Implicit contracts and acquisitions : An econometric case study of the 19th century Australian banking industry. / Seltzer, Andrew.

In: German Journal of Human Resource Management: Zeitschrift für Personalforschung, Vol. 31, No. 2, 01.05.2017, p. 185-208.

Research output: Contribution to journalArticlepeer-review

Published

Standard

Implicit contracts and acquisitions : An econometric case study of the 19th century Australian banking industry. / Seltzer, Andrew.

In: German Journal of Human Resource Management: Zeitschrift für Personalforschung, Vol. 31, No. 2, 01.05.2017, p. 185-208.

Research output: Contribution to journalArticlepeer-review

Harvard

Seltzer, A 2017, 'Implicit contracts and acquisitions: An econometric case study of the 19th century Australian banking industry', German Journal of Human Resource Management: Zeitschrift für Personalforschung, vol. 31, no. 2, pp. 185-208. https://doi.org/10.1177/2397002216682463

APA

Seltzer, A. (2017). Implicit contracts and acquisitions: An econometric case study of the 19th century Australian banking industry. German Journal of Human Resource Management: Zeitschrift für Personalforschung, 31(2), 185-208. https://doi.org/10.1177/2397002216682463

Vancouver

Seltzer A. Implicit contracts and acquisitions: An econometric case study of the 19th century Australian banking industry. German Journal of Human Resource Management: Zeitschrift für Personalforschung. 2017 May 1;31(2):185-208. https://doi.org/10.1177/2397002216682463

Author

Seltzer, Andrew. / Implicit contracts and acquisitions : An econometric case study of the 19th century Australian banking industry. In: German Journal of Human Resource Management: Zeitschrift für Personalforschung. 2017 ; Vol. 31, No. 2. pp. 185-208.

BibTeX

@article{bda3f85b23be4e10a08dd7f8c89c63d4,
title = "Implicit contracts and acquisitions: An econometric case study of the 19th century Australian banking industry",
abstract = "It has been argued that hostile takeovers redistribute wealth from workers to shareholders by enabling the acquiring firm to revoke implicit contracts. This paper uses micro-data from personnel records to examine the consequences of the Union Bank of Australia{\textquoteright}s 1892 takeover of the Bank of South Australia. The evidence confirms that the lifetime earnings of older workers at the BSA declined because of the merger. They faced a high probability of losing their jobs immediately following the merger, lost specific human capital due to the closure of branches, faced a flatter salary profile over the remainder of their career, and received a reduced pension.",
author = "Andrew Seltzer",
year = "2017",
month = may,
day = "1",
doi = "10.1177/2397002216682463",
language = "English",
volume = "31",
pages = "185--208",
journal = "German Journal of Human Resource Management: Zeitschrift f{\"u}r Personalforschung",
issn = "0179-6437",
publisher = "Rainer Hampp Verlag",
number = "2",

}

RIS

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AU - Seltzer, Andrew

PY - 2017/5/1

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N2 - It has been argued that hostile takeovers redistribute wealth from workers to shareholders by enabling the acquiring firm to revoke implicit contracts. This paper uses micro-data from personnel records to examine the consequences of the Union Bank of Australia’s 1892 takeover of the Bank of South Australia. The evidence confirms that the lifetime earnings of older workers at the BSA declined because of the merger. They faced a high probability of losing their jobs immediately following the merger, lost specific human capital due to the closure of branches, faced a flatter salary profile over the remainder of their career, and received a reduced pension.

AB - It has been argued that hostile takeovers redistribute wealth from workers to shareholders by enabling the acquiring firm to revoke implicit contracts. This paper uses micro-data from personnel records to examine the consequences of the Union Bank of Australia’s 1892 takeover of the Bank of South Australia. The evidence confirms that the lifetime earnings of older workers at the BSA declined because of the merger. They faced a high probability of losing their jobs immediately following the merger, lost specific human capital due to the closure of branches, faced a flatter salary profile over the remainder of their career, and received a reduced pension.

U2 - 10.1177/2397002216682463

DO - 10.1177/2397002216682463

M3 - Article

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EP - 208

JO - German Journal of Human Resource Management: Zeitschrift für Personalforschung

JF - German Journal of Human Resource Management: Zeitschrift für Personalforschung

SN - 0179-6437

IS - 2

ER -