Research On The Influence Of Midea Group's Technology Merger And Acquisition On Enterprise Innovation Performance

With the industrial structure and consumption upgrade,the home appliance industry has gradually entered the era of intelligent manufacturing.Under this circumstance,home appliance companies urgently need to upgrade their technological innovation capabilities,transform and upgrade,and get rid of industry pressure.At the same time,technology mergers and acquisitions lead the global trend,more and more companies choose technology mergers and acquisitions as an effective way to enhance their technological innovation capabilities.As a typical representative of the home appliance industry,Midea Group has gradually adopted technology mergers and acquisitions as one of the ways to transform its intelligent strategy.Therefore,this paper takes the technology acquisition of Midea Group as the research object,and studies the effect of its technology merger and acquisition,in order to provide reference for the transformation and upgrading of domestic appliance industry and even high-tech enterprises.This paper systematically sorts out the related literatures of motivation and innovation performance of technology mergers and acquisitions,and analyzes the motivations,schemes and processes of technology mergers and acquisitions based on resource-based theory,comparative advantage theory and synergy theory.This paper uses Data Envelopment Analysis(DEA)to study the innovation performance of enterprise technology after mergers and acquisitions,and then analyzes the impact path of technology mergers and acquisitions to improve enterprise innovation performance.On this basis,the financial indicators analysis method is used to analyze the financial effects brought by the improvement of innovation performance,and the event research method is used to analyze the market effect brought by the improvement of enterprise innovation performance.Finally,relevant suggestions were made for this technology acquisition.Based on the case study of the technology acquisition of Midea Group and KUKA Group,this paper draws the following conclusions:(1)The integration of resources for technology mergers and acquisitions has improved the industrial chain of Midea Group,which has brought new profit growth points to Midea Group;(2)Technology mergers and acquisitions have promoted the innovation performance of Midea Group;(3)The transformation of scientific and technological achievements as well as the commercialization of new products,it takes a certain amount of time.The financial effect brought by the improvement of innovation performance has not changed significantly in the short term;(4)The long-term market reaction of technology mergers and acquisitions in the capital market has been significant.