本研究基于创新价值链理论,对2007年-2019年37个中国工业细分行业的面板数据进行固定效应回归分析,实证检验了技术并购对于行业创新的影响机制和效果,以及信息技术赋能在其中的调节作用。研究发现,技术并购作为行业创新价值链上重要的外部资源导入方式,对行业的产品创新绩效有显著的促进作用,并且技术创新绩效在两者之间起中介作用；信息技术赋能正向调节创新价值链中技术并购与行业创新绩效之间的直接关系以及中介过程的后半路径。研究结果在行业层次上从技术资源外部导入的视角拓展了创新价值链的研究,并为通过技术并购和信息技术赋能推动行业高质量发展提供了经验证据。

Based on the innovation value chain theory, this paper conducts a fixed-effect regression analysis on the panel data of 37 Chinese industrial sub-sectors from 2007 to 2019, and empirically tests the impact mechanism and effect of technological mergers and acquisitions on industry innovation, and the moderating role of information technology empowerment in it. The empirical results show that technology mergers and acquisitions, as an important way of introducing external resources in the industry innovation value chain, have a significant role in promoting industry innovation performance, and technology innovation performance plays a mediating role between the two; information technology empowerment is positively moderating the direct relationship between technology M As and industry innovation performance in the innovation value chain and the second half of the mediation process. The research results expand the research on the innovation value chain from the perspective of industry level and external technology introduction, and provide empirical evidence for driving quality industry growth through technology acquisitions and information technology empowerment

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北京社科基金研究基地重点项目：促进北京高端制造业跨界融合发展的技术并购路径研究(18JDGLA042,2018.08-2020.12) )