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Title:The wage premium of globalization: Evidence from European mergers and acquisitions PDF Logo
Authors:Oberhofer, Harald
Stöckl, Matthias
Winner, Hannes
Issue Date:2012
Series/Report no.:Economics Discussion Papers 2012-6
Abstract:We provide evidence on the impact of globalization on labor market outcomes analyzing pay differences between foreign-acquired and domestically-owned firms. For this purpose, we use firm level data from 16 European countries over the time period 1999-2006. Applying propensity score matching techniques we estimate positive wage premia of cross-boarder merger and acquisitions (M&As), suggesting that foreign acquired firms exhibit higher short-run (post-acquisition) wages than their domestic counterparts. The observed wage disparities are most pronounced for low paying firms (with average wages below the median). Finally, we find systematic wage premia in Western European countries, but not so in Eastern Europe.
Subjects:Globalization
mergers and acquisitions
wage effects
propensity score matching
JEL:C21
F15
G34
J31
Creative Commons License:http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type:Working Paper
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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