Takeover speculation may hurt productivity because uncertainty and threat of job loss cause anxiety, distraction, and reduced collaboration and morale among employees. Using a large panel of OECD-headquartered firms, we show that firm productivity temporarily declines after announcements of...

M&A rumors cause anxiety, distraction, and reduced employee morale due to the implicit threat of job loss. Using an international sample of M&A rumors that do not materialize, we show that firm productivity temporarily declines after rumors surface. This productivity dip is more pronounced for...

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 of job loss cause anxiety, distraction, and...

German firms pay out a lower proportion of their cash flows, but a higher proportion of their published profits than UK and US firms. We estimate partial adjustment models and report two major findings. First, German firms base their dividend decisions on cash flows rather than published...

[Foreword] The future challenges in food production and consumption appear clear: * Feed 9 to 11 billion people in the next 30 to 80 years with enough, affordable and healthy food. * Protect the environment (e.g. soils, water, air, biodiversity and landscapes) whilst increasingly under pressure...

[Foreword] The future challenges in food production and consumption appear clear: * Feed 9 to 11 billion people in the next 30 to 80 years with enough, affordable and healthy food. * Protect the environment (e.g. soils, water, air, biodiversity and landscapes) whilst increasingly under pressure...