摘要
跨国并购是现代企业寻求发展的重要方式,企业通过跨国并购获取外部资源与信息,为企业创新能力的发展提供有效来源。本文关注跨国并购中企业创新绩效,考察并购动因对企业创新绩效的影响,以及吸收能力在并购动因与企业创新绩效之间的调节作用。本文基于2009—2016年上市公司并购数据,采用负二项回归方法进行实证研究发现:并购后,并购动因对企业创新绩效具有显著正效应;企业吸收能力对创新绩效同样有显著的正效应;吸收能力在并购动因与企业创新绩效之间的调节作用也为显著为正。
Cross-border mergers and acquisitions(M&A)is an important way for modern enterprises to seek for development.Enterprises obtain external resources and information through cross-border M&A,which provides an effective source for the development of enterprises’innovation ability.This paper focuses on the innovation performance of enterprises in cross-border M&A,examines the influence of M&A motivation on enterprise innovation performance and the moderating role of absorptive capacity between M&A motivation and enterprise innovation performance.Based on the data of M&A of listed companies from 2009 to 2016,the negative binomial regression method is used to carry out empirical research.It is found that after M&A,M&A motivation has significantly positive effect on enterprise innovation performance,absorptive capacity also has significantly positive effect on innovation performance,and the moderating role of absorptive capacity between M&A motivation and innovation performance is also significantly positive.
作者
王疆
黄嘉怡
WANG Jiang;HUANG Jia-yi(Business School,University of Shanghai for Science and Technology,Shanghai 200093)
出处
《北京邮电大学学报（社会科学版）》
2019年第2期84-91,共8页
Journal of Beijing University of Posts and Telecommunications(Social Sciences Edition)
基金
上海市哲学社会科学规划青年课题(项目编号:2017EGL010)
上海理工大学人文社会科学"攀登计划"(项目编号:SK18PB06)
关键词
并购动因
吸收能力
跨国并购
创新绩效
M&A motivation
absorptive capacity
cross-border M&A
innovation performance
