Integration and technology innovation in technology-sourcing M&As—A comparative study on overseas and domestic M&As of Chinese enterprises

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2022-09-02 DOI:10.1080/19761597.2022.2126866

Yao Chen

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Abstract

ABSTRACT Technology-sourcing mergers and acquisitions (M&As) has become an important instrument for enterprises to acquire new knowledge and build technological ability. To achieve technology innovation improvement, the choice of integration strategy is vitally important. The purpose of this paper is to explore the relationship between integration and innovation in technology-sourcing M&As. To verify our hypotheses, we conduct a comparative empirical study based on the data of overseas and domestic M&As of Chinese enterprises from 2000 to 2019. We find that for overseas M&As, the influence of integration degree on technology innovation depends on the resource characteristics of the two merging parties. In cases of high resource similarity and low resource complementarity, the degree of integration positively affects technology innovation, while in cases of low resource similarity and high resource complementarity, the degree of integration negatively affects technology innovation. In comparison, for domestic M&As, the degree of integration positively affects technology innovation.

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技术源并购中的整合与技术创新——中国企业中外并购比较研究

摘要技术源并购已成为企业获取新知识、培养技术能力的重要工具。要实现技术创新的提升，一体化战略的选择至关重要。本文旨在探讨技术源并购中整合与创新的关系。为了验证我们的假设，我们基于2000年至2019年中国企业海外和国内并购的数据进行了比较实证研究。我们发现，对于海外并购而言，整合程度对技术创新的影响取决于并购双方的资源特征。在高资源相似性和低资源互补性的情况下，整合程度对技术创新有正向影响，而在低资源相似性、高资源互补性情况下，融合程度对技术革新有负向影响。相比之下，对于国内并购而言，整合程度对技术创新有积极影响。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.