Empirical studies of mergers and acquisitions typically focus on firm-level financial performance. In contrast, we use human capital theory to model these events as transactions that simultaneously have cross-level, real effects on workers, plants, and firms. Our empirical analysis is based on...

While there have been numerous papers on the employment and wage effects of mergers and acquisitions, there has been no direct analysis of the impact of such ownership changes on minority and female workers. This is an unexplored quot;equityquot; dimension of these transactions. We fill this gap...

This paper provides empirical evidence on the effects of cross-border M&As on investing firms' domestic performance in the U.K. and France. We build a new firm-level dataset that combines a global M&A database with balance sheet data for the years 2000-2007. Combining matching techniques with a...

This paper extends the literature on the determinants of international activity at the fi rm level towards cross-border acquisitions and greenfield investments as different modes of FDI using a rich dataset of British firms. While multinational firms are characterized by higher productivity...

This paper provides empirical evidence on the effects of cross-border M&As on investing firms’ domestic performance in the U.K. and France. We build a new firm-level dataset that combines a global M&A database with balance sheet data for the years 2000–2007. Combining matching techniques...

The principal management theoretical lenses for examining leveraged buyouts have been the agency theory and information asymmetries. Occasionally a wider number of theories and concepts have been invoked, such as the parenting advantage, the resource-based view, and the market for corporate...

A wide range of definitions exists of what constitutes value creation and generation in private equity buyouts. At the core of the problem is that our understanding of the diverse set of levers, drivers and mechanisms by which financial value is generated has been inconsistent and incomplete....

This paper extends the literature on the determinants of international activity at the firm level towards cross-border acquisitions and greenfield investments as different modes of FDI using a rich dataset of British firms. While multinational firms are characterized by higher productivity...

We propose an alternative method for investigating whether firms improve performance through mergers after taking into account the selection bias of merging firms. We simultaneously consider the dynamics of firm performance and the merger decision by employing full information maximum likelihood...

Speculative news on corporate takeovers may hurt productivity because uncertainty and threat of job loss cause anxiety, distraction, and reduced collaboration and morale among employees and managers. Using a panel of OECD-headquartered firms, we show that firm productivity temporarily declines...