Data representing 264 Fortune 500 firms were studied from the 1980's time frame. Results show that block purchases are more likely to take place in firms with poor accounting performance and that defensive measures are ineffective in deterring block purchases.
stock shares, poor firm performance, under-performing firms
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Bethel, Jennifer E.; Liebeskind, Julia Porter; and Opler, Tim, "The Antecedents of Block Share Purchases" (1994). Historical Working Papers. 166.