The impact of technological M&As on innovative performance of listed companies

This article selects the patent number as an innovation performance alternative variable to test the impact of technology mergers on the innovative performance in high-tech industries listed companies empirically by using the panel data negative binomial regression model. It shows that non-technical merger acquisition has no significant influence on the innovation achievements for a company; the absolute size of the acquired knowledge base makes a positive impact on the innovative performance of the acquiring firm; while the relative size of the acquired knowledge base has a negative effect on the innovative performance of the acquiring firm. These results provide the empirical basis of technology mergers & acquisitions for the listed company.