中文摘要：

本文利用我国制造业企业数据检验了外资并购的工资效应。本文采用匹配的研究方法,发现外资并购的工资效应显著为正;对不同要素密集度、不同并购资本来源地、不同区域的子样本回归,结果均高度稳健;我们还发现外资并购更利于资本密集型及中西部企业的工资提升,工业化国家的并购资本有更大的工资效应。

英文摘要：

This paper examines the wage effect of foreign M＆As on the acquired enterprises using China＇s Manufacturing Firms Data. We employ matching methods and find that foreign M＆As have significant positive wage effect. The result exhibits highly robust under various conditions, such as different factor intensities, different origins of acquiring firms, different areas. In addition, we find that foreign M＆As show stronger wage effect on enterprises that belong to capital ＆ technology intensive and are located in central and western areas. Targets acquired by firms from industrial countries show larger wage effect.