Abstract
ABSTRACT We estimate causal treatment effects of domestic and foreign acquisitions on plant survival, employment (growth) and the skill composition within acquired plants. To do so, we look at takeovers of private firms in Danish manufacturing and service sectors during the period 2002–2015. We use plant-, firm-, and industry-level information to control for the non-random selection of the acquisition targets, differentiated for domestic and foreign acquirers, by combining a difference-in-differences approach with a propensity score weighting estimator. Our results reveal positive effects on plant survival, employment (growth) and the skill intensity for domestic targets, while foreign targets reduce their skill intensity following an acquisition.
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