Research On Technological Synergy Effect Of Cross-border Mergers And Acquisitions

In recent years,under the background of many domestic companies seeking industrial transformation and upgrading,the demand and scale of Chinese enterprises’ cross-border mergers and acquisitions have increased substantially.One of the key motives is to obtain advanced foreign technology and further improve independent research and development capabilities.To achieve technological leapfrogging and transformation and upgrading.However,most of the mergers and acquisitions did not achieve the expected performance.One of the main reasons was that China’s post-merger integration capacity was insufficient,resulting in no technical synergy.Therefore,it is particularly necessary to study how to achieve technical cooperation through effective integration.This article takes Geely’s cross-border acquisition of Volvo as a specific case,using case study method and comparative analysis method,on the one hand,analyzes the implementation approaches of its post-acquisition technology integration measures and technology synergy;on the other hand,it analyzes its innovation performance before and after merger from multiple angles.Performance,and compared horizontally with the average levels of Geely’s main competitors Chery Automobile,BYD Auto,Changan Automobile,and Great Wall Motor in their own brand car companies,and assessed Geely’s R&D capabilities and technological innovation level and industry average after the merger and acquisition.Whether or not to obtain an additional boost compared to whether the technology synergy effect of this acquisition is achieved is achieved.Through these specific studies,this paper draws three conclusions:First,Chinese companies can achieve technological synergy through cross-border technology mergers and acquisitions and effective integration measures to achieve technological leapfrogging;and second,the establishment of a solid mutual trust relationship after the completion of mergers and acquisitions is a technology integration The important prerequisites for smooth development include the establishment of an important means of mutual trust,including the full authorization of the joint operations and management,and the promotion of performance improvement by the parties.Third,the technology integration of M&A parties can be achieved through technology transfer,the establishment of a cooperative R&D platform,etc.Realization,in which technology transfer is a relatively rapid and direct means of access to advanced technology,and the establishment of a cooperative R&D platform can build a technical cooperation and exchange mechanism between the two sides,is a more in-depth and long-term technology integration means.Finally,based on the above three conclusions,this article proposes four policy proposals for cross-border mergers and acquisitions of corporate technologies in China:First,Chinese companies can actively seek cross-border technology acquisitions to achieve technological leapfrogging;Second,both parties must fully establish mutual trust before technology integration.Relationships;thirdly,technology can be quickly and effectively acquired through the technology transfer process at the beginning of the technology integration process;and fourthly,the establishment of a cooperative R&D sharing mechanism should be promoted in the process of technology integration.