Mergers, Acquisitions and Employment Duration

David Margolis

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: This paper uses a unique data set of linked employer-employee data in which asset transfers between firms can be identified to study the manner in which employment policy changes in the aftermath of a merger or acquisition (M&A). Using parametric duration models with unobserved heterogeneity and modeling the status of the employer with respect to M&A activity, it appear that the employment policy of the firm changes radically after an M&A with respect to the "steady state". Not only do various observed characteristics impact the probability of continued employment in a different manner after an M&A, but the distribution of unobserved characteristics that affect employment changes - reflecting differences in the stock of previous employees and the flow of new hires - as does the impact of this heterogeneity on employment durations.

Keywords: Employment duration; Mergers and Acquisitions; Linked Employer-Employee Data; Durée d'emplois; Fusions et acquisitions; données longitudinales appariées employeur-employé (search for similar items in EconPapers)
Date: 2007-05
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Published in Society of Labor Economists annual meetings, May 2007, Chicago, Illinois, United States

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Working Paper: Mergers, Acquisitions and Employment Duration (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-00363595

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