Abstract

http://ssrn.com/abstract=1994247
 
 

References (26)



 


 



The Wage Premium of Globalization: Evidence from European Mergers and Acquisitions


Harald Oberhofer


University of Salzburg - Department of Economics and Social Sciences

Matthias Stockl


affiliation not provided to SSRN

Hannes Winner


University of Salzburg - Department of Economics and Social Sciences; Austrian Institute of Economic Research (WIFO); University of Oxford - Oxford University Centre for Business Taxation; University of Innsbruck - Department of Economics & Statistics

2012

Economics Discussion Paper No. 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.

Number of Pages in PDF File: 16

Keywords: Globalization, mergers and acquisitions, wage effects, propensity score matching

JEL Classification: C21, F15, G34, J31

working papers series


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Date posted: January 28, 2012  

Suggested Citation

Oberhofer, Harald and Stockl, Matthias and Winner, Hannes, The Wage Premium of Globalization: Evidence from European Mergers and Acquisitions (2012). Economics Discussion Paper No. 2012-6. Available at SSRN: http://ssrn.com/abstract=1994247 or http://dx.doi.org/10.2139/ssrn.1994247

Contact Information

Harald Oberhofer (Contact Author)
University of Salzburg - Department of Economics and Social Sciences ( email )
Residenzplatz 9
Salzburg, 5020
Austria
Matthias Stockl
affiliation not provided to SSRN
No Address Available
Hannes Winner
University of Salzburg - Department of Economics and Social Sciences ( email )
Residenzplatz9
Salzburg, 5010
Austria
Austrian Institute of Economic Research (WIFO) ( email )
P.O. Box 91
Wien, A-1103
Austria
University of Oxford - Oxford University Centre for Business Taxation ( email )
Saïd Business School
Park End Street
Oxford, OX1 1HP
United Kingdom
University of Innsbruck - Department of Economics & Statistics ( email )
Universitatsstrasse 15
Innsbruck, A-6020
Austria
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