Analysing the employment effects of mergers and acquisitions |
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Authors: | Eero Lehto,Petri B ckerman |
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Affiliation: | aLabour Institute for Economic Research, Pitkänsillanranta 3A, 6. krs., FI-00530 Helsinki, Finland |
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Abstract: | This paper examines the employment effects of mergers and acquisitions (M&As) by using matched establishment-level data from Finland. Our data register practically almost all M&As in all sectors. We compare the employment effects of cross-border M&As with the effects arising from two different types of domestic M&As and internal restructurings. The results show that cross-border M&As lead to downsizing in manufacturing employment. The effects of cross-border M&As on employment in non-manufacturing are much weaker. Changes in ownership associated with domestic M&As and internal restructurings also typically cause employment losses, but they exhibit an interesting sectoral variation. |
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Keywords: | Mergers and acquisitions M& As Takeovers Employment Workforce |
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