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Ramin Baghai, Associate Professor of Finance, Stockholm School of Economics
Tuesday 19 October 2021, 13:00-14:15
Online seminar – How do acquisitions affect the mental health of employees?
- 👤 Speaker: Ramin Baghai, Associate Professor of Finance, Stockholm School of Economics
- 📅 Date & Time: Tuesday 19 October 2021, 13:00 - 14:15
- 📍 Venue: via zoom
Abstract
Using employer-employee level data linked to individual health records, we document that the incidence of stress, anxiety, depression, psychiatric medication usage, and even suicide increase following acquisitions. These effects are prevalent among employees from both targets and acquirers, in weak as well as in growing, profitable firms. Employees who experience negative career developments within the merging firms, ‘blue-collar’ workers, and employees with lower cognitive and non-cognitive skills are most affected. A variety of tests address endogeneity concerns, including an analysis exploiting failed mergers. Our findings point to mental illness as a significant non-pecuniary cost of acquisitions.
Series This talk is part of the Finance Seminars, CJBS series.
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