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| Tekijä: | Siegel, D.S. Simons, K.L. |
| Otsikko: | Assessing the effects of mergers and acquisitions on firm performance, plant productivity, and workers: new evidence from matched employer-employee data |
| Lehti: | Strategic Management Journal
2010 : AUG, VOL. 31:8, p. 903-916 |
| Asiasana: | Sweden Nordic countries Scandinavia manufacturing human capital total factor productivity company performance employees workers mergers |
| Vapaa asiasana: | acquisitions downsizing employers compensation |
| Kieli: | eng |
| Tiivistelmä: | This study uses human capital theory to model mergers and acquisitions (M&As) as transactions having simultaneously cross-level, real effects on firms, plants, and workers. The empirical analysis is based on longitudinal, linked employer-employee data for basically all Swedish manufacturing firms and employees. It is found that M&As enhance plant productivity, yet also resulting in the downsizing of firms and establishments. In the aftermath of these ownership changes firm performance does not decline. It is concluded that such transactions form a mechanism for improving the sorting and matching of plants and workers to more efficient uses. |
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