Information Technology and the Dynamics of Firm and Industrial Structure

Internet, Disruptive technology, Market structure, Computers, IT consultancies

Evaluating the Effects of Mergers and Acquisitions on Employees: Evidence from Matched Employer-Employee Data

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 different types of mergers and acquisitions on employees. Specifically, we analyze linked employer employee data for the entire population of Swedish workers and over 19,000 manufacturing plants for the period 1985-1998. For each worker, we have data on gender, age, national origin, level of education, type of education, location, industrial sector, annual earnings, as well as each employee’s complete work history both before and after a merger or acquisition. We can also identify whether the plant was involved in a full or partial acquisition or divestiture, as well as a related or unrelated acquisition. The empirical evidence suggests that employee outcomes are more favorable when only part of the company is bought or sold or when the firm engages in an unrelated acquisition.

Assessing the Effects of Mergers and Acquisitions on Firm Performance, Plant Productivity, and Workers: New Evidence from Matched Employer-Employee Data

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 antecedents and consequences of firm, plant, and worker turnover. Our empirical analysis is based on longitudinal, linked employer-employee data for virtually the entire population of Swedish manufacturing firms and employees for the period 1985-1998. These data allow us to assess the effects of mergers and acquisitions on firm performance, plant productivity, levels of employment, and compensation. Consistent with human capital theory, we find that mergers and acquisitions lead to improvements in firm performance and plant productivity, although they also result in the downsizing of establishments and firms. These transactions also appear to enhance the careers of workers because they provide a mechanism for improving the sorting and matching or workers and managers to firms and industries that best suit their skills.

Political Instability and Growth in Dictatorships

We model growth in dictatorships facing each period an endogenous probability of ``political catastrophe'' that would extinguish the regime's wealth extraction ability. Domestic capital exhibits a bifurcation point determining economic growth or shrinkage. With low initial domestic capital the dictator plunders the country's resources and the economy shrinks. With high initial domestic capital the economy eventually grows faster than is socially optimal.dictatorship, growth, political economy, bifurcation

Ownership Change, Productivity, and Human Capital: New Evidence from Matched Employer-Employee Data in Swedish Manufacturing

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 human capital and have been based strictly on U.S. and U.K. data. We attempt to fill these gaps, based on an analysis of matched employer-employee data from over 19,000 Swedish manufacturing plants for the years 1985-1998. The sample covers virtually the entire population of manufacturing plants with 20 or more employees and a probability-based sample of smaller plants. We assess whether there are differential effects on productivity and human capital for different types of ownership changes, such as partial and full acquisitions and divestitures, and related and unrelated acquisitions. Our results suggest that ownership change results in an increase in relative productivity. We also find that plants involved in these transactions experience increases in average employee age, experience, and the percentage of employees with a college education. Ownership change also leads to an increase in wages and a reduction in the percentage of female workers. All of these patterns emerge most strongly for full acquisitions and divestitures and unrelated acquisitions.

Assessing the Effects of Ownership Change on Women and Minority Employees: Evidence from Matched Employer-Employee Data

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 analyzing linked employer-employee data for the entire population of Swedish workers and approximately 16,000 manufacturing plants for the period 1985-1998. For each worker employed in these establishments (as well as the entire population of workers), we have data on gender, age, national origin, level of education, type of education, location, industrial sector, annual earnings, as well as each employee's complete work history during the period. We also have data on numerous plant and firm-level characteristics, which allows us to control for additional factors that might result in changes in labor composition and relative compensation. Our findings suggest that ownership change does not significantly alter the relative earnings and employment status of minority and female workers.

An unusual new mammal from the Early Eocene of Wyoming

A newly discovered maxillary dentition from the Early Eocene rocks of the Bighorn Basin, Wyoming, is unlike that of any mammal previously known from this intensively collected region. It represents a new genus and species, here named Alocodon atopum. The new form bears superficial resemblance to various mammals, but specific features suggest a real relationship only to palaeanodonts, particularly Tubulodon taylori, aformof uncertain family ties, and the epoicotheriid Pentapassalus pearcei. The most significant features of the molars are their cylindrical shape, their odd cusp arrangement, and their reduced enamel. Because of its similarity to Tubulodon, Alocodon is tentatively allocated here to the Epoicotheriidae (Pholidota, Palaeanodonta). If correctly assigned, it represents the oldest known member of this poorly represented family and the first from the Bighorn Basin

Dental Function in the Plagiomenidae: Origin and Relationships of the Mammalian Order Dermoptera

221-236http://deepblue.lib.umich.edu/bitstream/2027.42/48487/2/ID337.pd

Indivo: a personally controlled health record for health information exchange and communication

<p>Abstract</p> <p>Background</p> <p>Personally controlled health records (PCHRs), a subset of personal health records (PHRs), enable a patient to assemble, maintain and manage a secure copy of his or her medical data. Indivo (formerly PING) is an open source, open standards PCHR with an open application programming interface (API).</p> <p>Results</p> <p>We describe how the PCHR platform can provide standard building blocks for networked PHR applications. Indivo allows the ready integration of diverse sources of medical data under a patient's control through the use of standards-based communication protocols and APIs for connecting PCHRs to existing and future health information systems.</p> <p>Conclusion</p> <p>The strict and transparent personal control model is designed to encourage widespread participation by patients, healthcare providers and institutions, thus creating the ecosystem for development of innovative, consumer-focused healthcare applications.</p