| Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2010: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2009: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2008: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2007: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
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| Research Abstract |
This study investigates the impact of merger on employment and employees' wage in Japan, based on 111 mergers between listed firms, observed between 1990 and 2003. Typically, the number of employees decreases by 3.338% three years after the merger even after we control changes in sales and other variables. Firms with more senior employees are more likely to reduce workers after merger. Secondly, wages increase by 437,851 yen per employee per year after merger. Firms in related merger, and non-rescue merger are more likely to increase their wages. These relations persist even if we control variables such as sales and employees' age. These results show that main motivation behind merger is not to expropriate employees of their wealth.
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