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UID:27c7dbab3607bf33e1853331c07f63b4
DTSTAMP:20260927T134044Z
SUMMARY:Dr. Chad Syverson\, Chicago Booth
DESCRIPTION: \n\n“Acquisitions\, Productivity\, and Profitability: Eviden
 ce from the\nJapanese Cotton Spinning Industry”\n\nAbstract: We explore 
 how changes in ownership affect the productivity\nand profitability of pro
 ducers. Using detailed data from the Japanese\ncotton spinning industry at
  the turn of the last century\, we find that\nacquired firms’ production
  facilities were not on average less\nphysically productive than the plant
 s of the acquiring firms before\nacquisition. They were much less profitab
 le\, however\, due to higher\ninventory levels and lower capacity utilizat
 ion—differences that\nreflected problems in managing the uncertainties o
 f demand. After\nacquisitions\, less profitable acquired plants saw drops 
 in inventories\nand gains in capacity utilization that raised both their p
 roductivity\nand profitability levels.\n 
DTSTART:20150417T180000Z
DTEND:20150417T193000Z
LOCATION:http://home.uchicago.edu/syverson/acquisitions.pdf
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