FengQiu Li
ABSTRACT
Fierce competition urges enterprises to continuously increase their pursuit of new technologies, technological M&A have become more and more important approaches for companies to be open innovation because they are conducive to enterprises to obtain strategic resources and core capabilities for R&D and innovation.
This paper selects listed companies in the biopharmaceutical industry with high technological demand and active M&A as the research objects from 2013 to 2016. Firstly, using a paired Student's t test verify that the technical acquisition can actively promote the business innovation performance. Secondly, using the fixed-effect negative binomial model on technology M&A to analyze the influence of M&A mode, R&D capabilities and M&A experience factors on the relationship between technology M&A and innovation performance. Results show that the M&A experience and related industry technology M&A play a positive role in regulating the relationship between technology M&A and innovation performance.
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Index Terms
- Negative binomial model in the impact of Corporate Technology M&A on Innovation Performance
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