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The Effects of Mergers on Firms' Social Status: An Event History Analysis

Takashi P. Shimizu
University of Tokyo - Graduate School of Arts and Sciences

February 3, 2009

Hitotsubashi University, COE/RES Discussion Paper No. 262

Abstract:
In this paper, I present a new approach to investigate the effects of mergers. I focused on the impact of mergers on firms' social status and reputation. I argue why this is a good approach for judging the effects of mergers. I conduct an empirical analysis on the data of 1,831 Japanese firms for the years between 1949 and 2005. As a result, I find that mergers had a positive effect on a firm's preservation of social status, but this effect disappeared from late 1990s. The implication of these findings was discussed.

Keywords: Mergers, Long-term Effect, Social Status, Reputation, Event History Analysis

Working Paper Series

Date posted: February 04, 2009 ; Last revised: February 21, 2009

Suggested Citation

Shimizu, Takashi P., The Effects of Mergers on Firms' Social Status: An Event History Analysis (February 3, 2009). Hitotsubashi University, COE/RES Discussion Paper No. 262. Available at SSRN: http://ssrn.com/abstract=1336912

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Contact Information

Takashi SHIMIZU (Contact Author)

University of Tokyo - Graduate School of Arts and Sciences ( email )

3-8-1 Komaba
Meguro-ku
Tokyo, Tokyo 153-8902
Japan