Employment effects of acquisitions: Evidence from acquired European firms
AbstractThis paper examines the employment effects of acquisitions for acquired European firms taking non-random selection of acquisition targets explicitly into account. Following the empirical firm growth literature and theories put forward in the mergers and acquisition (M&A) literature we control for convergence dynamics in firm size and distinguish between different types of acquisitions. Empirically, we estimate an endogenous treatment model using accounting data for a newly created sample of acquired and non-acquired European firms. Our results reveal positive employment effects for all different types of acquisitions.
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Bibliographic InfoPaper provided by University of Salzburg in its series Working Papers in Economics and Finance with number 2010-10.
Length: 28 pages
Date of creation: 27 Jul 2010
Date of revision:
Acquisitions; employment effects; firm growth; endogenous treatment model;
Other versions of this item:
- Harald Oberhofer, 2013. "Employment Effects of Acquisitions: Evidence from Acquired European Firms," Review of Industrial Organization, Springer, vol. 42(3), pages 345-363, May.
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
- L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-08-06 (All new papers)
- NEP-BEC-2010-08-06 (Business Economics)
- NEP-COM-2010-08-06 (Industrial Competition)
- NEP-EUR-2010-08-06 (Microeconomic European Issues)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Deborah A. Cobb-Clark & Thomas Crossley, 2003. "Econometrics for Evaluations: An Introduction to Recent Developments," The Economic Record, The Economic Society of Australia, vol. 79(247), pages 491-511, December.
- Harald Oberhofer & Matthias Stöckl & Hannes Winner, 2012.
"The Wage Premium of Globalisation: Evidence from European Mergers and Acquisitions,"
WIFO Working Papers
- Oberhofer, Harald & Stöckl, Matthias & Winner, Hannes, 2012. "The wage premium of globalization: Evidence from European mergers and acquisitions," Economics Discussion Papers 2012-6, Kiel Institute for the World Economy.
- Oberhofer, Harald & Stöckl, Matthias & Winner, Hannes, 2012. "The Wage Premium of Globalization: Evidence from European Mergers and Acquisitions," Working Papers in Economics and Finance 2012-1, University of Salzburg.
- Furlan, Benjamin & Oberhofer, Harald & Winner , Hannes, 2014.
"A Note on Merger and Acquisition Evaluation,"
Working Papers in Economics and Finance
2014-2, University of Salzburg.
- Crespo Cuaresma, Jesus & Oberhofer, Harald & Vincelette, Gallina A., 2014. "Institutional Barriers and Job Creation in Central and Eastern Europe," Working Papers in Economics and Finance 2014-1, University of Salzburg.
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