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Shocks to Firm Organization – The Case of Foreign Acquisitions

Author

Listed:
  • Michael Koch
  • Luca Macedoni
  • Angelina Odintsova

Abstract

This paper studies how foreign acquisitions affect firms’ internal labor organization, particularly occupational switching. This focus is inspired by new stylized facts we document using linked employer-employee data from Denmark: while the total number of occupations and hierarchical layers in firms remains stable, a significant share of firms simultaneously add and drop occupations and layers each year. Applying a dynamic two-way fixed effects matching estimator, we find that foreign acquisitions lead to significant reorganization within firms: though the number of layers or occupations remains unchanged, firms exhibit substantial occupational churning among existing workers, especially among higher-paid employees.

Suggested Citation

  • Michael Koch & Luca Macedoni & Angelina Odintsova, 2024. "Shocks to Firm Organization – The Case of Foreign Acquisitions," CESifo Working Paper Series 11525, CESifo.
    • Handle: RePEc:ces:ceswps:_11525
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    More about this item

    Keywords

    occupation switching; firm organization; foreign acquisitions;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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