The CD-Direct database contains key information about all Danish VAT-registered companies.

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2 Contents 1 Introduction Available data description CD-Direct Supplementary data sources Statistics Denmark Center for Survey and Survey/Register Data How to get access to data P a g e

3 1 Introduction The Datahub is a unique initiative offered by the Competitiveness platform. It enables CBS researchers to get access to data regarding the competitiveness of Danish firms. Researchers at CBS are now able to access the CD-Direct database through data provided by the credit rating agency Experian. The CD-Direct database offers key information about Danish VAT-registered companies, including accounting data and key ratios, growth numbers, credit rating, areas and sectors. The following booklet describes the content of the CD-Direct database, including some supplementary information. The supplementary information is intended as an extra service and describes additional databases and statistics, such as Statistics Denmark and Centre for Survey and Survey/Register Data. 2 Available data description 2.1 CD-Direct The CD-Direct database contains key information about all Danish VAT-registered companies. The database provides data on active and non-active companies. For each company the board of directors, ownership information, bank- and audit-connections is included. In addition, changes in data concerning industries, status, annotation (bankruptcy, liquidation and dissolution), juridical form, names of board of direction and bank- and account-connections are provided. Tables 1-5 provide an overview of all variables (marked in light blue) and CD Direct s definition of the terms. Information regards accounting, key ratio and growth numbers, areas and credit rating- definitions. Figure 1: Content of the CD-Direct database 2 P a g e

4 Account Economic Resources Definition Table 1: Account Accounts are only available for Danish companies. Comments The Data protection act (da: Registerloven) prescribes that accounts are not reported on personnel owned firms (e.g. I/S). There are no accounts on newly established firms. Turnover Revenue exclusive VAT and excise duty. It is optionally whether the companies want to report turnover or gross profit in their annual results. About 30 % of the companies report the size of their turnover. Gross profit Revenue less production costs. There is no duty of disclosure with regard to the size of: Gross profit Depreciations Primary result Net finance entries Ordinary result Extraordinary entries Result before tax Dividend Depreciation of the year of immaterial and materiel assets. Gross profit deducted the firm's capacity costs. The firm's financial result. Among these the interest income, - expenditure and returns of investments in bonds and affiliated firms are included. Result of the firm s primary and secondary operations, including the financial result but excluding extraordinary entries. Results of events that do not concern the ordinary operations. The firm's net result before taxes and profitsharing. The firm's dividend for the shareholders. Depreciation Primary result. The primary result is the result of the firm's main activities. Assets Fixed assets Real estate Real estate assessment Current assets Stock Trade debtors Liquid assets Liabilities Equity capital Company capital Provisions for liabilities and charges Subordinated loan capital Long term debts Mortgage debts Short term debts Trade creditors That part of the assets that is intended for lasting use or possession The recorded value of real estate. The real estate assessment of the firms Danish estates. That part of the assets that is expected to be sold in the period. Goods for turnover. Outstanding debtor incl. outstanding commission. All liquid assets in funds, bank and giro. Contributed capital plus the accumulated profit/deficit and revaluation surplus on real estate or bonds. The part of the firm s funding that originates from company owners. Shows how much the company estimates its future risky liabilities for e.g. deferred tax or loss on debtors. Invested capital either as short or long term debts. Capital that can be set equal to equity capital in case of letter of subordination. Debt with a maturity date of more than one year. Short and long term debt in real estate. Debt with maturity date of less than one year. Delivered but not yet paid goods. Total balance 3 P a g e

5 Table 2: Key ratio Key ratio Contribution ratio = (Gross profit/turnover) x 100. How much of turnover represents gross profit. Of that part, how much of turnover is spent on capacity costs, financial costs. Net profit ratio = (Primary result/ Turnover) x 100. Profit from the primary activity for each krone that is sold. Capacity ratio = Gross profit/ Capacity costs where Capacity costs = Gross profit - Primary result. Number of times gross profit covers capacity costs. Return on investment = (Primary result/ Total balance) x 100. Total capital rate of return during the primary activity. Rate of stock turn = Turnover/article stock. Turnover of article stock during one period. Rate of turnover = Turnover/ total balance. Ability of creating turnover compared to funds tied up in assets. Fixed time of debt = ((Trade debtor x 365) / 1.25) / Turnover. The amount of days it takes in average, before the debtors pay the firm. Fixed time of credit = ((Trade creditors x 365)/1.25)/ turnover. Amount of days it takes in average, until the firm pays the supplier. Liquidity ratio I = (Current assets/ short term debt) x 100. The firm's capability of honoring the immediate claims of debt. Liquidity ratio II = (Current assets - Article stock)/ short term debt x 100. Primary result per employee = Primary result / Number of employees Ordinary result per employee = Ordinary result/ Number of employees Net result per employee = Result of the year/ Number of employees Fixed assets per employee = Fixed assets/ number of employees Publishing date of real estate Date for the public evaluation of real estate. The firm's capability of honoring the immediate claims of debt. Solvency ratio = (Equity Capital/ total balance) x 100. Capital generated from operations. Equity capital return I = (Ordinary result/ Equity capital) x 100. Amount of interest of the owners property. Equity capital return II = (Result before tax/ Equity capital) x 100. Interest paid on property. Breakeven turnover = (Contribution margin - primary result)/ Contribution margin x 100. Safety margin = (Turnover - Breakeven turnover)/ Turnover x 100. The amount of turnover that is required to cover all costs associated with receiving the revenue. The amount of times turnover exceeds the breakeven point. Intrinsic value = (Equity capital/ Company Capital) x 100. How much 100 DKK contributed capital are worth, thus the actual value of the company. Turnover per employee = Turnover/ Number of employees Gearing = (Long term debt + short term debt)/ Equity Number of times Debt exceeds Equity Capital. Capital. No. of employees Information from account. Average number of employees in the accounting period. Table 3: Growth Growth Employees Turnover Gross profit Annual result Growth numbers are only available for companies, if there are min. two annual accounts. Made up in Min./ Max. Interval. Employees in the latest account - employees in the previous account (Turnover in latest account - Turnover in previous account) / Turnover in previous account x 100 (Gross profit for latest account - gross profit for previous account) / gross profit for previous account x 100 (Annual results latest account - annual results previous account)/annual results previous account x 100 The growth numbers show the rise/ fall in the latest account in comparison to the previous account. The annual result is reported after taxes. 4 P a g e

