School of Economics and Management, Wuhan University, Wuhan, Hubei, 430070, People's Republic of China.
Environ Sci Pollut Res Int. 2022 Apr;29(19):27954-27976. doi: 10.1007/s11356-021-18154-2. Epub 2022 Jan 4.
Emerging markets face severe ecological and environmental problems in periods of economic and political transition. The existing literature analyses the impact of technology on environmental benefits and the role of technology on the green innovation of enterprises, mostly from the perspective of technology spillover in enterprises in mature markets. Based on a sample of 229 Chinese cross-border mergers and acquisitions (M&As), this paper explores the role of technology-driven cross-border M&As (TDC M&As) in green innovation, finding that TDC M&As have a significant promoting effect on green innovation. A higher degree of ownership concentration positively promotes the relationship between TDC M&As and green innovation in the enterprise. This paper divides enterprises into state-owned enterprises (SOEs) and political connection enterprises, with the nature of SOEs negatively affecting the relationship between TDC M&As and green innovation, the nature of political connections significantly promoting the relationship. Similarly, formal institutional distance negatively interacts with TDC M&As to affect the green innovation of enterprises, while informal distance interacts positively with TDC M&As. This paper has important implications for emerging market enterprises in realising the transformation of the mode of economic growth and achieving harmonious development between enterprises and the environment.
新兴市场在经济和政治转型时期面临着严峻的生态和环境问题。现有文献主要从成熟市场企业技术溢出的角度分析了技术对环境效益的影响以及技术对企业绿色创新的作用。本文基于中国 229 起跨境并购（M&A）的样本，探讨了技术驱动型跨境并购（TDC M&A）在绿色创新中的作用，发现 TDC M&A 对绿色创新有显著的促进作用。更高的所有权集中度正向促进了企业中 TDC M&A 与绿色创新之间的关系。本文将企业分为国有企业（SOEs）和政治关联企业，国有企业性质负向影响 TDC M&A 与绿色创新的关系，政治关联性质显著促进了这种关系。同样，正式制度距离负向与 TDC M&A 相互作用，影响企业的绿色创新，而非正式距离则与 TDC M&A 正向相互作用。本文对新兴市场企业实现经济增长模式的转变和实现企业与环境的和谐发展具有重要意义。
