Andres, Christian; Bazhutov, Dmitry; Cumming, Douglas J.; … - 2021 - [Vers. 04/2024]
We show that productivity at both the firm and employee (i.e., analyst and inventor) level temporarily declines upon … announcements of takeover rumors that do not materialize. Such speculative news may hurt productivity because uncertainty and threat … more pronounced productivity dip for rumored targets and when the likelihood of job loss is higher. Firm performance …