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Do Hostile Mergers Destroy Jobs?

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Do Hostile Mergers Destroy Jobs? / Conyon, Martin; Girma, S; Thompson, S et al.
In: Journal of Economic Behavior and Organization, Vol. 45, No. 4, 08.2001, p. 427-440.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Conyon, M, Girma, S, Thompson, S & Wright, P 2001, 'Do Hostile Mergers Destroy Jobs?', Journal of Economic Behavior and Organization, vol. 45, no. 4, pp. 427-440. https://doi.org/10.1016/S0167-2681(01)00155-X

APA

Conyon, M., Girma, S., Thompson, S., & Wright, P. (2001). Do Hostile Mergers Destroy Jobs? Journal of Economic Behavior and Organization, 45(4), 427-440. https://doi.org/10.1016/S0167-2681(01)00155-X

Vancouver

Conyon M, Girma S, Thompson S, Wright P. Do Hostile Mergers Destroy Jobs? Journal of Economic Behavior and Organization. 2001 Aug;45(4):427-440. doi: 10.1016/S0167-2681(01)00155-X

Author

Conyon, Martin ; Girma, S ; Thompson, S et al. / Do Hostile Mergers Destroy Jobs?. In: Journal of Economic Behavior and Organization. 2001 ; Vol. 45, No. 4. pp. 427-440.

Bibtex

@article{affed6226f6b47ecacc253c89fcc680b,
title = "Do Hostile Mergers Destroy Jobs?",
abstract = "This paper provides a systematic empirical analysis of the employment effects of hostile takeovers in the United Kingdom for the period 1983–1996. It finds no evidence for distinguishing between friendly and hostile acquisitions in terms of their impact on labour demand. Indeed, each type of transaction appears to have an immediate negative impact on labour demand, equivalent to about 7.5 percent of the pre-merger level. However, the paper does find that the absolute number of employees falls substantially, along with output, in the hostilemerger case alone. This appears to be the consequence of a high level of post-merger divestment that distinguishes hostile transactions.",
keywords = "Mergers, Acquisitions , Panel data , Labour demand",
author = "Martin Conyon and S Girma and S Thompson and P Wright",
year = "2001",
month = aug,
doi = "10.1016/S0167-2681(01)00155-X",
language = "English",
volume = "45",
pages = "427--440",
journal = "Journal of Economic Behavior and Organization",
issn = "0167-2681",
publisher = "Elsevier",
number = "4",

}

RIS

TY - JOUR

T1 - Do Hostile Mergers Destroy Jobs?

AU - Conyon, Martin

AU - Girma, S

AU - Thompson, S

AU - Wright, P

PY - 2001/8

Y1 - 2001/8

N2 - This paper provides a systematic empirical analysis of the employment effects of hostile takeovers in the United Kingdom for the period 1983–1996. It finds no evidence for distinguishing between friendly and hostile acquisitions in terms of their impact on labour demand. Indeed, each type of transaction appears to have an immediate negative impact on labour demand, equivalent to about 7.5 percent of the pre-merger level. However, the paper does find that the absolute number of employees falls substantially, along with output, in the hostilemerger case alone. This appears to be the consequence of a high level of post-merger divestment that distinguishes hostile transactions.

AB - This paper provides a systematic empirical analysis of the employment effects of hostile takeovers in the United Kingdom for the period 1983–1996. It finds no evidence for distinguishing between friendly and hostile acquisitions in terms of their impact on labour demand. Indeed, each type of transaction appears to have an immediate negative impact on labour demand, equivalent to about 7.5 percent of the pre-merger level. However, the paper does find that the absolute number of employees falls substantially, along with output, in the hostilemerger case alone. This appears to be the consequence of a high level of post-merger divestment that distinguishes hostile transactions.

KW - Mergers

KW - Acquisitions

KW - Panel data

KW - Labour demand

U2 - 10.1016/S0167-2681(01)00155-X

DO - 10.1016/S0167-2681(01)00155-X

M3 - Journal article

VL - 45

SP - 427

EP - 440

JO - Journal of Economic Behavior and Organization

JF - Journal of Economic Behavior and Organization

SN - 0167-2681

IS - 4

ER -