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

Abstract

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.

Key words: technological M&A, technological knowledge base, innovation performance

CLC Number:

F272.3

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.

References

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