Foreign acquisition and internal organization
利用葡萄牙企业和工人二十年的数据，研究发现外资收购导致企业规模扩大、管理层级增加以及顶层与底层工资差距拉大，这支持了知识型层级理论。
We study the effect of foreign takeovers on firm organization. Using a comprehensive data set of Portuguese firms and workers spanning two decades, we find that foreign acquisitions lead to: (1) an expansion in the scale of operations; (2) a higher number of hierarchical layers; and (3) higher wage inequality between the top and bottom layers. These results accord with a theory of knowledge-based hierarchies in which foreign takeovers lead to improved productivity, higher demand, or reduced internal communication costs, and thereby induce the acquired firms to reorganize. Evidence from auxiliary survey data reveals that acquired firms are more likely to use information technologies that reduce internal communication costs. (C) 2018 Published by Elsevier B.V.