Research On The Influence Of Cross-border Technology M&A On Enterprise Innovation Performance

The domestic automobile industry started late and has a relatively short development time.From a technical perspective,the technical foundation,innovation capabilities,and reserves of talent are all obstacles to the development of independent brand automobile companies.To develop the automobile industry,we must master the core technologies.Take SAIC’s acquisition of Rover,Geely’s acquisition of Volvo,and other examples,some car companies have implemented cross-border technology M&A.Their strategy is to use technology acquisition based on international mature technologies to achieve "technical blood transfusion".However,the majority of these cross-border technology M&A did not meet their expectations.Therefore,whether cross-border technology M&A can really improve innovation performance,what are the important factors that affect it,and what mechanism is used to improve innovation performance are still controversial and worthy of further study.This thesis systematically sorts out relevant literature on cross-border technology M&A and innovation performance.Based on the resource-based theory,knowledge-based theory,and absorptive capacity theory,the case of Geely Auto cross-border technology M&A is used as the research object.First,this thesis starts from the two dimensions of innovation process and innovation output,while adding the main competitors of independent brand automobile companies Changan Auto,Great Wall Auto and BYD Auto to conduct a horizontal comparison,fully measures the innovation performance of Geely Auto after the acquisition,and then explores the influence factors and influence mechanisms on its innovation performance.Through the above studies,the author found that:(1)Cross-border technology M&A promoted the improvement of Geely’s innovation performance;(2)The strong complementarity of the resources of both parties in the M&A,the appropriate integration measures of the acquirer,and the experience of cross-border M&A all created positive effects on the innovation performance;(3)Geely Auto has achieved innovation performance improvement after M&A through technology transfer mechanism,absorption learning mechanism,personnel mobility mechanism and R&D expenditure sharing mechanism.Finally,relevant suggestions were made for cross-border technology M&A.The conclusions drawn in this thesis are:(1)Domestic enterprises can effectively improve innovation performance by implementing cross-border technology M&A,and achieve technological and innovation level development;(2)The complementarity of resources between the two parties in M&A,cross-border M&A experience,and post-merger integration measures will affect the performance of innovation performance;(3)Enterprises should pay attention to R&D investment after M&A,enhance their own absorption capabilities,and better achieve integration and absorption.The theoretical and case analysis of this thesis provides a reference for other companies’ future transnational technology M&A,especially for independent brand automobile companies,and has theoretical and practical significance.