The Impact Of Absorptive Capacity On Innovation Performance Of M&A Companies

In recent years Chinese scale mergers and acquisitions of listed companies are showing a steady growth trend,mergers and acquisitions is an important way for transformation of business expansion and strategic concern,has become one of the most important form of enterprise growth,and academic research on M&A is also increasing.The innovation is related to the development of national economy.After the enterprise chooses the way of M&A,whether the achievement of innovation can be improved or not is also related to the survival and development of the enterprise in the future.Therefore,for enterprises,a reasonable decision based on innovation is one of the most important decisions of enterprises,and the study of this problem is also very urgent.Absorptive capacity is another important concept,representing the ability of an enterprise to absorb external resources and use it for commercialization.It is obvious that absorptive capacity is essential to an enterprise's innovative capabilities.Previous studies on this problem are no more complete explanation,or not choice study absorption capacity index variables,thus the research point of view with a large space to explore,whether the absorption capacity will have any effect on the innovation performance of mergers and acquisitions is this need to solve the problem.Based on the literature and theory research on the existing research,the first is to systematically review the existing literature on the effects of absorptive capacity and innovation performance of mergers and acquisitions,summed up some selected independent variables affect the specific interpretation of innovation performance after M&A theory framework to determine the.And select the 207 cases of mergers and acquisitions in China 2012-2014 listed companies as the data sample,including the extraction of variables data are explanatory variables and explanatory variables,the regression analysis concluded that: 1,the only enterprise scale has significant and positive effect on innovation performance indicators;2,the absorption capacity of the two indicators of R&D investment accounted for and the ratio of R&D personnel accounted for on the innovation performance is not significant;3,other control variables of enterprise growth ability and enterprise ownership variables on innovation performance was not significant.Finally,according to the results of the empirical analysis,this paper provides some reference suggestions for the enterprise foreign mergers and acquisitions decision-making,and discusses the shortcomings of this paper,so as to continue to improve through the follow-up study.