Research On The Value Realization Of Continuous Multinational M & A Driven By Technology Innovation

In recent years,China's economy has maintained rapid development,the consumption structure has been continuously upgraded,and consumer demand has changed significantly.The focus has gradually shifted to the quality and differentiation of products,and the economic competition between enterprises has also shifted From comparative advantage to competitive advantage.In a competitive market,the increased demand for product differentiation means that companies need to improve their competitiveness,and through technological innovation,provide products that meet consumer needs to ensure the long-term development of the company.As we all know,after years of protection,the automotive industry has a huge gap with its developed countries in terms of core technology.Although there are many ways to obtain technology sources,cross-border mergers and acquisitions are easier to catch up in the short term.Such mergers and acquisitions are often the reverse transfer of knowledge,and the subsequent integration becomes the key point for the success of mergers and acquisitions.Based on this phenomenon,many enterprises no longer make occasional single mergers and acquisitions,but instead strengthen their merger and acquisition capabilities through continuous mergers and acquisitions,effectively increasing the success rate of cross-border mergers and acquisitions.Most of the existing literatures are about the relationship between technological innovation and cross-border mergers and acquisitions.There is a lack of research on continuous cross-border mergers and acquisitions driven by technological innovation.In view of this,this article intends to choose Geely Automobile in the automotive industry as a case study object to study the relationship between technological innovation,cross-border mergers and acquisitions,and continuous mergers and acquisitions.First,it introduces the M & A drivers of Geely Auto 's M & A events,the selection of M & A targets,and the value of M & A.Secondly,based on resource-based theory and dynamic capability theory,research the value realization path of cross-border M & A driven by technological innovation.Thirdly,by analyzing how continuous mergers and acquisitions act on cross-border mergers and acquisitions,the mechanism of the realization of the value of continuous cross-border mergers and acquisitions is summarized.Finally,based on the research content of this article,we provide relevant suggestions for enterprises on the realization mechanism of continuous cross-border M & A value.The following conclusions can be drawn from the research in this article: First,auto companies carrying out highly targeted cross-border mergers and acquisitions based on the drivers of technological innovation can effectively and directly compensate for their shortcomings and achieve innovation performance.Second,explore the three-stage M & A path based on technology innovation-driven cross-border M & A value realization,that is,technology introduction-technology application-technology innovation.Third,the continuous merger and acquisition model can accelerate the accumulation of resources,enhance integration capabilities,and achieve self-worth enhancement.It also lays the foundation for the next merger and acquisition,and then forms a circular upgrading role to ensure the effective conduct of cross-border mergers and acquisitions.This article is no longer confined to the study of the relationship between technological innovation and cross-border mergers and acquisitions,but to establish the three roles of technological innovation,cross-border mergers and acquisitions,and continuous mergers and acquisitions.In addition,this article puts forward the point that the enterprise's cross-border M & A is the main body and the continuous M & A is the model,which has certain enlightenment significance for the enterprise's future M & A plan.