publication . Article . 2012

Impact of M&A on the Employment in Japanese Companies

Hiroyuki Taguchi; Taichi Yanagawa; Masashi Harita;
Open Access
  • Published: 01 Jan 2012 Journal: Public Policy Review, volume 8, issue 5 November, pages 581-608
Abstract
With utilizing Financial Statements Statistics of Corporation by Industry, we analyzed the impact of M&A on the employment in Japanese companies. In this study, the impact of M&A on the employment was extracted by developing panel data for fiscal year 1995 to 2008 targeting 9,880 sample companies including 3,697 cases of M&A to estimate a labor demand model. Major findings of the study are described below. First, dynamically positive effect was confirmed mainly in the manufacturing industry as the effect of "acquisition" on the employment in companies to be acquired (business expansion / growth effect of acquisition). Second, dynamically negative effect was conf...
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