Que deviennent les entreprises acquises par des groupes?

Abstract

In this paper, we analyze the trajectory of independent firms absorbed by a business group. Business groups traditionally buy high performance independent firms but do they also contribute to their growth after? We use an original dataset built with two administrative files and a survey and we are able to follow firms 3 years before and 3 years after their acquisition by a business group. We use matching difference-in-differences estimators in order to check whether the employment and productivityin independent firms increase after their acquisition by a business group. Not surprisingly, our results first show that acquired firms are more productive than those which stay independent; second, they show that, after acquisition, employment and productivity increase faster for acquired firms. © Revue d'économie industrielle.