Matching Compustat data to the Longitudinal Business Database, 1976–2020

This paper documents the construction of an updated and comprehensive bridge between Compustat and the Longitudinal Business Database (LBD) spanning 1976–2020. The Compustat–LBD linkage is one of the most requested resources in the U.S. Federal Statistical Research Data Centers, yet no publicly documented, comprehensive bridge has existed to date. We fill this gap with a multi-stage matching framework that combines EIN matching, refined fuzzy name and address algorithms, NAICS alignment, telephone records, and a novel ExecuComp–LEHD linkage. The resulting bridge matches roughly 85% of unique GVKEYs and 95% of economic activity, providing a valuable resource for longitudinal research on U.S. businesses, corporate governance, and executive compensation. By detailing all matching procedures we deliver a production-quality tool for integrating public-company financials to firm-level microdata.