Research On Value Creation Of Cross-Border M&A Of Electronic Enterprises From The Perspective Of Ambidextrous Innovation

In the era of knowledge economy,innovation is vital to the growth and development of high-tech enterprises.As an essential part of hightech enterprises,Chinese electronic enterprises as an important part of high-tech enterprises,there is still a lack of innovation capacity.Technological innovation can promote the long-term development of electronic enterprises in the fierce market competition.Although there are many ways to obtain innovative resources,cross-border M&A is easier to achieve technological catch-up in the short term.In view of the rapid development of technological change,it is difficult to meet the needs of enterprises by relying on the traditional innovation mode to achieve technological catch-up.Companies can carry on the ambidextrous innovation to the acquired resources to drive value creation.Taking BOE as an example,this paper explores how enterprises carry out ambidextrous innovation through M&A,absorption and integration of resources,and find the relationship among ambidextrous innovation,cross-border M&A and value creation.On the one hand,based on the ambidextrous innovation theory,the realization path of value creation after BOE’s cross-border merger is divided into three stages:value recognition period,value integration period and value creation period,and the realization way of BOE’s ambidextrous innovation in different stages is analyzed.On the other hand,the event study method and principal component analysis method are used to analyze the market performance and innovation performance of BOE’s cross-border M&A to judge whether BOE’s cross-border M&A has created value.It is found that BOE’s ambidextrous innovation of M&A resources has contributed to R&D growth and the effective use of resources has brought value to the company.Synthesizing the above research,the paper makes relevant suggestions on the value creation of cross-border mergers and acquisitions of electronics companies under the perspective of ambidextrous innovation.Electronic enterprises should choose M&A enterprises according to their own strategies,identify external resources through the enhancement of exploration capability,then use the absorptive capability to complete dual integration,and realize value creation by ambidextrous innovation.