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Do Wages Rise or Fall Following Merger?

Conyon, Martin and Girma, S and Thompson, S and Wright, P (2004) Do Wages Rise or Fall Following Merger? Oxford Bulletin of Economics and Statistics, 66 (5). pp. 847-862. ISSN 0305-9049

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Abstract

This paper provides a systematic empirical analysis of the effects of merger and acquisition activity on profitability and firm-level employee remuneration in the UK, using a specially constructed database for the period 1979-91. It finds that both profitability and wages rise following acquisition, and firms that merge within the same industry division experience larger increases in profitability and pay their workers higher wages than those engaged in unrelated acquisitions; i.e. in part, the result of an increase in the efficiency with which labour is used following related acquisition.

Item Type: Article
Journal or Publication Title: Oxford Bulletin of Economics and Statistics
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Departments: Lancaster University Management School > Accounting & Finance
ID Code: 53981
Deposited By: ep_importer_pure
Deposited On: 26 Jun 2012 10:02
Refereed?: Yes
Published?: Published
Last Modified: 09 Apr 2014 23:24
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/53981

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