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Unionization and Acquisitions

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  • Fallick, Bruce C
  • Hassett, Kevin A

Abstract

This article explores the question of whether unionization influences the decision of a firm to merge with another firm. The authors combine merger data, taken from COMPUSTAT, with firm-specific union data obtained from several sources. An econometric matching model allows them to isolate the effects of unionization on the probability that the firms studied will be involved in a merger. The authors find that unionization increases the likelihood that a firm will enter the acquisition market and that firms with similar union statuses tend to merge with one another. Copyright 1996 by University of Chicago Press.

Suggested Citation

  • Fallick, Bruce C & Hassett, Kevin A, 1996. "Unionization and Acquisitions," The Journal of Business, University of Chicago Press, vol. 69(1), pages 51-73, January.
    • Handle: RePEc:ucp:jnlbus:v:69:y:1996:i:1:p:51-73
    DOI: 10.1086/209679
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    Cited by:

    1. Sheng-Syan Chen & Yan-Shing Chen & Yanzhi Wang, 2015. "Does Labor Power Affect the Likelihood of a Share Repurchase?," Financial Management, Financial Management Association International, vol. 44(3), pages 623-653, September.
    2. Fallick, Bruce C & Hassett, Kevin A, 1999. "Investment and Union Certification," Journal of Labor Economics, University of Chicago Press, vol. 17(3), pages 570-582, July.
    3. Chen, I-Ju & Chen, Yan-Shing & Chen, Sheng-Syan, 2018. "The strategic choice of payment method in corporate acquisitions: The role of collective bargaining against unionized workers," Journal of Banking & Finance, Elsevier, vol. 88(C), pages 408-422.
    4. Jiyun Cao & Arijit Mukherjee & Uday Bhanu Sinha, 2020. "The implications of labour unions in the presence of a merger," Manchester School, University of Manchester, vol. 88(4), pages 575-583, July.
    5. Martin J. Conyon & Sourafel Girma & Steve Thompson & Peter W. Wright, 2004. "Do Wages Rise or Fall Following Merger?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(5), pages 847-862, December.
    6. Najlaa Kallousa & Youngki Jang & Boochun Jung & Hussein Warsame, 2023. "Labor unions and post‐acquisition integration capability: Evidence from goodwill impairment," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(3-4), pages 764-794, March.
    7. Vo, Hong & Nguyen, Hien T. & Phan, Hieu V., 2024. "Corporate social responsibility and the choice of payment method in mergers and acquisitions," International Review of Financial Analysis, Elsevier, vol. 94(C).

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