国有企业技术并购对企业模糊前端创新绩效的影响  

The Impact of Technology Mergers and Acquisitions by State-owned Enterprises on Firms'Fuzzy Front-end Innovation Performance

作　　者：黄聿舟[1] 李甜甜 裴旭东[1] 宋娟 李娜[1] Huang Yuzhou;Li Tiantian;Pei Xudong;Song Juan;Li Na(School of Economics and Management,Xi'an Shiyou University,Xi'an 710048,China)

机构地区：[1]西安石油大学经济管理学院,陕西西安710048

出　　处：《科技进步与对策》2024年第6期129-138,共10页Science & Technology Progress and Policy

基　　金：国家社会科学基金项目(16BGL042);教育部人文社会科学青年基金项目(17YJC630045);陕西省社会科学基金项目(2018S29);陕西省创新能力支撑计划项目(2022KRM053)。

摘　　要：基于多维邻近理论,探索技术并购对企业模糊前端创新绩效的影响,以及并购双方地理距离与收购方生产链位置的调节作用。利用2009—2019年国有企业并购数据进行实证检验,结果表明:并购双方技术相似性对企业模糊前端创新绩效具有显著负向影响,技术互补性对企业模糊前端创新绩效具有显著正向影响;并购双方地理距离、收购方所处生产链位置正向调节技术相似性与企业模糊前端创新绩效的关系以及技术互补性与企业模糊前端创新绩效的关系。采用工具变量法、替换样本研究区间和GMM估计法进行内生性与稳健性检验发现,上述结论依然成立。结论有助于深化对国有企业技术并购与模糊前端创新关系的认识,从而为企业通过技术并购实现模糊前端创新提供实践启示。State-owned enterprises(SOEs)are the main force in China's participation in international economic and the trade activities and implementation of the going-out strategy.In recent years,SOEs have continued to promote innovation to break through technological bottlenecks.At the fuzzy front-end stage,technology acquisitions allow high-tech firms to obtain a competitive advantage by quickly acquiring the latest external technology and product ideas.But some firms fail to achieve innovation and technological capability following technology acquisitions.It can be found that the introduction of new technological trajectories for firms through technology M&A and the generation of key core breakthrough technologies that have a fundamental impact on the competitive state of the market are key factors in the acquisition and maintenance of sustainable competitive advantages for firms.As the key to the successful output of breakthrough technologies lies in the performance of a firm's fuzzy front-end activities,the technology acquisitions taken by a firm at this stage determine the likelihood of technological innovation breakthrough and the ultimate success of the innovation.Following the multidimensional proximity theory,this paper explores the influence of technology acquisition on the fuzzy front-end innovation performance of state-owned high-tech firms in China.It selects the technology acquisitions of SOEs from 2009-2019 as the sample to analyze whether technology acquisitions effectively alleviate SOEs'innovation information dilemma,optimize SOEs'innovation resource allocation,and promote breakthrough innovation.It is concluded that firstly technological similarity between M&A parties has a significant negative impact on firms'fuzzy front-end innovation performance,while technological complementarity has a significant positive impact.Secondly,geographical distance and production chain location positively moderate the negative relationship between technological similarity and firms'fuzzy front-end innovation performance.T

关 键 词：技术相似性 技术互补性 地理距离 生产链位置 模糊前端创新绩效 

分 类 号：F271.4[经济管理—企业管理]