Can technology-driven cross-border mergers and acquisitions promote green innovation in emerging market firms? Evidence from China

Li, Jingjing

doi:10.1007/s11356-021-18154-2

Cited by 28 publications

(17 citation statements)

References 73 publications

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“…Fourth, this paper figures out that GMA innovation performance is persistent in SOEs, which supports resource-based theory (Wernerfelt, 1984 ) and is consistent with the finding of previous study which suggested that corporate ownership positively affected GI (Cai et al, 2020 ; Wang & Jiang, 2021 ). But this finding is inconsistent with the view of Li ( 2022 ), who held the institution-based view and found that SOEs took less initiative to invest in GI. The difference may due to the fact that this paper emphasizes the persistence of GI, which is greatly dependent on resource support.…”

Section: Discussioncontrasting

confidence: 77%

Green merger and acquisition decision driven by environmental regulation and its impact on green innovation: evidence from Chinese heavily polluting listed enterprises

Sun

Wang

et al. 2023

Environ Dev Sustain

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How heavily polluting enterprises achieve sustainable development has become an urgent issue to be solved. Based on the data of Chinese heavily polluting listed enterprises during the period of 2010–2020, this paper adopts the probit method to examine how heterogeneous environmental regulations affect green merger and acquisition (GMA) decision, and propensity score matching and difference-in-differences method to explore innovation performance of GMA. The findings are as follows: (1) Command-and-control environmental regulation (CMCER) can promote GMA, while there exists a U-shaped relationship between market-based environmental regulation (MBER) and GMA; (2) from a dynamic perspective, it turns out that GMA can promote green innovation (GI) in the first and second post-acquisition year, but this effect disappears in the third year; (3) compared with CMCER, MBER has a more pronounced positive effect on the relationship between GMA and GI; (4) heterogeneous analysis indicates that the above GMA performance is more persistent when the acquirer is state-owned, with high media attention, with high internal control or engages in vertical GMA. The findings further enrich the literature on GMA driver and performance and provide references for optimizing ER policies and promoting corporate sustainable development.

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Section: Discussioncontrasting

confidence: 77%

Green merger and acquisition decision driven by environmental regulation and its impact on green innovation: evidence from Chinese heavily polluting listed enterprises

Sun

Wang

et al. 2023

Environ Dev Sustain

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“…In addition, during M&A, the two companies discuss some strategic and detailed issues, especially for companies that acquire technical resources. By using existing technologies and the market, they can concentrate their energy and time on effectively solving the technical acquisition problems they encounter, thereby helping improve business performance (Li, 2022).…”

Section: Discussionmentioning

confidence: 99%

“…Kafouros and Forsans (2012) found that companies with rich empirical market knowledge can provide products or services that effectively meet the needs of the host country's market and can formulate highly effective marketing strategies, and non-empirical technical knowledge helps companies determine the direction of industrial technology development to rediscover, identify, and evaluate strategic technical resources. Li (2022) argued that the development of international business by an enterprise helps the executives become familiar with internationalization rules, the host country's market environment, strategic resources, and other variables, which can help enterprises "learn by doing," promote the accumulation of experience, and improve the performance of cross-border M&A.…”

Section: Mediating Role Of Experience Learningmentioning

confidence: 99%

Impact of enterprise ambidexterity capability and experience learning on cross-border M&A performance: evidence from China

Peng²,

Tong³

et al. 2022

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Research background: Through cross-border mergers and acquisitions (M&A), enterprises in China can improve their technological innovation and organizational management capabilities to make up for the disadvantages of outsiders and enhance their international competitiveness. However, due to the lack of experience, the success rate of cross-border M&A of China enterprises is low, and the performance changes after M&A differ. How to maximize the advantages of cross-border M&A in obtaining technical resources and how to improve the performance of cross-border M&A are important issues that China?s cross-border M&A enterprises and academic circles need to solve. Purpose of the research: The aim of this study is to analyze the mechanism and boundary conditions of firms? capability to exploit resources (RTC) and capability to explore resources (REC) with regard to cross-border M&A performance from the perspective of experience learning based on organizational learning theory and resource-based theory. Methods: With 173 China A-share listed companies with cross-border M&A events from 2010 to 2020 as samples, this study uses hierarchical regression analysis to test the impact of REC and RTC on cross-border M&A performance and its mechanism. In the robustness test, this study adopts the measures of changing dependent and independent variables lagged for one year for analysis. In the mechanism test, this study uses intermediary and mediation effect models. Findings & value added: The results show that RTC and REC have positive effects on the performance of cross-border M&A. Prior experience learning (PE) and vicarious experience learning (VE) increase the probability of companies making cross-border M&A decisions and have positive effects on cross-border M&A performance. Moreover, PE and VE play a partial mediating role in the positive impact of REC and RTC on cross-border M&A performance, respectively. Formal and informal institutional distance weaken the positive effects of REC and RTC on the performance of cross-border M&A. Enterprises in emerging economies should adapt to the institutional environment of the host country to reduce the negative impact of institutional distance while taking advantage of experience learning when carrying out cross-border M&A.

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“…1.1 Ownership differences. Referring to the previous literature [42], we divide the sample into two subsamples of state-owned enterprises (SOEs) and non-state-owned enterprises…”

Section: Heterogeneity Checkmentioning

confidence: 99%

Impact of economic growth target constraints on enterprise technological innovation: Evidence from China

Zhang

et al. 2022

PLoS ONE

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By using the data from Chinese listed companies in the Shanghai and Shenzhen A-share market for the period 2007 to 2019 and the Report on the Work of the Government, this paper investigates the impact of the local government’s economic growth target constraints on enterprise technological innovation and its mechanism. It is found that the local government’s economic growth target constraints significantly inhibit enterprise technological innovation, which is more obvious in the samples of SOEs, regulated industries, and enterprises at low marketization levels. The change of government officials’ performance appraisal indicators from the quantity to quality of economic growth can alleviate the negative effect. The mechanism effect test indicates that the local government’s economic growth target constraints will aggravate enterprise financing constraints and decrease the contribution of R&D investment to enterprise performance, and further inhibit enterprise technological innovation.

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Can technology-driven cross-border mergers and acquisitions promote green innovation in emerging market firms? Evidence from China

Cited by 28 publications

References 73 publications

Green merger and acquisition decision driven by environmental regulation and its impact on green innovation: evidence from Chinese heavily polluting listed enterprises

Green merger and acquisition decision driven by environmental regulation and its impact on green innovation: evidence from Chinese heavily polluting listed enterprises

Impact of enterprise ambidexterity capability and experience learning on cross-border M&A performance: evidence from China

Impact of economic growth target constraints on enterprise technological innovation: Evidence from China

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