技术并购对高技术上市公司创新绩效的影响

温成玉; 刘志新

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科研管理 ›› 2011, Vol. 32 ›› Issue (5) : 1-7,28.

论文

技术并购对高技术上市公司创新绩效的影响

温成玉, 刘志新

作者信息 +

The impact of technological M&A on innovative performance of high-tech listed companies

Wen Chengyu, Liu Zhixin

Author information +

文章历史 +

摘要

利用现存知识并获取、吸收外部知识是公司提高创新能力的关键。技术并购作为公司获取外部知识源的有效手段,日益受到公司青睐。通过对2001-2008年我国高技术上市公司为主并方的96起技术并购的实证研究,文章得出以下结论:技术并购对并购公司的创新绩效影响为正,非技术并购对并购公司创新绩效没有显著影响;目标公司技术知识基础规模对并购后并购公司的创新绩效影响为负;目标公司与并购公司技术知识基础的相对规模对并购后并购公司的创新绩效影响为负。研究结果为上市公司技术并购决策提供实证依据。

Abstract

To improve innovation capability by using existing knowledge and acquiring, absorbing external knowledge is the key to the company's innovative capability. By taking 96 technological M＆A events of Chinese high-tech listed companies from 2001 to 2008 as an example,the empirical research shows that technology M&A has a positive effect on the innovation performance of the acquiring firm, non-technology M&A has a insignificant effect on the innovation performance of the acquiring firm. The absolute size of the acquired knowledge base has a negative effect on the innovative performance of the acquiring firm, while the relative size of the acquired knowledge base reduces the innovative performance of the acquiring firm.

导出引用

温成玉, 刘志新. 技术并购对高技术上市公司创新绩效的影响[J]. 科研管理. 2011, 32(5): 1-7,28

Wen Chengyu, Liu Zhixin. The impact of technological M&A on innovative performance of high-tech listed companies[J]. Science Research Management. 2011, 32(5): 1-7,28

中图分类号： F272.3

参考文献

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