我国企业跨国并购中的逆向知识转移

Reverse Knowledge Transfer in Cross-border Acquisitions: Evidence from Chinese Enterprises

中国企业对发达国家企业的知识寻求型并购呈现风起云涌之势,然而,现有的文献并未对这些后发企业如何获取这些战略资产进行细致的研究,尤其缺乏对逆向知识转移机制的研究。本文聚焦中国企业跨国并购中的逆向知识转移问题,结合中国企业的后发特征,提出了由吸收能力、人员互动、文化整合和子公司角色四个要素为自变量,被转移知识的特征为调节变量,被并购企业的规模、并购后经过的时间和国家文化距离为控制变量的我国企业跨国并购中逆向知识转移作用机制分析框架,并进行了实证检验。研究发现,吸收能力、人员互动、子公司角色三个变量对逆向知识转移具有显著的积极影响;文化整合变量在整体上作用不显著,但在考虑被转移知识的特征对吸收能力和人员互动变量的交互影响的情况下,其对逆向知识转移具有比较显著的正的影响。被转移知识的特征对于吸收能力对逆向知识转移的影响和人员互动对逆向知识转移的影响具有显著的调节作用,说明被转移知识的隐性特征越强,越需要重视吸收能力和人员互动的作用。本文的研究拓展了人们对于后发企业逆向知识转移机制的认识,对于中国企业国际化实践具有重要的指导意义。

The knowledge-seeking acquisition by Chinese enterprises in the developed countries has shown a surging trend. However, at present, there are insufficient studies on how these latecomer firms acquire such strategic assets, especially on the mechanism of reverse knowledge transfer. This paper focused on the phenomenon of reverse knowledge transfer during cross-border acquisition by Chinese enterprises. Based on the characteristics of latecomer firms in China, this paper presented a framework to analyze the mechanism of reverse knowledge transfer during the cross-border acquisition. In this framework, absorptive capacity, personnel interaction, cultural integration and subsidiary role were used as independent variables; the characteristics of transfen＇ed knowledge was used as moderator variable; the scale of acquired firm, the time elapsed after acquisition and cultural difference between countries were used as control variables. This paper also carried out empirical test on this framework. The research result showed that, absorptive capacity, personnel interaction and subsidiary role had significant positive impacts on the reserve knowledge transfer; while cultural integration had no significant impact on the whole. However, if the characteristics of transferred knowledge is considered on absorptive capacity and personnel interaction, cuhural integration showed relatively significant positive impact on the reverse knowledge transfer. The characteristics of transferred knowledge can significantly moderate the impact of absorptive capacity and personnel interaction on the reverse knowledge transfer. This indicates that the more implicit the transferred knowledge is, the more attention we should pay to the impact of absorptive capacity and personnel interaction on the reverse knowledge transfer by Chinese enterprises. This paper has expanded the understanding of reserve knowledge transfer by latecomer firms. It plays an important role in guiding the practice of Chinese enterprise＇ s internationalization ： （ 1 ） The research shows that Chinese enterprises with latecomer advantage can get urgently needed know-how through acquisitions of enterprises or their business departments of developed countries. At present, the financial crisis of western countries has not yet disappeared while the European debt crisis increased again, and the business environment for enterprises keeps aggravating, which provides possibility for Chinese enterprises to merge enterprises in trouble in developed countries. However, the research also showed that, it is far from enough to acquire the advanced technology and knowledge of acquired firms just by money, strong absorptive capacity is also essential to this process. Absorptive capacity can play a very important role in acquiring implicit knowledge, while implicit knowledge is the basis of en- terprises＇ innovative capability. （2） Research showed that, personnel interaction between acquiring firms and acquired firms is of great significance to the reverse knowledge transfer, especially the transfer of implicit knowledge. Personnel interaction is a face-to-face information communication, which can build mutually trustworthy relationship and promote knowledge sharing. （3） Researches found that the issue of cultural integration is the major issue encountered in Chinese enterprise＇ s knowledge-seeking acquisitions. The issue of cultural integration can not be solved in a short period of time. It needs a long term running-in process to promote cultural reform of both the acquiring firm and the acquired firm, eventually an integrated new cultural configuration can be formed. （4） Research found that the role orientation of the acquired firm has important influence on the effect of reverse knowledge transfer. Through clarifying the strategic role of subsidiary, putting in sufficient resources, bringing the innovative advantage of the subsidiary in the market of the developed countries and promoting upgrading of enterprise＇ s product, a long term sustainable R＆D ability of the enterprise can be gradually formed.