We merge firm-level data on ownership linkages with administrative data on German workers to analyze how the position in a business group hierarchy affects workers' wages. To acknowledge that ownership linkages are not onedirectional, we propose an index of hierarchical distance to the ultimate...

This paper evaluates the effect of foreign takeover on wages of workers in German establishments, using rich linked employer-employee data from 2003 to 2014. To identify a causal effect of foreign takeover, we combine propensityscore matching with a difference-in-difference estimator. We find...