{"id":"https://openalex.org/W1835803191","doi":"https://doi.org/10.1002/mde.2650","title":"The Wage and Employment Consequences of Ownership Change","display_name":"The Wage and Employment Consequences of Ownership Change","publication_year":2013,"publication_date":"2013-09-23","ids":{"openalex":"https://openalex.org/W1835803191","doi":"https://doi.org/10.1002/mde.2650","mag":"1835803191"},"language":"en","primary_location":{"id":"doi:10.1002/mde.2650","doi":"https://doi.org/10.1002/mde.2650","is_oa":true,"landing_page_url":"https://doi.org/10.1002/mde.2650","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1002/mde.2650","source":{"id":"https://openalex.org/S138400101","display_name":"Managerial and Decision Economics","issn_l":"0143-6570","issn":["0143-6570","1099-1468"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Managerial and Decision Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1002/mde.2650","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5077740508","display_name":"Kevin Amess","orcid":"https://orcid.org/0000-0002-2447-1988","observed_orcids":["https://orcid.org/0000-0002-2447-1988"]},"institutions":[{"id":"https://openalex.org/I142263535","display_name":"University of Nottingham","ror":"https://ror.org/01ee9ar58","country_code":"GB","type":"education","lineage":["https://openalex.org/I142263535"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Kevin Amess","raw_affiliation_strings":["Nottingham University Business School, Jubilee Campus, Nottingham, UK"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Nottingham University Business School, Jubilee Campus, Nottingham, UK","institution_ids":["https://openalex.org/I142263535"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5007496251","display_name":"Sourafel Girma","orcid":"https://orcid.org/0000-0001-5815-1619","observed_orcids":["https://orcid.org/0000-0001-5815-1619","https://orcid.org/0000-0003-2957-9143"]},"institutions":[{"id":"https://openalex.org/I142263535","display_name":"University of Nottingham","ror":"https://ror.org/01ee9ar58","country_code":"GB","type":"education","lineage":["https://openalex.org/I142263535"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Sourafel Girma","raw_affiliation_strings":["School of Economics, University of Nottingham , Nottingham, UK"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Economics, University of Nottingham , Nottingham, UK","institution_ids":["https://openalex.org/I142263535"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5102961182","display_name":"Mike Wright","orcid":"https://orcid.org/0000-0002-5691-2418","observed_orcids":["https://orcid.org/0000-0002-5691-2418","https://orcid.org/0000-0001-7762-8785"]},"institutions":[{"id":"https://openalex.org/I47508984","display_name":"Imperial College London","ror":"https://ror.org/041kmwe10","country_code":"GB","type":"education","lineage":["https://openalex.org/I47508984"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Mike Wright","raw_affiliation_strings":["Centre for Management Buy-out Research, Imperial College Business School Exhibition Road, London, UK"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Centre for Management Buy-out Research, Imperial College Business School Exhibition Road, London, UK","institution_ids":["https://openalex.org/I47508984"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5077740508"],"corresponding_institution_ids":["https://openalex.org/I142263535"],"apc_list":{"value":3120,"currency":"USD","value_usd":3120},"apc_paid":{"value":3120,"currency":"USD","value_usd":3120},"fwci":0.0,"has_fulltext":true,"cited_by_count":17,"citation_normalized_percentile":{"value":0.25031413,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"35","issue":"2","first_page":"161","last_page":"171"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.7807999849319458,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.7807999849319458,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":0.13490000367164612,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10208","display_name":"Labor market dynamics and wage inequality","score":0.059700001031160355,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/leveraged-buyouts","display_name":"leveraged buyouts","score":0.984000027179718},{"id":"https://openalex.org/keywords/corporate-acquisition","display_name":"corporate acquisition","score":0.9909999966621399},{"id":"https://openalex.org/keywords/private-equity","display_name":"private equity","score":0.8429999947547913},{"id":"https://openalex.org/keywords/wage-increases","display_name":"wage