技术并购对企业绿色创新的影响研究——来自中国的并购证据

Research on the Influence of Technology Merger and Acquisition on Enterprise Green Innovation--Evidence of mergers and acquisitions from China

绿色创新是当今社会实现高质量发展的重要支撑与保障,其发展需要企业运用战略进行主动推进,而技术并购正是能够帮助企业推进绿色创新的重要方式。基于2010—2022年沪深A股609家上市公司发生的技术并购事件,通过多时点双重差分法检验了技术并购对绿色创新的影响,研究发现:技术并购能够显著促进企业绿色创新,企业冗余资源与风险感知能力正向调节技术并购与绿色创新之间的关系。为我国企业借助技术并购促进绿色技术创新提供了理论基础与实践依据。

Green innovation is an important support and guarantee for the realization of high-quality development in today's society.Its development requires enterprises to use strategy to take the initiative to promote,and technology merger and acquisition is an important way to help enterprises promote green innovation.Based on the technology M&A events of 609 Shanghai and Shenzhen A-share listed companies from 2010 to 2022,this paper tests the impact of technology M&A on green innovation through multi-time-point differential method.It is found that technological M&A can significantly promote green innovation,and the relationship between technological M&A and green innovation is positively moderated by redundant resources and risk perception ability of enterprises.This paper provides theoretical basis and practical basis for Chinese enterprises to promote green technology innovation with the help of technology mergers and acquisitions.