The labor market effects of foreign owned firms

• 成果类型: Article
• 署名作者: Almeida, Rita
• 署名单位: The World Bank
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2006.10.001
• 发表日期: 2007
• 页码: 75-96
• 关键词: foreign direct investment; acquisitions; EMPLOYMENT; wage structure; panel data

摘要

Foreign firms have a more educated workforce and pay higher wages than domestic firms even after controlling for worker quality, at a given moment in time. This does not imply that foreign ownership improves the labor market outcomes of the workers since foreign investment may be guided by unobservable firm and worker characteristics correlated with schooling or wages. This paper asks whether foreign investors acquire firms with high human capital or wages, or whether foreign acquisition improves these outcomes. Using a matched employer-employee data set, I find that foreign acquisitions of domestic firms have small effects on the human capital and on average wages of the acquired firms. Instead, foreign investors cherry pick those domestic firms that are already very similar to the group of existing foreign firms. (C) 2006 Elsevier B.V. All rights reserved.