科技并购对上市公司创新绩效的影响

Chengyu Wen, Zhixin Liu
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引用次数: 1

摘要

本文选取专利数作为创新绩效替代变量,运用面板数据负二项回归模型实证检验技术并购对高新技术产业上市公司创新绩效的影响。研究表明,非技术并购对企业创新成果的影响不显著;收购知识库的绝对规模对收购企业的创新绩效有正向影响;而收购知识基础的相对规模对收购企业的创新绩效有负向影响。研究结果为上市公司技术并购提供了实证依据。
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The impact of technological M&As on innovative performance of listed companies
This article selects the patent number as an innovation performance alternative variable to test the impact of technology mergers on the innovative performance in high-tech industries listed companies empirically by using the panel data negative binomial regression model. It shows that non-technical merger acquisition has no significant influence on the innovation achievements for a company; the absolute size of the acquired knowledge base makes a positive impact on the innovative performance of the acquiring firm; while the relative size of the acquired knowledge base has a negative effect on the innovative performance of the acquiring firm. These results provide the empirical basis of technology mergers & acquisitions for the listed company.
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