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On Productivity and Plant Ownership Change
其他書名
New Evidence from the Longitudinal Research Database
出版
Rand Corporation
, 1995
URL
http://books.google.com.hk/books?id=BwzToAEACAAJ&hl=&source=gbs_api
註釋
In this article we examine the type of establishment that experiences ownership change and how the transferred properties perform after acquisition. Our empirical work uses an unbalanced panel of 28,294 plants taken from the Longitudinal Research Database (LRD) for the period 1977-1987. We find that (1) ownership change is generally associated with the transfer of plants with above average productivity, but large plants are more likely to be purchased, rather than closed, when they are performing poorly; and (2) transferred plants experience improvement in productivity performance. These results suggest that the managerial-discipline theory cannot be used to explain most ownership changes.