Studies of the effects of mergers and acquisitions focus on a single unit of analysis: firms, plants, or workers. In contrast, we model these events as transactions that simultaneously have cross-levels effects. Based on the theory of human capital, we generate a set of predictions regarding the...

The unit of analysis in empirical studies of the employment and wage effects of mergers and acquisitions is typically the plant or firm. In contrast, the unit of observation in this study is the individual worker, which allows us to provide direct, systematic empirical evidence on the effects of...

This paper incorporates EGARCH modeling in a financial event study relating firm value to negative environmental news. News media provide informal information channels unlike formal government disclosure programs. This paper improves on previous studies by using a larger sample than most...

Empirical studies of the impact of changes in ownership of manufacturing plants on productivity (e.g., Lichtenberg and Siegel (1987, 1990a, 1990b), McGuckin and Nguyen (1995, 2001), and Maksimovic and Phillips (2001)) have provided limited evidence on how such transactions affect investment in...

While there have been numerous papers on the employment and wage effects of mergers and acquisitions, there has been no direct analysis of the impact of such ownership changes on minority and female workers. This is an unexplored "equity" dimension of these transactions. We fill this gap by...