Research On Reverse Knowledge Transfer Capability Of Chinese Enterprises’ Overseas Mergers And Acquisitions

From the study of the internationalization behavior of Chinese enterprises,it is found that created assets seeking is widely recognized as one of the main drivers of Chinese enterprises’ foreign direct investment.Due to the limitations of Chinese enterprises’ own knowledge and technology level,they have strong mergers and acquisitions(M&A)trends for enterprises from developed countries with higher knowledge levels.The key to achieve created assets seeking lies in reverse knowledge transfer from the host country with higher knowledge potential to Chinese enterprises.However,the reverse knowledge transfer of cross-border M&A by Chinese enterprises is not smooth.On the one hand,as the exporter of reverse knowledge transfer,the host country’s transfer willingness,knowledge type,teaching capability and transfer channels all have direct impact on Chinese enterprises’ acquisition of knowledge.On the other hand,due to their own reasons such as insufficient knowledge stock,weak absorptive capacity,and relatively backward management level,Chinese enterprises often cannot dominate in the reverse knowledge transfer of cross-border M&A.Therefore,how to enhance the capability of reverse knowledge transfer,and control and guide the completion of reverse knowledge transfer has become the important issue for Chinese enterprises to enhance their core competitiveness in cross-border M&A.This thesis takes the reverse knowledge transfer of Chinese enterprises cross-border M&A as the research object,sorts out the related concepts and contents of the reverse knowledge transfer of cross-border M&A,and defines the connotation and composition of the reverse knowledge transfer capability.Combining the Chinese enterprises’ characteristics of cross-border M&A and knowledge management practice,this thesis analyzes the impact of influencing factors of reverse knowledge transfer on their capabilities and dynamic process,designs the research system for the reverse knowledge transfer capability of Chinese enterprises in cross-border M&A,comprehensively evaluates the capability of reverse knowledge transfer,and proposes the safeguard measures to facilitate the smooth progress of Chinese enterprises knowledge transfer in cross-border M&A,which enhance the overall technological capabilities and competitive advantages of Chinese enterprises.The main research content of this thesis is as follows:Firstly,this thesis analyzes the reverse knowledge transfer behavior of Chinese enterprises’ cross-border M&A,defines the connotation and composition of the reverse knowledge transfer capability.Taking the reverse knowledge transfer of Chinese enterprises’ cross-border M&A as the focus point,the concept of reverse knowledge transfer and related theories are analyzed,and the differences between reverse knowledge transfer and positive knowledge transfer are distinguished.The connotation and constituent elements of the reverse knowledge transfer capability of cross-border M&A are determined.All these lay the theoretical foundation for building the evaluation system of Chinese enterprises’ the reverse knowledge transfer capabilities in cross-border M&A.Secondly,this thesis reveals the formation mechanism of reverse knowledge transfer in Chinese enterprises’ cross-border M&A.Through the analysis of the created assets seeking and the international market demand orientation,this thesis explores the motivations for the reverse knowledge transfer of Chinese enterprises’ cross-border M&A,focusing on the subject,content,and carrier of reverse knowledge transfer,also analyzes the influencing factors of reverse knowledge transfer such as knowledge characteristics,transfer willingness,parent-subsidiaries distance,transfer capability,and transfer situation.According to this,this thesis explores the interaction relationship between each factor and parent-subsidiary company and the formation mechanism of reverse knowledge transfer behavior.Thirdly,the network evolutionary game method is adopted to make simulations of the mechanism of reverse knowledge transfer.This thesis mainly analyzes the applicability of network evolutionary game in reverse knowledge transfer of cross-border M&A and makes the evolutionary game analysis between Chinese parent company and host country subsidiary companies.On the basis of model construction and numerical simulation settings,four different classical networks structure are used to make quantitative analysis for the reverse knowledge transfer behavior.And the mechanism of parameters such as transfer carrier,signal transmission noises,unit cost,effort cost,transfer mechanism,etc influencing the reverse knowledge transfer capability and their influence on the reverse knowledge transfer capability are reached.The fourth part of this thesis is to construct the index system that measures the reverse knowledge transfer capability of Chinese enterprises’ cross-border M&A.Drawing on the research results of domestic and foreign experts and scholars,this thesis combines the characteristics of reverse knowledge transfer in Chinese enterprises’ cross-border M&A,and establishes the evaluation index system for reverse knowledge transfer capability from five levels: subsidiaries’ transfer ability,parent company’s absorptive capacity,richness of knowledge transmission channels,selection ability,knowledge content characteristics,and situational control ability.The social network analysis method is used to screen the index system,and analyze the selected indicators.Based on the entropy weight triangular fuzzy function,the TOPSIS method is applied to construct the evaluation model of reverse knowledge transfer.Four reverse knowledge transfer practice of three companies in cross-border M&A are compared and evaluated,and the rationality and scientificity of the index system of reverse knowledge transfer capability is verified.Ultimately,this thesis puts forward the countermeasures and suggestions to improve the reverse knowledge transfer capability of Chinese enterprises in cross-border M&A.The discussion and research are mainly from subsidiaries’ transfer ability,parent company’s absorptive capacity,richness of knowledge transmission channels,selection ability,knowledge content characteristics,and situational control ability.The strategies for enhancing the reverse knowledge transfer capability are proposed,which provides decision support for the stable development of Chinese enterprises after cross-border M&A.