growth","score":0.5360000133514404},{"id":"https://openalex.org/keywords/job-creation","display_name":"job creation","score":0.9700000286102295},{"id":"https://openalex.org/keywords/corporate-control","display_name":"corporate control","score":0.6110000014305115},{"id":"https://openalex.org/keywords/rationalization","display_name":"rationalization","score":0.7170000076293945},{"id":"https://openalex.org/keywords/employee-welfare","display_name":"employee welfare","score":0.7480000257492065},{"id":"https://openalex.org/keywords/ownership-change","display_name":"ownership change","score":0.7059999704360962}],"concepts":[{"id":"https://openalex.org/C37968372","wikidata":"https://www.wikidata.org/wiki/Q544886","display_name":"Rationalisation","level":2,"score":0.6669406890869141},{"id":"https://openalex.org/C2777388388","wikidata":"https://www.wikidata.org/wiki/Q6821213","display_name":"Wage","level":2,"score":0.6480988264083862},{"id":"https://openalex.org/C2776662940","wikidata":"https://www.wikidata.org/wiki/Q6770802","display_name":"Market for corporate control","level":4,"score":0.6097198128700256},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5951511263847351},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.5799873471260071},{"id":"https://openalex.org/C100243477","wikidata":"https://www.wikidata.org/wiki/Q12002092","display_name":"Welfare","level":2,"score":0.5693775415420532},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.5495532751083374},{"id":"https://openalex.org/C2775924081","wikidata":"https://www.wikidata.org/wiki/Q55608371","display_name":"Control (management)","level":2,"score":0.5390427112579346},{"id":"https://openalex.org/C71110296","wikidata":"https://www.wikidata.org/wiki/Q476115","display_name":"Private equity","level":2,"score":0.47048166394233704},{"id":"https://openalex.org/C2993530730","wikidata":"https://www.wikidata.org/wiki/Q65042393","display_name":"Wage growth","level":3,"score":0.44914039969444275},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.20438578724861145},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.17265000939369202},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.15866422653198242},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.13565146923065186},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.10145363211631775},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.06815788149833679},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C2524010","wikidata":"https://www.wikidata.org/wiki/Q8087","display_name":"Geometry","level":1,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1002/mde.2650","doi":"https://doi.org/10.1002/mde.2650","is_oa":true,"landing_page_url":"https://doi.org/10.1002/mde.2650","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1002/mde.2650","source":{"id":"https://openalex.org/S138400101","display_name":"Managerial and Decision Economics","issn_l":"0143-6570","issn":["0143-6570","1099-1468"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Managerial and Decision Economics","raw_type":"journal-article"},{"id":"pmh:oai:nottingham-repository.worktribe.com:717603","doi":null,"is_oa":true,"landing_page_url":"https://nottingham-repository.worktribe.com/output/717603","pdf_url":null,"source":{"id":"https://openalex.org/S4306402483","display_name":"Repository@Nottingham (University of Nottingham)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I142263535","host_organization_name":"University of Nottingham","host_organization_lineage":["https://openalex.org/I142263535"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"","raw_type":"Journal Article"},{"id":"pmh:oai:archive.ugent.be:6969707","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/1854/LU-6969707","pdf_url":"https://biblio.ugent.be/publication/6969707/file/6969727.pdf","source":{"id":"https://openalex.org/S4306400478","display_name":"Ghent University Academic Bibliography (Ghent University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I32597200","host_organization_name":"Ghent University","host_organization_lineage":["https://openalex.org/I32597200"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"ISSN: 1099-1468","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:https://nottingham-repository.worktribe.com/:717603","doi":null,"is_oa":true,"landing_page_url":"https://nottingham-repository.worktribe.com/output/717603","pdf_url":"https://nottingham-repository.worktribe.com/file/717603/1/wiley.pdf","source":{"id":"https://openalex.org/S4306402483","display_name":"Repository@Nottingham (University of Nottingham)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I142263535","host_organization_name":"University of Nottingham","host_organization_lineage":["https://openalex.org/I142263535"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Journal Article"},{"id":"pmh:oai:eprints.nottingham.ac.uk:2697","doi":null,"is_oa":true,"landing_page_url":"http://eprints.nottingham.ac.uk/2697/","pdf_url":null,"source":{"id":"https://openalex.org/S4306402014","display_name":"Nottingham ePrints (University of Nottingham)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I142263535","host_organization_name":"University of Nottingham","host_organization_lineage":["https://openalex.org/I142263535"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Article"}],"best_oa_location":{"id":"doi:10.1002/mde.2650","doi":"https://doi.org/10.1002/mde.2650","is_oa":true,"landing_page_url":"https://doi.org/10.1002/mde.2650","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1002/mde.2650","source":{"id":"https://openalex.org/S138400101","display_name":"Managerial and Decision Economics","issn_l":"0143-6570","issn":["0143-6570","1099-1468"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Managerial and Decision Economics","raw_type":"journal-article"},"sustainable_development_goals":[{"score":1.0,"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1835803191.pdf","grobid_xml":"https://content.openalex.org/works/W1835803191.grobid-xml"},"referenced_works_count":32,"referenced_works":["https://openalex.org/W615215593","https://openalex.org/W1480713262","https://openalex.org/W1515828664","https://openalex.org/W1590214724","https://openalex.org/W1980004848","https://openalex.org/W1981329092","https://openalex.org/W1994008784","https://openalex.org/W2002955697","https://openalex.org/W2015353363","https://openalex.org/W2019543736","https://openalex.org/W2023745293","https://openalex.org/W2029742719","https://openalex.org/W2043159738","https://openalex.org/W2043815368","https://openalex.org/W2046619151","https://openalex.org/W2047843183","https://openalex.org/W2053240625","https://openalex.org/W2078230522","https://openalex.org/W2103138323","https://openalex.org/W2124758339","https://openalex.org/W2135999543","https://openalex.org/W2160860931","https://openalex.org/W2206798519","https://openalex.org/W2519388419","https://openalex.org/W3121131820","https://openalex.org/W3121177630","https://openalex.org/W3121259908","https://openalex.org/W3121560182","https://openalex.org/W3122081254","https://openalex.org/W3122843734","https://openalex.org/W3125601827","https://openalex.org/W4231597735"],"related_works":["https://openalex.org/W1538009089","https://openalex.org/W2078230522","https://openalex.org/W1491935424","https://openalex.org/W1576314429","https://openalex.org/W4238845785","https://openalex.org/W3124940488","https://openalex.org/W2745697729","https://openalex.org/W7082565744","https://openalex.org/W1489245457","https://openalex.org/W1979211920"],"abstract_inverted_index":{"This":[0],"paper":[1],"provides":[2],"a":[3,45],"comparative":[4],"examination":[5],"of":[6,9,70,90],"the":[7,31,82,88],"consequences":[8],"leveraged":[10],"buyouts":[11],"(LBOs)":[12],"and":[13,19,30,60,100],"corporate":[14,85],"takeovers":[15,63],"on":[16,87],"employment":[17,66],"growth":[18],"wage":[20],"growth.":[21],"Employing":[22],"both":[23],"difference\u2010in\u2010differences":[24],"combined":[25],"with":[26],"propensity":[27],"score":[28],"matching":[29],"control":[32,86],"function":[33],"approach,":[34],"we":[35],"find":[36,76],"evidence":[37,73],"that":[38],"(i)":[39],"wages":[40,53],"remain":[41,54],"unchanged":[42,55],"after":[43,56],"either":[44],"private":[46],"equity":[47],"(PE)\u2010backed":[48],"or":[49],"non\u2010PE\u2010backed":[50],"LBO,":[51],"(ii)":[52],"an":[57],"unrelated":[58],"takeover":[59],"(iii)":[61],"related":[62],"have":[64],"negative":[65],"consequences,":[67],"possibly":[68],"because":[69],"rationalisation.":[71],"Our":[72],"does":[74],"not":[75],"strong":[77],"support":[78],"for":[79,84],"intervention":[80],"in":[81],"market":[83],"grounds":[89],"protecting":[91],"employees'":[92],"welfare.":[93],"Copyright":[94],"\u00a9":[95],"2013":[96],"The":[97],"Authors.":[98],"Managerial":[99],"Decision":[101],"Economics":[102],"published":[103],"by":[104],"John":[105],"Wiley":[106],"&":[107],"Sons,":[108],"Ltd.":[109]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":5},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}