技术相关性、并购交易规模与企业创新绩效

以2015—2020年部分上市公司为样本，采用相对应年份相关数据对并购双方技术相关性和企业创新绩效间的关系进行实证分析，并研究并购交易规模的调节作用。研究发现：并购双方技术相似性和技术互补性与企业创新绩效间呈显著倒“U”型关系，技术跨界性对企业创新绩效不具有显著影响；并购交易规模负向调节技术相似性与企业创新绩效间的关系。

Technological Relatedness, M&A Scale and Enterprise Innovation Performance

Taking some listed companies from 2015 to 2020 as samples, with relevant data corresponding, the relationship between the technological relevance of M&A parties and corporate innovation performance is empirically analyzed, and the moderating effect of M&A deal size is investigated. It is found that there is a significant inverted U-shaped relationship between technical similarity and technical complementarity between M&A parties and corporate innovation performance, and technical cross-border does not have a significant impact on corporate innovation performance.M&A deal size negatively regulates the relationship between technical similarity and corporate innovation performance.