Mergers, jobs, and wages in the United States telecommunications industry
研究了1988至2001年间美国电信公司多次并购对就业和工资的影响，发现首次并购促进就业和工资增长，而第二次并购（含多起大型并购）导致就业停滞或下降、工资水平降低。
This article evaluates the human capital consequences of several mergers of local exchange companies that took place between 1988 and 2001 in the telecommunications industry of the United States. Most firms in the sector underwent one merger event while other firms underwent two events. The levels of jobs and average wages in the firms are assessed after the merger events and analysis reveals that, while the first merger events experienced by firms led to growth in employment and compensation, second merger events, which included several mega-mergers of the late 1990s and early 2000s, have led to stagnation and decline in employment levels and to negative human capital outcomes with declines in wage levels.