文澜金融论坛（第310期）

摘要：

We gauge labor market competition using job postings and show that firms tend to acquire companies that are their local labor competitors. Cross-sectional analyses indicate local labor market competitor acquisitions are more likely in industries with greater corporate culture similarities, more binding labor non-compete agreements, and non-rival product market competitors. Using a quasi-experiment, we find employees’ perceptions of compensation and career outlooks are negatively affected following a merger between firms that are local labor market competitors, suggesting that this type of merger reduces the welfare of the labor market due to the change in the competition environment.

主讲人介绍：

沈沉，美国北卡罗来纳大学金融学博士，现任加拿大安大略理工大学金融系助理教授。他的研究成果得到了学术界的广泛认可，其中包括在《Industrial and Corporate Change》等期刊上发表的论文，以及多篇在《Journal of Banking & Finance》《Quarterly Journal of Finance》等期刊审稿中的工作论文。他的研究不仅关注于金融市场和企业的微观层面，还致力于探讨社会和环境因素对金融市场的影响。