This paper studies the long-term effect of hedge fund activism on the productivity of target firms using plant … and expected returns, we show how changes to target firms’ productivity are associated with a decline in systemic risk …

total factor productivity. I examine plant-level data and show that some industries experience countercyclical reallocations … produce less of the total output, but during expansions they produce more. These reallocations cause overall productivity to … rise during recessions, and do not reflect the actual path of productivity of a representative firm over the course of the …

changes in the dispersion in wages and productivity across establishments. The second is that the increased dispersion in … wages and productivity across establishments is linked to differential rates of technological adoption across establishments … within industries, (3) the between plant measures of wage and productivity dispersion have indreased substantially over the …

Using plant-level data, I show that the dispersion of total factor productivity in U.S. durable manufacturing is … greater in recessions than in booms. This cyclical property of productivity dispersion is much less pronounced in non … incumbents survive, which results in a more compressed productivity distribution. The resulting higher average productivity in …

This paper examines whether the productivity of U.S. business establishments is related to the extent to which their … multinationals possess proprietary assets that confer a productivity advantage over their domestically-oriented rivals, and that this … productivity advantage are able to absorb the costs and overcome the risks of operating in a wide range of foreign countries, from …

constructed to answer this question. A union monitors establishments in an industry to learn about their productivity, and decides …

’ productivity through more efficient use of capital and labor. Acquirers significantly reduce capital expenditures, wages, and … reallocation. Moreover, changes in productivity help explain the merging firms’ announcement returns. The combined announcement … returns are driven by improvements in target’s productivity. Targets with greater productivity improvements receive higher …

domestic firm-level aggregate employment, output, wages and productivity. A class of models predicts that more productive firms … engage in offshoring, and that this leads to gains in output and (measured) productivity, and potential gains in employment …. Further, we find no significant change in average wages or in total factor productivity measures at affected firms. We find …