| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4346 |
| 来源ID | Working Paper 4346 |
| Do Hostile Takeovers Reduce Extramarginal Wage Payments? | |
| Jagadeesh Gokhale; Erica L. Groshen; David Neumark | |
| 发表日期 | 1993-04-01 |
| 出版年 | 1993 |
| 语种 | 英语 |
| 摘要 | Hostile takeovers may reduce the prevalence of long-term employment contracts if they facilitate the opportunistic expropriation of extramarginal wage payments. Our tests of two versions of the expropriation hypothesis improve on existing research by using firm- and establishment-level data from an employer salary survey, and by performing both ex ante and ex post tests. First, we study the relationship between proxies for extramarginal wage payments and subsequent hostile takeover activity, and find little evidence of an expropriation motive. Then. since we observe wage and employment structures both before and after takeovers. we investigate whether proxies for extramarginal wages drop after hostile takeovers. The ex post experiments provide evidence consistent with one version of the expropriation hypothesis. In particular, such takeovers appear to reduce extramarginal wage payments to more-tenured workers, mostly through flattening wage-seniority profiles in firms with relatively senior work forces. |
| 主题 | Microeconomics ; Households and Firms ; Labor Economics ; Labor Compensation |
| URL | https://www.nber.org/papers/w4346 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561709 |
| 推荐引用方式 GB/T 7714 | Jagadeesh Gokhale,Erica L. Groshen,David Neumark. Do Hostile Takeovers Reduce Extramarginal Wage Payments?. 1993. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w4346.pdf（346KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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