NRG Metrics is an independent research firm that focuses upon corporate governance. We are the leading information provider for corporate governance information and analysis.

All of the raw data in the NRG Metrics database is derived from publicly available documents such as Annual Reports, SEC filings, Financial Statement, Sustainability Reports, Compensation Reports, etc.

The data is updated annually.

NRG Metrics market coverage is 10.000 listed companies throughout the world (Europe, North America, and Rest of the World) and covers more than 60 countries and 120 stock indexes.

We provide variables that are classified in 7 different datasets: Corporate Governance, Ownership Structure, Directors & Officers, Family Firms, Compensation, Audit and ESG. For the 5 out of 7 datasets the coverage includes all the financial years and companies. On the other hand, this is not the case for Compensation and ESG datasets. More specifically, regarding the Compensation dataset the coverage includes 22 countries, and the starting year is the year 2011. ESG dataset covers all the countries but only for the large and middle cap companies. Starting year for this dataset is the year 2015.

We use multiple criteria in order to select the countries and the companies for our sample.

First, we use the FTSE Country Classification (Developed, Advanced Emerging, Secondary Emerging, and Frontier). We cover all the large cap indexes from the Developed, Advanced Emerging countries and Secondary Emerging countries.

Second, we provide full coverage in countries that belong in western Europe and North America. More specifically, we cover all the listed firm of main market in the following countries: Sweden, Finland, Denmark, Belgium, Netherlands, Switzerland, Austria, Portugal, France, Germany, Italy, Norway, Greece, Ireland, and Spain. Since 2020, we provide full coverage in USA and since 2022 in Canada.

Third, the availability of the Annual Reports in the English language. In order to include a company in our sample, it is compulsory the company to disclose the annual report in English.

Fourth, we cover more than 120 stock indexes from 60 countries. That means that if a new company become a constituent of the index, we add it in our sample and the same time we still collect data for the company that is out of the index.

NRG Metrics maintains only the highest degree of data quality. We implement a combination of quality control measures. NRG Metrics employs expert analysts to manually enter, review and cross check data with senior analysts, who often perform random audits.

Annual Report Collection. The Annual Reports are generally obtained directly from the companies’ websites. Upon the download of the reports, the companies are processed according to their relevant update priority. Based upon our prior experience, we employ the appropriate report for every listed company (Annual Reports, Corporate Governance Report, Financial Statements, Form 20-F, Proxy Statements, Reference Documents, etc.).

Data Entry. Our analysts employ different tools to collect the necessary data from the Annual Reports. Every data collection analyst undergoes a rigorous training program. Furthermore, numerous automated and manual error checks prevent the entry of suspicious data on the system. This procedure usually lasts for 6-7 months every year.

It is important to underline the fact that the data collection procedure is an internal process of our company (inhouse) with our experienced analysts. We do not use external partners and artificial intelligence to collect our data.

There are several ways to prevent and to correct possible mistakes in the database.

First, we train our staff every year. Our team is very experienced and is the most valuable asset of our company. There is an extra team that supervises the analysts and control the collection procedure.

Second, as soon as the collection procedure is completed, we perform random checks to verify the accuracy and consistency of data entry. We select randomly 10% of the sample in each country and we check again the data.

Third, NRG Metrics has developed a customized software program that traces all the inconsistencies and errors.

Year ending from June of one year through May of the following year constitute a “data year”. Thus 6/30/X1 and 5/31/X2 are part of the “20X1” data year.

You can connect them through the ISIN number.

Our database is a web database. In order our clients to have access in our database, we send Username and Password, and we ask from them a range of static Ips to cover all the necessary University Buildings. This is happened for security reasons. Your IT department can easily provide these IPS.

Yes, the client is able to buy 1 or 2 or the datasets he needs. It is not compulsory to buy the entire database.

No, we do not offer free trial, but we do offer sample file in which you may see how the variables looks like and we are willing to help you with every question that you may have.

There are many reasons why researchers should select NRG Metrics:

1. Dynamic Database. Every year we enrich our Database. We extend our dataset by adding new companies and the same time we add also new variables, according to the needs of our clients.
2. Easy to use. The user can download the dataset only with 4 clicks.
3. Next to our customers. We provide a unique customer service to our clients. We answer to their questions immediately and we provide guidelines how to use the database.
4. Prices for Academic Researchers. We know that the universities and the researchers are not able to pay as the private sector and that is why we provide better pricelist for them.
5. 7 small Databases in 1. Our clients can select the database or the dataset that they need for their research. We provide 7 different datasets: Corporate Governance, Ownership Structure, Directors and Officers, Family Firms, Compensation, Audit and CSR.
6. Family Firms dataset. We are the only database that provides a dataset for Family Firms.
7. Ownership Structure dataset. We provide the more well-structured dataset for Ownership Structure, and we have classified all the large shareholders that the companies disclose in its annual reports in 8 categories. We provide data about dual class firms and additional data for Control Enhancing Mechanisms (Pyramid structure, Cross ownership etc.).

Our target is to create a database that will contain all the variables that are related with the Corporate Governance literature. With this way the researchers will not need to combine different databases to do their research.

Our company has only 6 years history in the field. So far, we have sold the Database to more than 100 universities (University of Oxford, New York University, University of South Carolina, HEC Montreal, University of Saint Gallen, University of North Carolina, ESCP, University of Liverpool, etc). You may see an indicative list of clients in this link http://www.nrgmetrics.com/article.aspx?id=7 and we believe that a large number of works are due to be published in the coming period. Until now we are aware of 30 published papers and 12 working papers (https://nrgmetrics.com/academic-papers-2/).

Obviously, there are a lot of other papers that have been submitted to journals but are not available on the internet in the form of working papers. Because we work with several top Academic Researchers, particularly in the fields of Ownership Structure and Family Firms, we think it’s a matter of time to have a lot of work that uses our company’s data.

You know firsthand that publishing in top tier journal takes on average 5-7 years. So, it’s not surprising or anyhow suggestive of low credibility that NRG data are not yet published in top-tier journals. Obviously, a major advantage that our database offers is the “first mover advantage” thanks to data that other provider do not supply.

There are several options to obtain our data.

First, the client should decide whether he wants to buy the entire database (7 dataset, for the entire period and all the counties available in our database) or specific datasets.

If the client decides to buy the entire database there are the following 3 options:

1) One-off purchase: Under this option, you purchase the datasets in Excel files, with no provision to access the database and you cannot receive database extensions. The cost of the database is 15.000 Euros.

2) Subscription – One year: In the event where an agreement is concluded, we will provide the university with access for academic staff, library, and students. Access to the database (login information) and annual updates will be provided at a fixed rate, regardless of the extensions. The cost for a 1-year subscription contract is 18.000 Euros. That means that for one year you will be able to receive all the future updates and extensions at this price.

3) Subscription – Three years: On the other hand, if you decide to sign a long term contract (i.e. for 3 years), we can provide a significant discount (20%) on the initial purchase price (from 18.000 Euros, where the cost of all the datasets will be 14.400 Euros) and the annual update together with all the dataset extensions will be provided at a fixed price of 9.000 Euros per annum.

On the other hand, in case the client decides to acquire specific datasets, they will receive the datasets in excel files. Therefore, it should be clarified that under this case, there is no access to the web database.