1. Link: http://wrds.wharton.upenn.edu/
2. Click - Members Login
3. Enter Username and Password
a. Username: eif
b. Password: TCUeif2009
c. Note: WRDS is case sensitive
4. WRDS Terms of Use Appears
a. Click - I Agree
15. Exit CRSP by clicking “HOME” at the top of the WRDS Page
16. Under Free Access Data Sets
a. Click (drop down arrow): Fama French, Momentum, and Liquidity
17. Once on the page that appears, look to the left-hand side
a. Under Fama-French Portfolios
i. Click: Factors
18. Step 1: Frequency
a. Select: Monthly
19. Step 2: Date Range
a. Use same date range
20. Step 3: Factors
a. Select: Risk-Free Interest Rate (One Month Treasury Bill Rate) (RF)
21. Step 4: Output
a. Output Format
i. Select: comma-delimited text (*.csv)
b. Date Format
i. Leave as: YYMMDDn8. (e.g. 19840725, Default Format)
c. Compression Type
i. Leave as: <none>
d. E-Mail Address
i. Not necessary to input your E-Mail Address
22. Click: Submit Request
23. A new window will pop up
a. Once your output is complete, click on the link below to open the output file
b. When you click the link, a window for Excel will pop up
c. Click: Open
d. Note: This might only apply to some computers, but in Excel, a small window will
appear that says “Opening” and just click “Cancel”, which then opens the document.
Also, if Excel is already open on your computer, you might need to click on the Excel
window to see the small window that says “Opening.”
24. The Opened Document
a. The opened document will have two columns: “date” and “rf”
b. DELETE the “date” column
c. RENAME the “rf” column to “Rf”
25. COPY and PASTE the “Rf” column into your Spreadsheet under the same tab as the other
information (paste it into Column E)
26. Your spreadsheet should now have five columns: “DATE”, “COMPANY NAME”, “TICKER”, “S&P”,
and “Rf”
27. Note: The WRDS Database currently only has risk-free rate data up until May 2008, so you can
only use the data for the S&P and your stock up until May 2008 for your regression