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An Examination of Takeovers, Job Loss and the Wage Decline within UK Industry

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  • Til Beckmann
  • William Forbes

Abstract

"This paper investigates the effects of takeovers on workers' employment prospects and wages in the UK for the years 1987-1995. We address directly the idea that takeovers involve a 'breach of trust' with employees. Our results provide no support for the breach of trust hypothesis and rather suggest shareholders and workers in the post-acquisition joint entity are locked in a form of 'equal misery' following the execution of the takeover." Copyright Blackwell Publishers Ltd, 2004.

Suggested Citation

  • Til Beckmann & William Forbes, 2004. "An Examination of Takeovers, Job Loss and the Wage Decline within UK Industry," European Financial Management, European Financial Management Association, vol. 10(1), pages 141-165.
  • Handle: RePEc:bla:eufman:v:10:y:2004:i:1:p:141-165
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-036X.2004.00243.x
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    Cited by:

    1. Azimjon Kuvandikov & Andrew Pendleton & David Higgins, 2014. "Employment Change after Takeovers: The Role of Executive Ownership," British Journal of Industrial Relations, London School of Economics, vol. 52(2), pages 191-236, June.
    2. Kubo, Katsuyuki & Saito, Takuji, 2012. "The effect of mergers on employment and wages: Evidence from Japan," Journal of the Japanese and International Economies, Elsevier, vol. 26(2), pages 263-284.
    3. Dong-Hun Kim, 2010. "Making or Breaking a Deal: the Impact of Electoral Systems on Mergers & Acquisitions," Kyklos, Wiley Blackwell, vol. 63(3), pages 432-449, August.

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