The Effect of Foreign Acquisitions on Total Factor Productivity: Plant-Level Evidence from U.K. Manufacturing, 1987–1992
比较了1987-1992年间被外资收购的英国工厂与其他同类工厂的表现，发现外资收购了英国企业中最有效率的工厂，但收购后生产率有所下降，可能与整合困难有关。
This paper compares the performance of U.K. plants that were acquired by the foreign-owned sector during 1987-1992 with other comparable subgroups of plants operating at the same time (including plants acquired by U.K.-owned companies). The principal aim is to consider the types of plants that were acquired and whether after acquisition they performed above or below average when compared to other manufacturing plants. The results show that foreign-owned enterprises acquired the most-productive plants previously operated by U.K. enterprises. After acquisition, there is some evidence that productivity declined, which would be consistent with difficulties associated with assimilating these established plants into the new organization. © 2002 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology