Research on the impact and mechanism of technological distance on ambidextrous innovation performance of cross-border M&A — The moderation effect of cultural similarity

被引:0
|
作者
Su Y. [1 ]
Guo W. [1 ]
Sun X. [2 ]
机构
[1] School of Economics and Management, Harbin Engineering University, Harbin
[2] School of Management, Xi’an University of Architecture and Technology, Xi’an
基金
中国国家自然科学基金;
关键词
cross-border M&A; exploitation innovation; exploratory innovation; technical similarity; technology distance;
D O I
10.12011/SETP2022-2638
中图分类号
学科分类号
摘要
Taking the technology seeking cross-border M&A events of A-share listed companies in Shanghai and Shenzhen as the research sample, the technology distance is subdivided into technology gap and technology similarity according to vertical and horizontal dimensions. The negative binomial regression analysis method with adjustment term is used to analyze the impact mechanism of technology distance between M&A parties on the dual innovation performance of acquirer from the perspective of dual innovation. The regulatory role of cultural similarity between China and the host country on this influence mechanism is further discussed. The technology gap between the acquirer and the target has a significant negative impact on the explorative and exploitive innovation performance of the acquirer; Technological similarity has no significant impact on the explorative innovation performance of the acquirer, but has an inverted U-shaped impact on the exploitive innovation performance; Cultural similarity has a positive regulatory effect on the relationship between technology gap and explorative and exploitive innovation performance, and the relationship between technology similarity and explorative innovation performance. At the same time, cultural similarity can alleviate the threshold effect of technology similarity on exploitive innovation performance. The research conclusion enriches the theoretical research on cross-border M&A of companies in emerging economies at this stage, and also has a certain reference value for these companies to better “go global”. © 2023 Systems Engineering Society of China. All rights reserved.
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页码:1668 / 1685
页数:17
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