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Job Transitions and Employee Earnings After Acquisitions : Linking Corporate and Worker Outcomes
Arnold, David; Milligan, Kevin; Moon, Terry; Tavakoli, … - National Bureau of Economic Research - 2023
This paper connects changes in employer characteristics through job transitions to employee earnings following mergers and acquisitions (M&As). Using firm balance sheet data linked to individual earnings data in Canada and a matched difference-in-differences design, we find that after M&As...
Persistent link: https://www.econbiz.de/10014436997
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Corporate Governance and Merger Activity in the U.S : Making Sense of the 1980s and 1990s
Holmstrom, Bengt - 2001
This paper describes and considers explanations for changes in corporate governance and merger activity in the United … States since 1980. Corporate governance in the 1980s was dominated by intense merger activity distinguished by the prevalence … of leveraged buyouts (LBOs) and hostility. After a brief decline in the early 1990s, substantial merger activity resumed …
Persistent link: https://www.econbiz.de/10012470504
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Post-Merger Restructuring and the Boundaries of the Firm
Maksimovic, Vojislav - 2008
. The extent of post-merger restructuring activities and their cross-sectional variation do not support an empire building …
Persistent link: https://www.econbiz.de/10012464355
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The Industry Life Cycle and Acquisitions and Investment : Does Firm Organization Matter?
Maksimovic, Vojislav - 2006
We examine the effect of financial dependence on acquisition and investment within existing industries by single-segment and conglomerate firms for industries undergoing different long run changes in industry conditions. Conglomerates and single-segment firms differ more in rates of...
Persistent link: https://www.econbiz.de/10012466371
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Product Repositioning by Merging Firms
Atalay, Enghin; Sorensen, Alan T.; Sullivan, Christopher J. - National Bureau of Economic Research - 2023
We examine merging firms' additions and removals of products for a sample of 66 mergers across a wide variety of consumer packaged goods markets. We find that mergers lead to a net reduction in the number of products offered by merging firms. Merging firms tend to both drop and add products at...
Persistent link: https://www.econbiz.de/10014287330
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Acquisitions, Management, and Efficiency in Rwanda's Coffee Industry
Macchiavello, Rocco; Morjaria, Ameet - National Bureau of Economic Research - 2022
Well-functioning markets allocate assets to owners that improve firms' management and performance. We study the effects of ownership changes on coffee mills in Rwanda - an industry in which managing relationships with farmers and seasonal workers is important and that has seen many ownership...
Persistent link: https://www.econbiz.de/10013334447
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How Merger Synergies Can Harm Consumers : A Defense of the Efficiencies Offense
Wollmann, Thomas G. - National Bureau of Economic Research - 2024
traditional merger analysis. Neither subsequent entry nor follow-on mergers necessarily mitigate the problem …
Persistent link: https://www.econbiz.de/10014576659
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A Re-Examination of the Conglomerate Merger Wave in the 1960s : An Internal Capital Markets View
Hubbard, R. Glenn - 1998
' buyers acquire constrained' targets. This result holds while controlling for merger terms and for different proxies used to …
Persistent link: https://www.econbiz.de/10012472268
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Mark-Up Pricing in Mergers and Acquisitions
Schwert, G. William - 1994
This paper studies the premiums paid in successful tender offers and mergers involving NYSE and Amex-listed target firms from 1975-91 in relation to pre-announcement stock price runups. It has been conventional to measure corporate control premiums including the price runups that occur before...
Persistent link: https://www.econbiz.de/10012474048
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The Impact of Corporate Restructuring on Industrial Research and Development
Hall, Bronwyn H. - 1989
This paper investigates whether the recent wave of corporate restructuring in the United States has had a negative impact on research arid development investment by industrial firms. Using a newly constructed sample of about 2500 manufacturing firms from 1974 to 1987, I examine three major...
Persistent link: https://www.econbiz.de/10012475821