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Buying to sell : private equity buyouts and industrial restructuring

Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim - 2013

We show how temporary ownership by private equity firms affects industry structure, competition and welfare. Temporary ownership leads to strong investment incentives because equilibrium resale prices are determined by buyers incentives to block rivals from obtaining assets. These incentives...

Persistent link: https://www.econbiz.de/10009772935

Divide and privatize : firm break-up and performance

Kočenda, Evžen; Hanousek, Jan - 2011

We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996-2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our...

Persistent link: https://www.econbiz.de/10009130271

Market competition or family ties : which prevails on Italian CEOs pay?

Graziano, Clara; Rondi, Laura - 2015 - This draft: June 8, 2015

The paper analyzes the interplay of product market competition and governance on CEO compensation in Italian listed firms from 2000 to 2011 and tests the impact of the 2007-08 financial crisis on pay-performance sensitivity. We argue that important differences both in the level of compensation...

Persistent link: https://www.econbiz.de/10011280832

The dynamics of automation adoption : firm-level heterogeneity and aggregate employment effects

Bisio, Laura; Cuzzola, Angelo; Grazzi, Marco; … - 2023

effect on the adopters' employment and on the value-added and average wage, whereas sales and productivity increase after an … initial drop with a net positive effect five years after adoption. Crucially, the employment effect is heterogeneous across … technologies has an overall negative effect on aggregate employment. …

Persistent link: https://www.econbiz.de/10014383690

Gender diversity, labour in the boardroom and gender quotas

Kunze, Astrid; Scharfenkamp, Katrin - 2022

This study investigates boards of (non-executive) directors and whether employee representation has a positive effect on gender diversity on boards. We exploit rich, newly assembled board–director matched panel data for Norway and Germany, which contain unique information on whether a director...

Persistent link: https://www.econbiz.de/10013445521

Multiproduct mergers and the product mix in domestic and foreign markets

Chan, Jackie M.L.; Irlacher, Michael; Koch, Michael - 2022

This paper investigates the effects of mergers on the product mix of multiproduct firms. Thus, we open the black box of post-merger efficiency improvements to reveal a new margin of adjustment along the product dimension. We analyze horizontal mergers in a theoretical model where oligopolistic...

Persistent link: https://www.econbiz.de/10013186438

Growth and earnings persistence in banking firms: a dynamic panel investigation

Shehzad, Choudhry Tanveer; Haan, Jakob de; Scholtens, Bert - 2009

This paper investigates (i) whether growth and profitability persist in banking firms, (ii) whether the level and volatility of growth and profitability are bank-size dependent, and (iii) the relationship between growth and profitability of a bank. Using a dynamic panel model estimated by GMM...

Persistent link: https://www.econbiz.de/10003883061

Adjusting to transitory shocks : worker impact, firm channels, and (lack of) income support

Fernandes, Ana Margarida; Silva, Joana - 2023

the universe of cash transfer, unemployment insurance, and training beneficiaries. Negative employment effects take over a … permanently skilled workers while reducing unskilled workers. Brazilian workers suffer smaller employment losses in highly …, employment and productivity) downsizing. Unemployment insurance and cash transfers yield limited wage loss replacement (6 percent …

Persistent link: https://www.econbiz.de/10014289765

Parental leave from the firm's perspective

Corekcioglu, Gozde; Francesconi, Marco; Kunze, Astrid - 2025

less and face more employment turnover. These adjustments do not affect profits, but lead to greater investments and sales … young female part-time employment. …

Persistent link: https://www.econbiz.de/10015397034

CEO preferences and acquisitions

Jenter, Dirk; Lewellen, Katharina - 2011

This paper explores the impact of target CEOs' retirement preferences on the incidence, the pricing, and the outcomes of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone benefits of staying employed until the planned retirement...

Persistent link: https://www.econbiz.de/10009412377