Merger and the returns to labour and investment
Manufacturing industries with high merger intensities have higher value-added of about 10% after taking into account the number of employees and the amount of new investment. Merger-intensive industries are also more investment-intensive, and they have higher value-added per employee. These findings support the view that mergers in manufacturing serve to transfer intangible capital and to allow low-cost solutions to the problem of developing and ultimately deploying assets.
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Volume (Year): 3 (1996)
Issue (Month): 3 ()
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