volkovacodes / block_codes

This depository uses SEC EDGAR data in Schedule 13D and Schedule 13G data to find all positions above 5% in all US stocks between 1994 and 2018.

Block_Codes

This GitHub page describes construction of the data in the paper "Is Blockholder Diversity Detrimental?" by Miriam Schwartz-Ziv and Ekaterina Volkova (2020)

The most recent version of the paper is avaliable as SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3621939

Step 1. Download Files.

• download_forms.R file downloads sc13d/13g files and their amendments and puts them into SQL database.
• this file downloads the list of all forms for each year from SEC website, the only thing you need to specify is a range of years in loop and working directory
• code is slow and takes up to several hours to complete. To make sure, that I get all posible files, I download each file twice from master file for filer and for subject.

Step 2. Extract and Convert Main Filings.

• extract_body_form.R extracts main filing from complete submission files and convert .htm to plain text format if needed.
• I put output into another SQL database.

Step 3. Parse SEC Header.

• pasing_SEC_header.R extracts filer and subject information from the form
• This script could be used for data extraction from other forms
• I have a blog entry about this function (https://orhahog.wordpress.com/2016/11/26/parsing-sec-header/)

Step 4. Extract CUSIP from the filings.

• extract_CUSIP.R script returns six and eight digit CUSIP from SEC filings.
• Output of this part is a CIK-CUSIP map, which could be downloaded in .csv format from my website (www.evolkova.info)

Step 5. Extract size of the block positon.

• parsing_prc_position.R extracts the aggregate block size from the filing.

Step 6. Extract identity of blockholders.

• parsing_block_identity.R extracts identity of blockholders from the information in the question 12.
• here is the list of all identities (https://www.law.cornell.edu/cfr/text/17/240.13d-102)

Step 7. Aggregate information into blockholder-company-year panel

Step 8. Download insider ownership transactions

• Added in 2022 to improve data accuracy

Step 9. Add missing insider blocks

• Added in 2022 to improve data accuracy

block_codes's Issues

Duplicate CUSIP values

Not sure if this repo is still maintained but on the off chance that it is: why are there so many duplicate CUSIP values?

Some major offenders' CUSIP6 are:

• 13GUND
• 13GCUS
• 000000
• 549SCH
• 20549S
• 13DUND
• 13G(RU

Cusip all zeros

Hello Ekaterina,

Thank you for the work, but may I know why there are so many observations with cusip as "00000000"?

Block ownership above 100

Thank you very much for your work. I find that some values of 'block_hold' are above 100, may I know how you handled this issue?

Error when running the downloads_form code

Hi,
I am getting this error when trying to download the forms: Error in fread(textConnection(master), sep = "|")