Research On The Effect Of External Technology Acquisition In Open Innovation On Firm Performance

With the change of the competitive environment and the increase of technical complexity,external technology acquisition in open innovation has become an important means to acquire technology and an important part of corporate technology strategy.External technology acquisition has an important influence on enriching enterprise technical resources,improving tec hnical capacity and the direction of firms' development,and thus affects firm performance.While more and more companies choose to acquire technology from outside,practice areas knows little about the impact of external technology acquisition on firm performance and the mechanism of the influence process.As an important part of open innovation,external technology acquisition receives widespread concern in academia,and its impact on performance is an important research direction.In existing research,there are a lot of studies about the influence of external technology acquisition on innovation performance,but few studies about the influence of external technology acquisition on firm performance,and lack of studies about the mechanism of the impact of external technology acquisition on firm performance.The degree of external technology acquisition is one of perspectives to study external technology acquisition.The existing research usually measure the degree of external technology acquisition with the cooperation situation between enterprise and external knowledge sources,and few studies analyze the degree of external technology acquisition with the situation of using external technology acquisition mode.In practice,companies will use a variety of external technology acquisition modes to carry on external technology acquisition.Analyzing the extent of external technology acquisition with the situation of using external technology acquisition mode has important theoretical and practical significance.Based on the above analysis,this paper researches the impact of external technology acquisition on firm performance from the perspective of the extent of external technology acquisition,and further exploring the mechanism of the impact,using the situation of adopting external technology acquisition mode to analyze the degree of external technology acquisition.This paper defines the core concepts of the study-external technology acquisition and firm performance,analyzing the background,motivation,internalization and application process of external technology acquisition.From the different attributes of external technology acquisition,analyzing the impact of external technology acquisition on firm performance combining with the resource-based theory,strategic management theory and social network theory,etc.Based on previous studies and theoretical analysis,the paper proposes two concepts-product diversification and dynamic capacity,analyzing the effect of the two concepts on the relationship between of external technology acquisition and firm performance after defining them respectively.Based on the above analysis,the paper builds a theoretical analysis framework about the impact of external technology acquisition on firm performance,prov iding theoretical foundation for the future study.The paper adopts the progressive logical thinking,exploring the mechanism of the influence of external technology acquisition on firm performance layer by layer under the guidance of theoretical framework.Firstly,the paper studies the main effect of external technology acquisition on firm performance.From the perspective of external technology acquisition mode,the paper uses external technology acquisition breadth and external technology acquisition de pth to reflect the degree of external technology acquisition.Proposing hypotheses on the basis of theoretical analysis,testing them with high-tech manufacturing a-share listed companies in Shenzhen and Shanghai stock exchange from 2012 to 2013.The empirical results show that external technology acquisition depth has a significant positive impact on firm performance,and external technology acquisition breadth has no significant impact on firm performance.Secondly,according to the progressive research ideas,on the basis of the study about the main effect of external technology acquisition on corporate performance,the paper studies the mediate effect of product diversification on the relationship and the moderate effect of dynamic capabilities on the re lationship respectively,which are paratactic relationship.The intermediary role of product diversification,based on the conclusion that external technology acquisition breadth has no significant impact on firm performance,the present study analyses and tests the mediate effect model of product diversification on the relationship between external technology acquisition depth and firm performance.The results show that external technology acquisition depth has a significant positive impact on product diversification,product diversification has a significant positive impact on firm performance,and product diversification has a partial mediate effect on the relationship between external technology acquisition depth and firm performance.The moderating role of dynamic capabilities,this paper divides dynamic capabilities into absorptive capacity,adaptive capacity and innovative capacity,analysing and testing the moderate effect model of these three dimensions on the relationship between external technology acquisition and firm performance respectively.The regression results show that absorptive capacity and adaptive capacity have significant positive moderate effect on the relationship between external technology acquisition depth and firm performance,innovative capacity has no moderate effect on the relationship,and all the three dimensions of dynam ic capabilities have no moderating effect on the relationship between external technology acquisition breadth and corporate performance.Again,on the basis of the mediate effect of product diversification,the paper further researches the moderate effect of dynamic capabilities on the mediate effect of product diversification.Based on the conclusion that product diversification only has mediate effect on the relationship between external technology acquisition depth and corporate performance,the present study analyses and tests the moderated mediation model of dynamic capabilities on this mediation path.The regression analysis and path analysis results show that all the three dimensions of dynamic capabilities have significant positive moderate effect on the relationship between external technology acquisition depth and product diversification,innovative capacity has the first phase moderate effect on the mediate effect of product diversification,and absorptive capacity and adaptive capacity have no moderate effect on the mediate effect of product diversification.Against to the shortage of the current study about the impact of external technology acquisition on firm performance,the paper deeply studies the impact of external technology acquisition on firm performance and the mechanism of the impact progress from the perspective of the extent of external technology acquisition.In theory,this stud y contributes to complement the research findings about the impact of external technology acquisition on performance,enrich the connotation of the concept of degree of technology acquisition,and reveal the mechanism of the impact of external technology a cquisition on firm performance.In practice,this study has guiding effect on enterprises external technology acquisition behavior,corporate process control of the impact of external technology acquisition on firm performance,and improv ement the performance of external technology acquisition.