We explore how changes in ownership and managerial control affect the productivity and profitability of producers …. Using detailed operational, financial, and ownership data from the Japanese cotton spinning industry at the turn of the last … century, we find a more nuanced picture than the straightforward "higher productivity buys lower productivity" story commonly …

We explore how changes in ownership affect the productivity and profitability of producers. Using detailed data from … the Japanese cotton spinning industry at the turn of the last century, we find that acquired firms' production facilities … and gains in capacity utilization that raised both their productivity and profitability levels …

We explore how changes in ownership and managerial control affect the productivity and profitability of producers …. Using detailed operational, financial, and ownership data from the Japanese cotton spinning industry at the turn of the last … century, we find a more nuanced picture than the straightforward "higher productivity buys lower productivity" story commonly …

We explore how changes in ownership and managerial control affect the productivity and profitability of producers …. Using detailed operational, financial, and ownership data from the Japanese cotton spinning industry at the turn of the last … century, we find a more nuanced picture than the straightforward "higher productivity buys lower productivity" story commonly …

(horizontal differentiation). The market context is Japan's cotton spinning industry at the turn of the last century. We find that …

(horizontal differentiation). The market context is Japan's cotton spinning industry at the turn of the last century. We find that …