Productivity and Changes in Ownership of Manufactoring Plants
Productivity and Changes in Ownership of Manufactoring Plants
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生产工厂的生产率和所有权变化
DOI：
10.2307/2534451
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发表时间：
1987
影响因子：
3.2
通讯作者：
D. Siegel
中科院分区：
文献类型：
--
作者：
F. Lichtenberg;D. Siegel
自20世纪70年代初以来，美国的数量一直在下降。S.涉及合并，收购和其他所有权变更的公司显著增加：从1974年的926宗完成交易增加到1981年的2,326宗，1986年的4,024宗。这一数字实际上大约每六年或七年翻一番（表1）。在1980年至1986年期间，相关公司的价值增长了近6倍，远远超过了消费者价格指数33%的增长和生产者价格指数17%的增长。这些事态发展激发了关于所有制变化的后果，特别是对经济效率的影响的激烈辩论。这场辩论具有潜在的重要政策影响，因为已经提出了大量旨在限制合并和收购，特别是恶意收购的合并和收购的联邦和州立法。“这种立法是否
SINCE the early 1970s the number of U. S. companies involved in mergers, acquisitions, and other types of ownership change has increased markedly: from 926 completed transactions in 1974 to 2,326 in 1981, and 4,024 in 1986. The number has in effect doubled about every six or seven years (table 1). And the value of the companies involved increased almost sixfold between 1980 and 1986, far outpacing the 33 percent increase in the consumer price index and the 17 percent increase in the producer price index. These developments have stimulated intense debate on the consequences of changes in ownership, particularly for economic efficiency. The debate has potentially important policy implications, because a considerable amount of federal and state legislation aimed at restricting mergers and acquisitions, especially those resulting from hostile takeovers, has been proposed.' Whether such legislation is