Research On The Influence Path Of Knowledge Absorptive Capacity On The Performance Of Enterprises' Overseas M&A

The 18 th National Congress proposed that we should deeply implement the innovation-driven development strategy,enhance innovation ability and efficiency,and form a new way of economic development with scientific and technological innovation as its core.Driven by the "going out" policy and the economic interests,more and more Chinese enterprises choose to achieve performance improvement and strategic upgrading through overseas mergers and acquisitions.At present,there are many ways of external acquisition,such as: the purchase of patent licensing,strategic alliances and technology mergers and acquisitions,among which,the most common use of mergers and acquisitions in practice,can enhance the enterprise’s innovative output and resource integration capacity,but also the most researched areas of researchers.Therefore,the absorption ability of enterprises plays a key role in obtaining external technology,plays a major role in the integration effect of enterprises after mergers and acquisitions,how to use knowledge absorption ability to improve the performance of enterprise mergers and acquisitions has been the concern of Chinese and foreign scholars,The existing literature is insufficient in elaborating on the role of knowledge absorption capacity and how knowledge absorption capacity affects the performance of overseas mergers and acquisitions,and most of the literature focuses on the intermediation effects of knowledge absorption capacity and synergies with other factors.However,it does not deeply explore the path of knowledge absorption ability into merger performance and how to improve the ability of enterprise knowledge absorption and improve the sustainable development ability after merger and acquisition.Using a single case study method,based on Haier’s acquisition of GE as the research object,from the current situation of Haier’s knowledge absorption capacity construction and application,the absorption capacity is divided into three dimensions: identification and acquisition,understanding and digestion,transformation and utilization,and explore how to use knowledge absorption ability to improve the performance of overseas mergers and acquisitions.Sort out the path of domestic enterprises to improve the performance of mergers and acquisitions through knowledge absorption ability.Through the case study,it is found that the knowledge absorption ability plays a role in the pre-merger,middle and the last three stages,and jointly promote the promotion of the performance of the merger,so the enterprise can choose the knowledge absorption ability to match according to the different stages of overseas mergers and acquisitions,improve the efficiency of the internal operation of enterprises,promote the ability of technology absorption and transformation,and enhance the value of the enterprise.Through the case study,this paper expands the performance improvement theory of knowledge absorption ability,which is of great significance for Chinese enterprises to actively go abroad,choose the right merger and acquisition target,and obtain good merger and acquisition performance.