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Mergers and acquisitions, employment, wages, and plant closures in the U.S. meat product industries

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Author Info

  • Sang V. Nguyen

    (Center for Economic Studies, U.S. Bureau of the Census, Washington, D.C., 20233)

  • Michael Ollinger

    (Economic Research Service, U.S. Department of Agriculture, Washington, D.C., 20005)

Abstract

The purpose of this article is to evaluate the impact of mergers and acquisitions (M&As) on wages, employment, and plant closures in the meat packing, prepared meat products, and poultry slaughter and processing industries during two merger periods, 1977-1987 and 1982-1992. The analysis relies on two balanced panel datasets of all plants owned by meat and poultry firms that existed in the 1977 Census of Manufacturing and survived until 1987 and another dataset of plants that existed in 1982 and survived until 1992. We find that (a) M&As are positively associated with wages in the meat packing and prepared meat products industries during 1977-1987, but not during 1982-1992; (b) changes in employment are positively related to M&As in all three meat and poultry industries during 1977-1987, but only in the poultry industry during 1982-1992; and (c) M&As are generally negatively associated with plant closures [EconLit. Citations: J630]. © 2009 wiley Periodicals, Inc.

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File URL: http://hdl.handle.net/10.1002/agr.20186
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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Agribusiness.

Volume (Year): 25 (2009)
Issue (Month): 1 ()
Pages: 70-89

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Handle: RePEc:wly:agribz:v:25:y:2009:i:1:p:70-89

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Web page: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1520-6297

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References

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  1. Charles Brown & James L. Medoff, 1988. "The Impact of Firm Acquisitions on Labor," NBER Chapters, in: Corporate Takeovers: Causes and Consequences, pages 9-32 National Bureau of Economic Research, Inc.
  2. Robert H McGuckin & Sang V Nguyen, 2000. "The Impact of Ownership Changes: A View from Labor Markets," Working Papers 00-02, Center for Economic Studies, U.S. Census Bureau.
  3. Charles Brown & James L. Medoff, 1989. "The Employer Size-Wage Effect," NBER Working Papers 2870, National Bureau of Economic Research, Inc.
  4. Ollinger, Michael & Nguyen, Sang V., 2001. "Mergers And Acquisitions And Productivity In The U.S. Meat Products Industries: Evidence From Microdata," 2001 Annual meeting, August 5-8, Chicago, IL 20580, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  5. Sang V Nguyen & Robert H Mcguckin, 1993. "On Productivity and Plant Ownership Change: New Evidence From the LRD," Working Papers 93-15, Center for Economic Studies, U.S. Census Bureau.
  6. Frank R. Lichtenberg & Donald Siegel, 1987. "Productivity and Changes in Ownership of Manufactoring Plants," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(3), pages 643-684.
  7. Robert H Mcguckin & George A Pascoe, 1988. "The Longitudinal Research Database (LRD): Status And Research Possibilities," Working Papers 88-2, Center for Economic Studies, U.S. Census Bureau.
  8. Matsusaka, John G, 1993. "Target Profits and Managerial Discipline during the Conglomerate Merger Wave," Journal of Industrial Economics, Wiley Blackwell, vol. 41(2), pages 179-89, June.
  9. Dunne, T. & Roberts, M.J., 1990. "Wages And The Risk Of Plant Closing," Papers 6-90-2, Pennsylvania State - Department of Economics.
  10. Robert H. McGuckin & Sang V. Nguyen & Arnold P. Reznek, 1998. "On Measuring the Impact of Ownership Change on Labor: Evidence from U.S. Food-Manufacturing Plant-Level Data," NBER Chapters, in: Labor Statistics Measurement Issues, pages 207-248 National Bureau of Economic Research, Inc.
  11. Sang V Nguyen, 1998. "The Manufacturing Plant Ownership Change Database: Its Construction And Usefulness," Working Papers 98-16, Center for Economic Studies, U.S. Census Bureau.
  12. Alan Krueger & Orley Ashenfelter, 1992. "Estimates of the Economic Return to Schooling from a New Sample of Twins," NBER Working Papers 4143, National Bureau of Economic Research, Inc.
  13. Timothy Dunne & Mark J Roberts, 1993. "The Long-Run Demand for Labor: Estimates From Census Establishment Data," Working Papers 93-13, Center for Economic Studies, U.S. Census Bureau.
  14. Sang V Nguyen & Robert H Mcguckin, 1995. "Exploring The Role Of Acquisition In The Performance Of Firms: Is The "Firm" The Right Unit Of Analysis?," Working Papers 95-13, Center for Economic Studies, U.S. Census Bureau.
  15. Ollinger, Michael & MacDonald, James M. & Madison, Milton, 2000. "Structural Change In U.S. Chicken And Turkey Slaughter," Agricultural Economics Reports 34049, United States Department of Agriculture, Economic Research Service.
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Cited by:
  1. Yanling Wang, 2010. "Exposure to FDI and New Plant Survival: Evidence in Canada," Carleton Economic Papers 10-05, Carleton University, Department of Economics.
  2. Mathieu Bunel & Richard Duhautois & Lucie Gonzalez, 2010. "Are Mergers and Acquisitions Accompanied by Increasing Recourse to THS employment? A French perspective," Economics Bulletin, AccessEcon, vol. 30(1), pages 614-623.

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