A Study The Co-evolution Of Technology Sourcing Cross-border M&as Integration And Innovation Network Reconfiguration

This paper studies the co-evolution of technology sourcing cross-border mergers and acquisitions(M&As)integration and innovation network reconfiguration.Lacks of time-efficient integration strategies and limited embedding effects of global innovation networks are the main practical problems faced by Chinese cross-border M&As now,altogether with a lack of dynamic view on integration study.This paper joins cross-border M&A integration and innovation network reconfiguration on "relational embeddedness-structural embeddedness-positional embeddedness" levels into a co-evolutionary framework.It studies the optimal cross-border M&As integration in view of innovation network reconfiguration,which contributes to the depth and brandth of global innovation network cooperations by Chinese cross-border M&AsThis paper proposes the following research questions:(1)Considering three kinds of innovation network embeddedness,whether there exists unique feature of the co-evolutionary mechanism of cross-border M&As post-merger and different kinds of innovation embeddedness?(2)What are the degrees of influence made by post-merger integration on technology innovation through different kinds of innovation embeddedness?(3)Considering the spanning of organizational boundary of post-merger process,how can we realize the co-evolution of cross-border post-merger and depth of relational embeddedess of innovation network to improve technology innovation?(4)Considering the spaning of geographical boundary of post-merger process,how can we realize the co-evolution of cross-border post-merger and bridging of structural embeddedess of innovation network to improve technology innovation?(5)Considering the spaning of learning boundary in the post-merger process,how can we realize the co-evolution of cross-border post-merger and assortativity of positional embeddedess of innovation network to improve technology innovation?In order to answer the research questions,the paper gives theoretical analysis of post-merger integration and innovation network reconfiguration and empirically tests the theoretical propositions using the sample of 2001-2013 Chinese technology sourcing cross-border M&As.Firstly,the paper studies the patterns of the co-evolution of post-merger integration and three kinds of innovation network embeddedness.Secondly,It studies the co-evolution of cross-border post-merger and innovation embeddedess reconfiguration in the sequence of relational embeddedess,structural embeddedess and positional embeddedess.?Considering organizational boundary spanning,based on dynamics of transaction costs,the paper analyzes the co-evolutionary mechanism of cross-border post-merger and the reconfiguration of relational embeddedness depth.I construct a mathematical model of cross-country governance,supported by empirical tests of the coevolution mechanism using propensity score matching-difference in difference(PSM-DID)method and the innovation effect of the coevolution using negative binomial regression.?Considering geographical boundary spanning,based on the efficiency of third-party regulation,the paper analyzes the co-evolutionary mechanism of cross-border post-merger and the reconfiguration of structural embeddedness bridging.I construct a two-stage coordination game and a multi-agent simulation,supported by empirical tests of the coevolution mechanism using dynamic panel system generalized method of moments(GMM)and the innovation effect of the coevolution using simultaneous equations model(SEM).?Considering learning boundary spanning,based on adaptive learning,the paper analyzes the co-evolutionary mechanism of cross-border post-merger and the reconfiguration of positional embeddedness assortativity.I construct a coupling-coordination model,supported by empirical tests of the coevolution mechanism using Cox model and survival analysis and the innovation effect of the coevolution using negative binomial regression.This paper draws the following conclusions:There exists different co-evolutionary mechanisms of cross-border M&A post-merger and the innovation network reconfiguration of relational embeddedess,structural embeddedess and positional embeddedess.(1)The dynamic integration behavior of high target autonomy in the initial integration stage and low target autonomy in the subsequent integration stage positively co-evolves with the depth of the innovation network relational embeddedess,which enhances innovation collaborations.(2)The acquirer can expand the integration boundary along the host country and narrow along the home country,which endogenously improves the geographical cluster of the innovation network and realizes technology innovation based on the coevolution of cross-border M&A post-merger and reconfiguration of structural embeddedess bridging.(3)The inter-stage improvement of integration degree and innovation network assortativity has a co-evolutionary effect,which promotes innovation after M&AsThis paper makes the following contributions.It highlights the dynamic research framework of cross-border post-merger integration based on the view of network embeddedess,which contains"relational embeddedness-structural embeddedness-positional embeddedness" of innovation network reconfiguration.It realizes the collaborative evolution analysis of cross-border M&As integration and innovation network reconfiguration based on the characteristics of "time and space restructuring".Based on periodic and dynamic views,it contribute to the co-evolutionary mechanisms through direct ties,indirect ties and network position.This paper contributes to Chinese technology sourcing cross-border acquirers,which helps the acquirers to optimize the relation,structure and status of innovation network through optimal dynamic selection of cross-border M&As integration,providing strategic deployment for the acquirer's enterprises to improve the embedding depth and brandth of global innovation network.It provide theoretical supports for M&As integration and global network governance in open innovation.