Neumark, David; Gokhale, Jagadeesh; Groshen, Erica L. - National Bureau of Economic Research (NBER) - 1993
Hostile takeovers may reduce the prevalence of long-term employment contracts if they facilitate the opportunistic expropriation of extramarginal wage payments. Our tests of two versions of the expropriation hypothesis improve on existing research by using firm- and establishment-level data from...