After merging the TrueCourse and Equilar data, we have a final sample of 2,106 in dividual firms with complete data. This sample spans many sectors of the economy and has a distribution of firms that is very consistent with the composition of the complete e Table 1. Panel A). Our sample represents approximately 70 percent of Compustat file the market capitalization of the Russell 3000 as of the end of 2003. Finally, our sample consists of firms that are larger, more profitable, exhibit a lower book-to-market, and have more following by analysts than all other Compustat firms(see Table 1. Panel B)