The Study On The Technology Integration Risks In Technology Sourcing Overseas M&A For Chinese Enterprises

From the perspective of technical correlation, this paper discussed technical similarity and complementarity as a mechanism that effects technology integration risks in technology sourcing overseas M & A.In this paper the concept of risk of technology integration, is emphasized as the uncertainty of the new technology output level that are brought by technology integration,which are shown as a lower level of new technology outcome in practice.On the basis of theoretical analysis on the risk mechanism that technological similarity and complementarity has, this paper applies multi-agent simulation technology to make further explanation of the technology integration risk evolution phenomenon in the role of them following the time. And combining the examples of technology sourcing overseas M & A of Chinese enterprises, this paper made empirical test on the effect that technological similarity and complementarity have on the technology integration risk.This paper found technical similarity cannot control the technology integration risk obviously, and complementary techniques can effectively reduce the technology integration risk in technology sourcing overseas M & A for Chinese enterprises. On the basis of the empirical analysis,this paper emphasizes the value of target selection phase, because the type and degree of the correlation of technology is an important factor of the success of technology integration after M & A.On one hand technology similarity has positive significance on the M&A integration,on the other hand, technology similarity can decline the exploring and learning power of M & A companies in the process of technology integration,which should be given high attention.At the same time, Chinese enterprises should pay attention to the positive role that technology complementarity play in the control of technology sourcing overseas M & A technology integration risk.Our study is meaningful to the success of the technology integration in technology sourcing overseas M & A for Chinese enterprises and their improvement of the technological ability.