企业跨国并购中，产业进入模式是企业战略决策的重要内容，而技术匹配能力则决定着企业能否将关联业务拓展转化成企业竞争优势。以长三角地区186家从事跨国经营的企业为研究对象为基础，探讨了企业跨国并购过程中业务关联与技术匹配之间的内在逻辑联系，并分析其对企业国际竞争力可能产生的影响作用。研究结果表明：企业跨国并购过程中，业务关联程度需要通过技术匹配能力影响对企业国际竞争力产生影响作用。当外部环境动态性日益提升时，业务关联程度与技术匹配能力之间的正向联系就越强，而技术匹配能力与企业国际竞争力之间的影响关系则不受影响。因此，环境动态性进一步加强了技术匹配能力在业务关联程度与企业国际竞争力之间的中介效应。

whether entering related industry or not is linked seriously to firm’s international competitiveness. This paper obtains the data from 186 cross-border M&A enterprises in Chang sanjiao area, to analyze the effect between degree of business ties and firm’s international competitiveness. The result shows that: technology fit has a mediating effect between degree of business ties and firm’s international competitiveness during Chinese companies’ M&A process. The higher degree of environment dynamics, the more close between the degree of business ties and technology fit, but has no influencing effect between technology fit and firm’s international competitiveness. In a word, environment dynamics moderates the mediating effect of technology fit between degree of business ties and firm’s international competitiveness.