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How to Connect SAS with WRDS database (Easy Example Codes!)

How to Connect SAS with WRDS database (Example Codes!)

Academic researchers are required to work on WRDS database by connecting SAS online. This article explains how to connect SAS with WRDS database. Users can copy the code and use them in their research project.

How to Connect SAS with WRDS database, Connect SAS with WRDS Database.

1. Login to WRDS with SAS

If you want to work on WRDS database using SAS, you should follow the steps below:

Step 1: Define your local library where you will save your works:

option PS=58 LS=72 NODATE NONUMBER;
libname mywt 'C:\wikitekkee\Learning SAS\'; /*Define library where you will save your data */

Step 2: Login to WRDS via SAS:

To login to WRDS via SAS, follow the codes below:

/* Login to WRDS database */ 

%let wrds = wrds.wharton.upenn.edu 4016;
options comamid=TCP remote=WRDS;
signon username=_prompt_;

When you run the above code, you will see the Remote User Identification pop-up to enter your WRDS username and password. After typing the username and password, you are now logged in and ready to define the library.

Remote WRDS User Identification

2. Define Library from WRDS

After successful login, you need to define library of the data table from WRDS. For example:

/* define library */

rsubmit;
options source nocenter ls=72 ps=max;
libname compf '/wrds/comp/sasdata/naa'; /* COMPUSTAT FUNDA*/
libname crspm '/wrds/crsp/sasdata/a_stock'; /*crsp msf*/

Note:

Compustat Annual Funda Library Location

Now you are ready to use these libraries.

3. Collect Customized Variables from WRDS with SAS

To collect data from WRDS, you MUST start your code with “rsubmit“. Then you can write your code. In this example, we use the compf (compustat Fundamental library and want to collect:

rsubmit;
data comp;
set compf.funda (keep=gvkey fyear tic sale ni at act lct lt);
where act is not missing and fyear>1980;
run;

Explanation of the above code:

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After running the above the code, you now have a table ‘comp’ on WRDS server. All operation you will perform must start with rsubmit, which indicates that you are working on the WRDS’ server.

The proc print command prints the first 10 observations:

4. Perform Basic Analysis on SAS-Connect

Now, you can perform your analysis. Here is an example:

rsubmit;
data comp;
set comp;
rename tic=ticker;
roi=ni/at;
run;

/* To print the new table with new variable "roi" */
rsubmit;
proc print data=comp (obs=10);
run;

The new table with new variable roi:

SAS-WRDS data analysis

5. Download Data from WRDS to Your Computer

To download the data to your local library, you can use the following code:

rsubmit;
proc download data=comp
out=mywt.comp1;
run;

To work on the downloaded dataset from your local library, you are not required to use rsubmit. 

data comp1;
set mywt.comp1;
run;

6. Export Data from SAS to STATA

You can also export your SAS dataset as STATA file, and the code is as follows:

proc export data=comp1
dbms=DTA
outfile="C:\wikitekkee\Learning SAS\comp1.dta"
replace;
run;

7. Connecting STATA with WRDS

To connect python with WRDS, you are required to follow the steps below: And there is a complete tutorial on WRDS and this one.

Once you connect STATA with WRDS, you can see only those tables in which your university or institution subscribes.

8. Connecting Python with WRDS

To connect python, R, MATLAB with WRDS, you can follow posts from WRDS.

WRDS data directory from Python, R, and MATLAB

9. More related readings

Create dataset in SAS

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Import Excel, STATA, and Text File into SAS

Import STATA Files into SAS

Import Text Files into SAS

Export SAS Dataset to Excel 

SAS to STATA: Export SAS as STATA

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