摘要
以资源基础理论为主线,整合制度理论和组织学习理论,采用2011~2017年中国上市公司跨国并购数据,实证研究了跨国并购双方的资源互补性对并购方创新绩效的影响,考察了文化距离与吸收能力的调节作用。研究结果表明:资源互补性对企业创新绩效具有显著的促进作用,文化距离负向调节资源互补性与创新绩效之间的关系,而吸收能力发挥正向的调节作用。研究结论为跨国并购的资源获取逻辑提供了经验证据,对新兴市场企业跨国并购实践也具有一定的参考价值。
Based on cross-border M&As data of Chinese listed companies from 2011 to 2017,this paper introduces a comprehensive analysis framework which includes resource-based theory,institutional theory,and organizational learning theory,to examine the relationship between resource complementarity and innovation performance,and the moderation effects of cultural distance and absorptive capacity.The results indicate that resource complementarity has a positive effect on the innovation performance,and the relationship between resource complementarity and innovation performance is negatively moderated by cultural distance,while positively moderated by absorptive capacity.We provide an empirical evidence for the resource acquisition logic of M&As,which contributes to existing research gaps.At the same time,the results are helpful for the cross-border M&As practice in emerging market.
作者
高厚宾
王蔷瑞
GAO Houbin;WANG Qiangrui(Business School,Henan Normal University,Xinxiang Henan 453007)
基金
国家社会科学基金重点项目“创造性资产寻求型跨国并购的主要影响因素和运作推进机制研究”(12AZD034)
河南省哲学社会科学规划项目“精准研发补贴提升河南省制造业创新能力的机制与政策优化研究”(2019CJJ080)
关键词
跨国并购
资源互补性
创新绩效
文化距离
吸收能力
Cross-border M&As
Resource Complementarity
Innovation Performance
Cultural Distance
Absorptive Capacity
