Empirical studies of mergers and acquisitions typically focus on firm-level financial performance. In contrast, we use human capital theory to model these events as transactions that simultaneously have cross-level, real effects on workers, plants, and firms. Our empirical analysis is based on...

The number of producers in the U.S. tire industry grew for 25 years and then declined sharply, and the industry evolved to be an oligopoly. The role of technological change in shaping the industry's market structure is explored. A model of industry evolution featuring technological change is...

The number of producers in the U.S. tire industry grew for 25 years and then declined sharply, and the industry evolved to be an oligopoly. The role of technological change in shaping the industry's market structure is explored. A model of industry evolution featuring technological change is...