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

WEN  Cheng-Yu; LIU  Zhi-Xin

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Science Research Management ›› 2011, Vol. 32 ›› Issue (5) : 1-7,28.

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

Wen Chengyu, Liu Zhixin

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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.

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technological M&A / technological knowledge base / innovation performance

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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

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