| 中国制造业上市公司并购创新绩效研究 |
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| 引用本文： | 张峥,聂思.中国制造业上市公司并购创新绩效研究[J].科研管理,2016,37(4):36-43. |
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| 作者姓名： | 张峥 聂思 |
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| 作者单位： | 上海理工大学管理学院 |
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| 基金项目： | 国家自然科学基金，沪江基金“研究基地专项”，上海市一流学科项目 |
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| 摘 要： | 近年来,随着技术的快速发展,并购成为企业获取技术创新能力的重要方式。本文通过构建负二项回归经济计量模型,对中国制造业上市公司1999-2013年的并购绩效进行了实证研究。研究表明:技术并购能促进并购企业创新绩效,非技术并购对创新绩效无显著影响;目标企业知识基础绝对规模对并购创新绩效产生倒U型的影响,并购企业知识基础绝对规模对创新绩效无显著影响;相比类似性技术和不相关性技术,互补性技术并购能够显著促进并购企业创新绩效。
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| 关 键 词： | 制造业 上市公司 并购创新绩效 |
| 收稿时间： | 2014-08-07 |
A research on M&A innovation performance of China's manufacturing listed corporations |
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| Zhang Zheng,Nie Si.A research on M&A innovation performance of China's manufacturing listed corporations[J].Science Research Management,2016,37(4):36-43. |
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| Authors: | Zhang Zheng Nie Si |
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| Institution: | Business School, Shanghai University of Science and Technology, Shanghai 200093, China |
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| Abstract: | Abstract: In recent years, with the rapid development of technology and the speeding of product updating, M&A has become an important way for enterprises to obtain technology innovation ability. By establishing a negative binomial regression econometric model, and measuring the M&A performance of technology innovation ability with enterprise patent number, this paper does empirical research of the M&A behavior of Chinese manufacturing listing corporations from year 1999 to year 2013. The results show: the technological M&A can promote innovation performance, non-technological M&A has no significant effect on innovation performance; absolute scale of the acquired firm knowledge base has inverted U type influence on M&A innovation performance, while absolute scale of the acquiring firm knowledge base has no significant effect on innovation performance; compared with similar technology and unrelated technology, complementary technology can significantly promote the enterprise innovation performance. |
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| Keywords: | manufacturing industry listing corporation M&A innovation performance |
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