Research On The Influencing Factors Of Technical Knowledge Transfer In Technology Driven M&A

With the continuous advancement of industry 4.0,the development of technology is changing rapidly,the market competition is particularly fierce,and the demand of enterprises for technical knowledge is also increasing day by day.As a kind of external technology acquisition modes,Technology driven M&A can make the enterprise in a relatively short period of time through external access to and fully control the core technology,forms the enterprise core competitive advantages,break the path dependence.so it meets enterprise needs.More and more enterprises use the way of M&A to gain a foothold in the ever-changing technology market.However,the low success rate of technology M&A results from the difficulties in technology knowledge transfer.In order to transfer technology knowledge,enterprises are faced with many challenges in the implementation process.Therefore,it is particularly important for enterprises to make clear the factors that influence the transfer of technical knowledge in Technology driven M&A.This paper aims to analyze the relevant factors and analyze the successful Technology driven M&A case,so as to provide relevant countermeasures and suggestions for enterprises.Based on the above research background and purpose,the research ideas of this paper are as follows: Firstly,the factors affecting the transfer of technical knowledge in technology M&A are analyzed from technical knowledge,technical knowledge source,technical knowledge receiver and the relationship between transfer parties.Secondly,from the preparation stage,implementation stage and integration stage of M&A,the above-mentioned influencing factors are analyzed,and the staged analysis framework of the influencing factors of technical knowledge transfer in technology M&A is obtained.Finally,using the above analysis framework to analyze the case of Goldwind Technology’s acquisition of VENSYS.The research results of this paper show that:(1)In the preparation stage of M&A,the factors affecting the transfer of technical knowledge are the M&A motives,the characteristics of technical knowledge,and the actual situation gap factors of the transfer parties.The emergence of M&A motives is the beginning of technical knowledge transfer;Low technical knowledge expressiveness,embedded on the key technical personnel and has certain context dependence determines the technology knowledge transfer is difficult;the situation gap,such as knowledge distance,physical distance,organizational distance and cultural distance,affects the difficulty of technical knowledge transfer.(2)In the implementation stage,the influencing factors are the future cooperation value,trust foundation and willingness to transfer.The establishment and maintenance of the relationship between the two parties will be influenced by the two factors of future cooperation value and trust foundation.The relationship of mutual benefit and mutual trust will also help to improve the willingness of both parties to transfer.The future cooperation value,trust foundation and willingness to transfer of the two parties are the key factors affecting the degree and efficiency of subsequent technical knowledge transfer.(3)In the integration stage of M&A,the influencing factors are the transfer ability of the target enterprise,the absorption capacity of the M&A enterprise and the integration ability of the M&A enterprise.The good relationship formed in the previous stage and the high willingness to transfer will promote the subjective initiative of both parties to fully utilize the transfer,absorptive and integration capabilities to improve the success rate of technical knowledge transfer.The possible innovations in this paper are as follows:(1)Based on the previous research perspectives on the factors affecting knowledge transfer,this paper also explores the impact of the relationship between the two parties on the transfer of technical knowledge,and strives to analyze the relevant influencing factors from multiple perspectives.(2)The research in this paper is based on the three stages of M&A,and the related factors are identified through case studies.