新兴市场企业的技术追赶战略——海外并购和高管海外经历的作用

发布时间：2018-05-24 14:38

本文选题：海外并购 + 技术创新绩效　；参考：《科学学研究》2017年09期

【摘要】：海外并购一直被产业界作为进入东道国市场、或者获取战略资源的重要手段。尤其是近年来,中国企业越来越多地通过海外并购的方式对发达国家进行反向资本输入,其目的既为了获取海外市场,也为了获取先进的技术。同时,海归人才的回流也是反向技术溢出的一个渠道。文章选取了深沪股市中81家上市公司从2005-2014年的海外并购数据作为样本,并收集了这些公司并购的专利申请数目,以及这些企业高管团队的信息建立模型。结果发现,对于新兴市场的企业而言,海外并购可以促进其技术创新绩效的显著提高,而且其拥有海外任职经历的高管团队能够显著促进企业海外并购后更好地将海外先进技术转移和融合,从而提升新兴市场企业在海外并购后的技术创新能力。
[Abstract]:Overseas M & A has always been used by industry as an important means to enter the host country market or to obtain strategic resources. Especially in recent years, more and more Chinese enterprises carry out reverse capital input to developed countries through overseas mergers and acquisitions, the purpose of which is not only to obtain overseas market, but also to acquire advanced technology. At the same time, the return of returned overseas talents is also a channel of reverse technology spillover. This paper selects 81 listed companies in Shenzhen and Shanghai stock market as samples from 2005 to 2014, and collects the number of patent applications for M & A of these companies, as well as the information model of the executives team of these companies. The results show that for firms in emerging markets, overseas mergers and acquisitions can significantly improve their technological innovation performance. Moreover, the executive team with overseas experience can significantly promote the transfer and integration of overseas advanced technologies after overseas mergers and acquisitions, thereby enhancing the technological innovation ability of emerging market companies after overseas mergers and acquisitions.
【作者单位】：同济大学经济与管理学院;
【基金】：上海市软科学研究计划资助项目(17692102300)
【分类号】：F271;F272.91;F273.1

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