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Corporate restructuring and labor productivity growth

  • Katariina Hakkala

This article analyzes corporate restructuring and its role in generating labor productivity growth in a sample of large Swedish manufacturing corporations. It is found that external restructuring, including ownership changes, start-ups, and closures of plants, accounted for up to 47% of the productivity growth of the sample of corporations during the 1986--1996 period. The results indicate that the productivity of large multi-plant corporations potentially grew at least twice as fast as that of single-plant firms with the same internal productivity growth, thanks to their organizational flexibility. Divestitures of low productive plants were found to play a particularly important role in the replacement process generating productivity growth. The effect of external restructuring on productivity is to some extent explained by a shift toward a more skill-intensive production. Copyright 2006, Oxford University Press.

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Article provided by Oxford University Press in its journal Industrial and Corporate Change.

Volume (Year): 15 (2006)
Issue (Month): 4 (August)
Pages: 683-714

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Handle: RePEc:oup:indcch:v:15:y:2006:i:4:p:683-714
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