6 Sectors Internationalization Table 4: Areas Areas Import area Export area Group countries Nace sector JB- sector Quoted on the stock exchange List of all import areas. List of all export areas. Shows firms with foreign subsidiaries and indicates the specific country. The common European nomenclature for industrial classification of all economic activities. The sectors are often more precise than the NACE-codes. Information is collected from the "Købmandsstanden"s subsidiary company "JB-business". Indication of firms quotation on the Danish stock exchange. Companies with international group country- relations. Information about subsidiaries is primary collected from the latest account, but is updated via interviews. The sector codes are 6-digits and built up hierarchically. There are JB-sectors on Denmark's approx. 50,000 main companies within trading, construction, transport and industry. Credit rating Risk Table 5: Credit rating Credit rating on a scale from 0 to 100, where 0 is worst and 100 best. The rating is calculated on the basis of different factors, primary of economic character. B Not specified/ unclassified Rating could not be determined, that means information is not verified within the last 12 months Very high/ not specified Firms on that level have very bad operational results High Firms on that level have weak key numbers, but may be stable costumers. These are typically small and new established firms without accounts Moderate Firms on that level have a reasonable good creditworthiness. This level has two characteristically traits: Big firms with weak operation- and financial results. Or smaller firms with good operation results Normal Smaller firms have good results or a solid economic platform. Bigger firms have good results or a solid economic platform Low Firms on this level appear very creditworthy. Bigger firms are run with respectable and good results or a very strong economic foundation Very low Firms on this level appear extraordinary creditworthy. Smaller firms have limited possibilities to reach that level. The firms' economic foundation is among the best ones. The credit risk is minimal. 5 P a g e

7 2.2 Supplementary data sources The following information is not provided by the Competitiveness Platform. Thus, it only serves to highlight supporting information to extend the CD-Direct data previously described (in section 2.1) Statistics Denmark Statistics Denmark has a broad collection of register data from 1970 to present date i. To illustrate the extensive information from Statistics Denmark, the most important statistics and data collection areas are sorted by three levels of analysis: Individual, Firm/Industry and Society level. Figure 2 shows how these three levels are linked together. The size of the three charts (Figure 3-5) is independent of their importance. Figure 2: Different levels of data collection areas from Statistics Denmark Society Firm/Industry Individual 6 P a g e

8 Figure 3: Data at individual level Individual Education The population's education Student register Single course from elementary school Single course from high school Entire educations with grade point average Highest fulfilled education Qualification register Special education Adult- and supplementary education Social relations and health system Social relations, Housing benefits Child allowance and service for families with children Registered individuals in day-care centers Social security benefit statistics Social pension Incapacity benefit Utilization of hospital Subsidies to exposed children and youth Health insurance: Honorarium, Services, Contracts Sickness and birth benefits Active social policy benefits Unemployment benefit payment Criminality: Rulings, Reports, Imprisonments, Conferred cases, Victims for criminal offenses and Charges Labor market/employment: Wage: wage statistics for municipalities, private and government employers Absenteeism Employment for wage earners Unemployment benefit Labor force statistic: Population's affiliation to the labor market Employment Work classification module Employment for wage earner (also on firm/industry level) e-income Register A-income, Family income, Personal income Population Immigration to DK, Emigrations from DK, Fertility Property and residence: Housing conditions Properties Sale of property 7 P a g e

9 Figure 4: Data at firm/industry level Firm/Industry Service sector Retail sales index Trade barometer for retailing Services Trade barometer service sector General business The firm's purchase and sales General firm statistic: Revenue from sales of products and services in primary operations Accounting statistic Danish subsidiaries abroad Trade register Transport Freight and cruiser s call on bigger Danish ports Shipping on smaller Danish ports Passenger- and ferry service Car register Labor market/ Employment: ATP/ wage bill (mandatory retirement saving) Employment for wage earners (also on individual level) Public employment Environment and energy The industry's consumption of energy Figure 5: Data at society level Society Surveys: Consumption survey Labor force survey Social relations Prevention register: health sector and socioeconomic data Cross- sectoral: Moduledata for: - geological data - population and election - education and culture Industry The Industry's purchase of goods and services The industry's production and order intakes The industry's sale of goods The Industry's and wholesale s trade stock Trade barometer for the industry Companies and economy of companies Number of working places in the firm Firm statistic Accounting statistic Cyclical barometer for building and construction companies Education and culture Register for institutions that provide education 8 P a g e

10 2.2.2 Center for Survey and Survey/Register Data The Center for Survey and Survey/Register Data, short CSSR, is a network that supports quantitative research in social and health sciences. CSSR offers access to Danish survey Data. The surveys are generated by both national Danish surveys and participation in international surveys ii. The following charts provide an overview of CSSR s surveys sorted by topics. The blue boxes indicate available surveys, whereas the green boxes indicate upcoming surveys. 9 P a g e

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12 3 How to get access to data To obtain data for CD-Direct, please contact the Competitiveness Platform for further information: Competitiveness Platform Christina Merolli Poulsen Project Manager Solbjerg Plads 3, B Frederiksberg Denmark Tel.: References i ii 11 P a g e