在创业板市场上,购并活动早已如火如荼,创业板上市公司尤其热衷于通过购并的方式进行外延式成长。本文关注创业板上市公司的技术购并对技术创新的影响,由此进行了理论分析并提出研究假设,旨在探究这些技术购并行为与创新投入之间是否存在互补关系,及其对创新产出的影响,同时考察技术吸收能力、技术相关性、知识规模和技术整合程度的调节作用,从而为创业板上市公司的发展提供指导性建议。

Technological M As are already in full swing in the GEM market, in which the listed companies is particularly keen on conducting M As for epitaxial growth. This paper focuses on the impact of technological M A on technological innovation of the listed companies on the GEM, and has carried on the theoretical analysis and put forward the research hypothesis aiming to explore whether there is a complementary relationship between technological M A and innovation investment, and its impact on innovation output. At the same time, we investigate the moderating effect of technological absorptive capacity, technical relevance, knowledge scale and technology integration, in order to provide guidance for the development of the listed companies on the GEM.

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