Hanley, Aoife; Zervos, Vasilios - In: International Journal of the Economics of Business 14 (2007) 2, pp. 283-297
Using data for 755 acquisitions of manufacturing firms in the UK over a seven year period from 1990 to 1996, we find that the direct effect of an acquisition induces a labour productivity dip in the immediate aftermath of a takeover. This dip is seen for UK, US and the rest of the world...