The Influence Of Cultural Differences On Innovation Performance Of Transnational Technology Mergers And Acquisitions

Economic intercourse is one of the main modes of communication in the international community,and the transnational operation of enterprises has become the consensus of the international community and a trend of investment intercourse.In recent years,Chinese enterprises have gradually participated in the process of acquiring overseas enterprises,and through transnational technology mergers and acquisitions,they have enhanced their technology development ability and innovation level,expanded their international market share,and improved their core competitiveness.However,through the experience of "going out" of Chinese enterprises,their transnational technology mergers and acquisitions are still faced with considerable difficulties and challenges.In the current literature studies,there is no consistent conclusion about the impact of cultural differences on the performance of technological innovation,which is mainly caused by the different measurement indexes,samples and research time intervals selected by individuals.This thesis listed on the Shanghai and Shenzhen from 2010 to 2016 of China's private enterprises as the research object,put forward in this thesis,through the analysis of the related theoretical mechanism assumption,for Chinese enterprises to go out after M&A overseas enterprise on the technical innovation performance of the empirical analysis,to find real factors,explore suitable modes for China's overseas investment innovation management integration of M&A measures and strategies,promote Chinese enterprise to raise the level of innovation,increase revenue,improve the social and economic benefits.This thesis firstly introduced the selected topic background and significance,secondly analyzed the related theory of mechanism and put forward the hypothesis of this thesis,and expounds the selection of variables for this article,the last in the empirical research,this thesis listed on the Shanghai and Shenzhen in 2010-2016 of 138 China's private listed companies as the research object,the change of the enterprise before and after the new authorized patents by M&A to measure the innovation performance of enterprise,studies the relevant variables influence on innovation performance technology mergers and acquisitions,and further discusses the M&A experience variables to the cultural differences between innovation and technology M&A performance relationship adjustment.In this thesis,the empirical study found that cultural differences influence on innovation performance is inverted "U" type,at the beginning of the mergers and acquisitions,cultural differences may be for the merger of the two sides have complementary knowledge and skills,to achieve the desired effect of the M&A integration,in this case,the existence of cultural differences is positive influence multinational technology innovation performance of M&A.And after this period of time,namely "M&A honeymoon period",the cultural differences between the two parties,especially the difference of organizational factors,social factors andindividual factors differences,etc,can cause further integration difficulties on both sides,the last may be due to poor matching between culture and failed to achieve expected goals.This thesis finds that both knowledge base and human capital have positive effects on the innovation performance of transnational technology mergers and acquisitions.Finally,based on the empirical research results,this thesis puts forward some sugge stions,hoping to bring new ideas of cross-border mergers and acquisitions to Chinese private enterprises going global,and help enterprises to achieve sustainable innovation and development.