The Influence Path Of Absorptive Capacity On Innovation Performance Under Technology Mergers And Acquisitions

In the context of globalization,Chinese enterprises are moving forward to the front of the global value chain,expecting to transform from capital-driven enterprises to innovation-driven enterprises.Looking at the current situation of the market,the capital competition among all industries has gradually shifted to the control of technology.From the proposal of the 19 th National Congress to accelerate the construction of an innovative country,it can be seen that the competition in science and technology has risen to the national level.Technological innovation is not only one of the key driving factors of economic growth,but also the core element of enterprise competition.There are two ways of technological innovation: one is internal R＆D innovation to improve innovation performance;the other is to acquire new technology through strategic alliance,patent purchase,enterprise cooperation,technology acquisition and other external acquisition,among which technology acquisition is an important way to obtain external technological resources.Among the many factors affecting innovation performance of technological m＆a,most of the researches focus on technological similarity,technological complementarity and knowledge base and have achieved some results,but few researches on absorptive capacity of enterprises.In fact technology after m＆a integration effect and innovation output depends on the target enterprise high absorption ability,absorption capacity is one of the important factors,access to external resources conversion output based on this,this article from the perspective of absorptive capacity,using the case method,is an object with haier m＆a Italian Candy,multinational technology to the enterprise merger and acquisition case study,This paper analyzes the influence path of absorptive capacity on innovation performance in transnational technology m＆a.Absorptive capacity is divided into three dimensions: recognition and acquisition,digestion and absorption,transformation and application.To study the effects of different dimensions of absorptive capacity on innovation performance path,found that identify and obtain capability that allows firms to choose match its strategic target of enterprise mergers and acquisitions,digestion and absorption ability to make the enterprise can obtain external resources to analyze and understand the technology,transformation and application ability can promote the generation of new knowledge new technology,Achieve effective improvement of R＆D capacity and innovation output.Finally,the economic consequences of absorptive capacity on innovation performance are analyzed from the two dimensions of financial performance and non-financial performance,and it is concluded that the financial performance declines in several years after m＆a,but the non-financial performance significantly improves.