| In the context of economic globalisation,cross-border M&A has become an important tool for economic development,and more and more Chinese companies are actively participating in international economic cooperation and integrating into the new global economic landscape through cross-border M&A.At present,the core of an enterprise’s competitiveness lies in improving its technological innovation capability,and the focus of its internationalisation strategy is mainly on technological M&A.In recent years,Chinese companies have undertaken many overseas M&A activities,but the success rate has been low,with many of them completing their acquisitions but failing in the integration phase.Therefore,in order to obtain advanced technological resources through cross-border M&A to enhance competitiveness,it is not only necessary to complete the M&A activities,but also to pay attention to the effective integration during the cross-border M&A process.Based on the theory of cross-border M&A integration mode and enterprise technology innovation,this paper starts from the classification of cross-border M&A integration mode,and draws on the "fuzzy control theory" to classify the integration mode into "light touch" mode and "heavy touch" mode.The "light-touch" and "heavy-touch" models are classified by the "fuzzy control theory",and are defined through the five aspects of product integration,organizational integration,process integration,market integration and marketing integration.At the same time,two forms of technological innovation are proposed according to the "dual innovation strategy" : "exploratory innovation" and "exploitative innovation".The two models are matched with different forms of innovation according to the differences in corporate autonomy,and two classic cases of cross-border mergers and acquisitions are analysed to support the rationality of this matching relationship.The final conclusion is that the light-touch integration model with exploratory innovation has a positive impact on technological innovation,while the heavy-touch integration model with exploitative innovation has a positive impact on technological innovation,without neglecting the fundamental role played by the comprehensive quality of the enterprise. |
