Standard Industrial Classification

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Standard Industrial Classification (SIC)

A code system that designates a unique business activity classified by industry.

Standard Industrial Classification

A system of four digit codes used in business to classify the industry to which a company belongs. The SIC was created by the U.S. government in 1937 to facilitate communication within and between businesses and industries. For the most part, the SIC was replaced by the six digit NAICS in 1997, but the SEC still uses the SIC. For example, an oil and gas exploration company might file with the SEC under the code 1382.

Standard Industrial Classification (SIC)

a system which codifies and measures groups of economic activity at various levels of aggregation and disaggregation. In the UK, the Standard Industrial Classification comprises 10 major divisions, 60 classes, 222 groups and 334 activities. Activities, or their equivalent ‘industries’ (see INDUSTRY), are derived on the basis of their supply characteristics, in particular the use of common raw materials and processes of manufacture. Such a classification provides a useful source of information on industry structure and statistical details of employment, output and investment by the industrial sector. However, for purposes of MARKETING strategy, SIC data usually needs to be reinterpreted in order to provide more meaningful specifications of MARKETS, defined in terms of groups of products which are regarded by buyers as close substitute products. To illustrate, glass jars and metal cans are assigned to different industries by the SIC (Division 2, Activity ‘glass containers’, Division 3 ‘packaging products of metal’, respectively), but would be regarded by a user of packaging materials such as a coffee manufacturer as substitute products. See STRUCTURE OF INDUSTRY.

standard industrial classification

see INDUSTRIAL CLASSIFICATION.
References in periodicals archive ?
PersonID, First Name, Last Name, Title, Email, Direct Phone, Phone, Organization, Common Organization Name, Street, City, State, Postal, Country, Website, Revenue, Employees, Industries, SIC Code, SIC Description,
With a SIC code of 7538 the business is classified as automotive repair.
Users can search and track corporate information by ticker symbol, company name, industry type, SIC code, financial form type, or specific industry keywords.
I exclude one firm with two-digit SIC code of 99 (Nonclassifiable Establishment).
Don't worry if you don't know the SIC code for the particular business you are looking for.
Furthermore, a comparison of auction IPOs with traditional IPOs issued in the same year and in the same three-digit SIC code suggests that 44 percent of the auction IPOs have greater first day price surges than their traditional counterparts.
If the file is b-to-b and sophisticated enough, that information would also include something pertaining to the SIC code of the industry they work in.
However, it was noted that results could vary by SIC code and that care must be taken when valuing stocks in different industries.
861-8(e)(3) requires taxpayers to allocate R&D expenditures according to a two-digit SIC code, whereas the DISC regulations permit taxpayers greater flexibility, for example, to group transactions along product lines.
Accordingly, SPI warns, "Plastics companies listed under SIC Code 3089 will be the No.
The first two digits of a NAICS code, like the SIC code, represent the general economic sector in which the industry is classified.
htm) and also do a manual search using a particular SIC code.