基于双重差分法的跨国并购与企业价值链升级研究  

Research on Cross Border Mergers and Acquisitions and Enterprise Value Chain Upgrading Based on the Double Difference Method

作　　者：段文浩 DUAN Wen-hao(Anhui University of Finance and Economics,Bengbu 233000,China)

机构地区：[1]安徽财经大学,蚌埠233000

出　　处：《价值工程》2024年第34期56-59,共4页Value Engineering

摘　　要：跨国并购和全球价值链在当今经济全球化的背景下扮演着极其重要的角色。本研究基于2010-2022年中国沪深A股上市非金融类企业数据,运用双重差分法进行实证分析,探讨了跨国并购对中国企业价值链升级的影响,结果证明跨国并购能显著促进企业全球价值链升级,主要通过缓解融资约束,提升创新能力两个渠道,同时对于东西部地区的国企和大规模企业,跨国并购对价值链升级的促进作用更加显著。Cross border mergers and acquisitions and global value chains play an extremely important role in the context of today's economic globalization.Based on the data of non-financial enterprises listed on the Shanghai and Shenzhen A-shares from 2010 to 2022,this study uses the double difference method for empirical analysis to explore the impact of cross-border mergers and acquisitions on the upgrading of the value chain of Chinese enterprises.The results show that cross-border mergers and acquisitions can significantly promote the upgrading of the global value chain of enterprises,mainly through alleviating financing constraints and enhancing innovation capabilities.At the same time,for state-owned enterprises and large-scale enterprises in the eastern and western regions,cross-border mergers and acquisitions have a more significant promoting effect on the upgrading of the value chain.

关 键 词：跨国并购 全球价值链 融资约束 创新能力 

分 类 号：F271[经济管理—企业管理]