Merger and the returns to labour and investment

George Bittlingmayer

Applied Economics Letters, 1996, vol. 3, issue 3, 145-148

Abstract: 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.

Date: 1996
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DOI: 10.1080/135048596356546

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