School of Economics and Management, Wuhan University, Wuhan, 430070, Hubei, China.
Environ Sci Pollut Res Int. 2022 Aug;29(36):55039-55057. doi: 10.1007/s11356-022-19739-1. Epub 2022 Mar 21.
In the economic transition process, emerging markets are recognizing the importance of accessing sophisticated technologies to green innovation. After cross-border merge and acquisition (M&A), research and development (R&D) investment has become the basic condition for acquiring mature market technologies. Many studies suggest that R&D can promote green innovation. However, in the context of cross-border M&A, the relationship between R&D and green innovation is more complicated. Based on the knowledge-based view and stakeholder theory, this paper takes 230 cross-border M&A events at Chinese enterprises as samples. The conclusions show that instead of a linear relation, the influence of R&D input on green innovation performance after cross-border M&A is in an "S-shape"; the political connection and institutional distance of enterprises play a negative role in promoting the relationship between R&D input and green innovation performance after cross-border M&A.
在经济转型过程中，新兴市场认识到获取复杂技术以实现绿色创新的重要性。跨境并购（M&A）后，研发（R&D）投资已成为获取成熟市场技术的基本条件。许多研究表明，研发可以促进绿色创新。然而，在跨境并购的背景下，研发和绿色创新之间的关系更加复杂。基于知识基础观和利益相关者理论，本文以中国企业的 230 起跨境并购事件为样本。研究结果表明，研发投入对跨境并购后绿色创新绩效的影响不是线性关系，而是呈“S”形；企业的政治关联和制度距离对促进跨境并购后研发投入与绿色创新绩效之间的关系起到了负向作用。
