earns

in relation to the interest it must pay

Value Ratios

• Measures the worth to investors of a company’s shares or the return on owning them

• Examples:• Earnings per Share• Price-Earnings Ratio (PE Ratio)

Earnings per Share• profit per share

Price-Earnings Ratio• comparison of market price to EPS• higher P/E ratio normally means

company is viewed more favourably by investors

FINANCIAL SOURCES

• www.sec.gov• Hoovers – www.hoovers.com – also on

Lexis• Mergent - Dialog• Standard and Poor’s - Dialog, Lexis• EdgarPlus – Dialog, Lexis• Cancorp financials (Canadian) – Dialog,

Lexis• www.sedar.com (Canadian)• Extel (British) – Dialog, Lexis

Life Cycle of Business Information

• Press release• Wire service• Daily news• Newsletter• Weekly• Monthly

Ojala, Marydee. (1996). “The life cyle of business information.” Database, June/July, p. 79-81.

Industries

• Government Statistics• Associations• Investment Sources• News and Magazine Articles

Industry Search Strategy

1. Government sources - be creative• Census Bureau, Commerce department, Statistics

Canada, Strategis, Energy department

2. Industry overviews in trade journals3.Trade associations4.Specialized reports on the industry (either

ongoing or special)5.Articles in the press or in periodicals

(databases)6.Consultants, accounting firms7.Competitors8.Experts

Issues

• Specificity of data• that is, is the data available at

the detail you need

• Currency of source• Currency of data

Industry Sources• Mergent Industry Reports• Standard and Poor’s Industry Reports• Hoover’s Industry Snapshots (data

comes from Plunkett Research) – Lexis• Business & Industry database – Dialog• Tablebase (database) – Dialog• Investext – Dialog, Lexis• Gale Group PROMT – Dialog• Gale Group Trade & Industry - Dialog

S&P Industry Survey Contents

Current EnvironmentIndustry Profile

Industry TrendsHow the Industry Operates

Key Industry Ratios & StatisticsHow to Analyze a …. IndustryGlossaryIndustry ReferencesComparative Company Analysis

General SourcesEncyclopedia of Business Information

Resources. Farmington Hills, MI: Gale Group. Annual.

 Moss, Rita W. (2004). Strauss’s Handbook of

Business Information: A Guide for Librarians, Students and Researchers. 2nd ed. Westport, CT.: Libraries Unlimited.

 Weaver, Maggie. (2001). The Canadian B2B

Research Sourcebook: Your Essential Guide. Ottawa: Canadian Library Association.

 

Helen KatzManagerResearch and Information

ServicesOntario Ministry of Finance

Helen.katz@fin.gov.on.ca

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