Research On The Performance Of Geely Automobile’s Cross Border Merger And Acquisition Of Daimler From The Perspective Of Technological Innovation

The automobile industry is a typical technology-intensive industry and those who get the technology will get the world.China’s automobile enterprises started later than foreign countries.Technical capability,innovation level and talent reserve have become important factors restricting their development.In order to achieve innovative development,it is far from enough for China’s automobile enterprises to rely solely on traditional independent innovation to make up the technological gap with foreign leading enterprises.Therefore,some domestic automobile companies began to absorb and learn foreign advanced technical knowledge through cross-border M&A to achieve "technical hematopoiesis",and Geely’s acquisition of Daimler is a typical case.Geely,as the representative of domestic automobile enterprises,has successfully acquired Daimler,which has promoted the improvement of technological innovation ability of enterprises to a certain extent,so its advantages are obvious.Therefore,on this basis,this paper selects Geely Automobile as the research object,hoping to provide some reference for domestic automobile enterprises’ cross-border M&A.First of all,this paper reviews the relevant literature on the impact of M&A on technological innovation mechanism,the motivation of cross-border M&A and the performance of cross-border M&A,and sorts out the theoretical basis of technological innovation and cross-border M&A;Secondly,it analyzes the background,process and characteristics of Geely’s merger and acquisition of Daimler,and the motivation of M&A and the path of M&A to promote Geely’s technological innovation are comprehensively analyzed with relevant theories.;Thirdly,the paper explore the impact of this merger and acquisition on enterprise performance by comparing market performance,innovation performance and financial performance with the average level of the same industry;Finally,according to the overall analysis results,the corresponding conclusions are drawn,and on this basis,the implications of this M&A for domestic automobile enterprises are analyzed.The conclusion of this paper are as follows:(1)Geely Automobile has improved its innovation performance through cross-border M&A;(2)The financial performance was enhanced through the cross-border acquisition of Geely Automobile;(3)Geely has achieved innovative development through the acquisition of Daimler.And then draw corresponding inspiration for domestic automotive companies that want to achieve technological innovation through cross-border M&A,we can draw corresponding enlightenment in terms of cross-border technology M&A: make rational use of M&A to improve technological innovation capability,pay attention to the resource complementarity of the target company,strengthen the strength of R&D investment and pay attention to the integration of mergers and acquisitions between companies.