并购商誉对企业创新绩效的影响——以研发投入为中介  

The Impact of M&A Goodwill on Corporate Innovation Performance—Mediated by R&D Investment

作　　者：袁子壬 寇鑫 

机构地区：[1]沈阳建筑大学管理学院,辽宁 沈阳

出　　处：《国际会计前沿》2024年第6期863-871,共9页Frontiers of International Accounting

摘　　要：创新是人类进步的源泉,是社会发展的不竭动力。随着我国经济的进一步发展,市场竞争也日渐激烈,企业仅靠内部活动难以创造新的活力,寻找外部资源成为企业实现发展的重要渠道。并购活动作为外部整合资源、扩大企业规模的重要途径,近年来的热度居高不下。本文利用深圳证券交易所及上海证券交易所A股上市公司2003年至2022年合并商誉数据,研究并购商誉对企业创新绩效的影响。该研究加深对我国A股上市公司并购行为的认识:研究发现并购商誉对企业创新绩效产生了明显的负面影响,同时研究发现研发投入在并购商誉与企业创新绩效之间发挥了中介作用。文章基于实证结果从科学选择评估方法、重视资源合理配置与创新投入及强化监管部门职能三方面提出建议。Innovation is the source of human progress and the inexhaustible driving force for social development. With the further development of China’s economy, market competition is becoming increasingly fierce. It is difficult for enterprises to create new vitality only through internal activities, and finding external resources has become an important channel for enterprises to achieve development. As an important way to integrate external resources and expand business scale, M&A activities have remained highly popular in recent years. This paper uses the consolidated goodwill data of A-share listed companies on the Shenzhen Stock Exchange and the Shanghai Stock Exchange from 2003 to 2022 to study the impact of M&A goodwill on the innovation performance of enterprises. This study deepens the understanding of the M&A behavior of A-share listed companies in China: the study finds that M&A goodwill has a significant negative impact on corporate innovation performance, and finds that R&D investment plays a mediating role in the relationship between M&A goodwill and corporate innovation performance. Based on the empirical results, this paper puts forward su

关 键 词：并购商誉 创新 企业绩效 研发投入 

分 类 号：F27[经济管理—企业管理]