This study investigates the impact of mergers on employment and employees’ wages in Japan, based on 111 mergers between listed firms observed between 1990 and 2003. Typically, the number of employees decreases by 4.45% three years after a merger, even after changes in sales and other variables...

We examine the performance of firms that are controlled by founding families in Japan. We construct a new data set on founding families, which includes data on founding family ownership, family management, and generation of family senior managers. We find that about 36% of listed firms are...