Download This PaperThe Effects of Mergers on Firms' Social Status: An Event History Analysis
Hitotsubashi University, COE/RES Discussion Paper No. 262
44 Pages Posted: 4 Feb 2009 Last revised: 7 Jul 2010
Date Written: February 3, 2009
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
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