政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/136746
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  全文筆數/總筆數 : 113392/144379 (79%)
造訪人次 : 51223144      線上人數 : 929
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜尋範圍 查詢小技巧:
  • 您可在西文檢索詞彙前後加上"雙引號",以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋,建議至進階搜尋限定作者欄位,可獲得較完整資料
  • 進階搜尋
    請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/136746


    題名: 開發中國家購併已開發國家企業後創新能力變化之分析
    How Do Cross-Border Acquisitions Affect the Innovation Performance of Emerging Market Firms?
    作者: 李浩維
    Lee, Hao-Wei
    貢獻者: 譚丹琪
    李浩維
    Lee, Hao-Wei
    關鍵詞: 購併
    創新
    專利
    開發中國家
    日期: 2021
    上傳時間: 2021-08-04 16:41:18 (UTC+8)
    摘要: 本研究目的為探討購併對於開發中國家的企業創新能力的影響,著眼於近十年來開發中國家企業快速成長,作為國際市場的參與者嶄露頭角,觀察開發中國家企業國外直接投資(Foreign direct investment, FDI)數據,購併在其中非常大的比例,顯示購併在這些開發中國家企業的成長中有濃厚的成分,特別是對象為已開發國家企業的購併,對這些開發中國家公司來說是取得技術資源的手段之一,能夠快速、大規模的累積創新能力,因此本文將利用專利數據作為指標,觀察這些開發中國家企業購併前後創新能力的變化,以檢視購併是否有達到提升創新能力的效果。為達到研究目的,本文開發一支爬蟲程式檢索 Google Patents 搜尋引擎,建立有效率的、易更新的專利統計工具以便進行研究。在分析 199 件來自 SDC(Securities Data Company) 購併資料庫,開發中國家製造業公司購併已開發國家製造業公司的數據後,本文發現創新能力中代表創新產出的專利申請數沒有顯著變化,但代表創新品質的專利被引用數在購併後有顯著的下降,另一方面,主併公司的研發經費有顯著的提升。本文認為吸收來自目標公司的知識與原本公司創新所需的資源是相同的,因此資源相互排擠的結果才導致資源增加但創新品質仍然下降的現象。
    參考文獻: 1. Allred, B. B., & Park, W. G. (2007). Patent rights and innovative activity: evidence from national and firm-level data. Journal of International Business Studies, 38(6), 878-900.
    2. Ahuja, G., & Curba, M. L. (2001). Entreprenuership in the large corporation: A longitudinal study of how established firms create breakthrough inventions. Strategic Management Journal, 22(6), 521-543.
    3. Ahuja, G., & Katila, R. (2001). Technological acquisitions and the innovation performance of acquiring firms: A longitudinal study. Strategic Management Journal, 22(3), 197-220.
    4. Akdoğu, E. (2009). Gaining a competitive edge through acquisitions: Evidence from the telecommunications industry. Journal of Corporate Finance, 15(1), 99-112.
    5. Amit, R., & Schoemaker, P. (1993). Strategic assets and organizational rent. Strategic Management Journal, 14(1): 33–46.
    6. Arora, A., Belenzon, S., & Rios, L. A. (2014). Make, buy, organize: The interplay between research, external knowledge, and firm structure. Strategic Management Journal, 35(3), 317. R
    7. Arora, A., Fosfuri, A., & Gambardella, A. (2001). Specialized technology suppliers, international spillovers and investment: Evidence from the chemical industry. Journal of Development Economics, 65(1), 31-54.
    8. Arrow, K. (1962) ‘Economic Welfare and the Allocation of Resources for Invention’, in R. Nelson (ed.) The Rate and Direction of Inventive Activity, Princeton University Press: Princeton, NJ, pp: 610–614.
    9. Awate, S., Larsen, M. M., & Mudambi, R. (2012). EMNE catch‐up strategies in the wind turbine industry: Is there a trade‐off between output and innovation capabilities? Global Strategy Journal, 2(3), 205-223.
    10. Aybar, B., & Ficici, A. (2009). Cross-border acquisitions and firm value: An analysis of emerging-market multinationals. Journal of International Business Studies, 40(8), 1317-1338.
    11. Barkema, H. G., Bell, J. H., & Pennings, J. M. (1996). Foreign entry, cultural barriers, and learning. Strategic management journal, 17(2), 151-166.
    12. Bartlett, C. A., & Ghoshal, S. (2000). Going global: lessons from late movers. Reading, 1(3), 75-84.
    13. Blundell, R., Griffith, R., & Van Reenen, J. (1999). Market share, market value and innovation in a panel of British manufacturing firms. The review of economic studies, 66(3), 529-554.
    14. Brandl, K., Darendeli, I., & Mudambi, R. (2019). Foreign actors and intellectual property protection regulations in developing countries. Journal of International Business Studies, 50(5), 826-846.
    15. Cantwell, J., Glac, K. and Harding, R. (2004) ‘The internationalization of R&D: the Swiss case’, Management International Review 44(Special Issue 3): 57–82.
    16. Choi, S., & McNamara, G. (2018). Repeating a familiar pattern in a new way: The effect of exploitation and exploration on knowledge leverage behaviors in technology acquisitions. Strategic Management Journal, 39(2), 356-378.
    17. Cohen, W. M., & Levinthal, D. A. (1990). Absorptive capacity: A new perspective on learning and innovation. Administrative Science Quarterly, 35(1), 128.
    18. Coriat, B., & Weinstein, O. (2002). Organizations, firms and institutions in the generation of innovation. Research Policy, 31(2), 273-290.
    19. Cui, J., & Jiang, F. (2012). State ownership effect on firms` FDI ownership decisions under institutional pressure: A study of Chinese outward-investing firms. Journal of International Business Studies , 43 (3): 264-284.
    20. Devos, E., Kadapakkam, & Krishnamurthy, S. (2009). How do mergers create value? A comparison of taxes, market power, and efficiency improvements as explanations for Synergies. The Review of Financial Studies, 22(3), 1179-1211.
    21. Deng, P. (2009). Why do chinese firms tend to acquire strategic assets in international expansion? Journal of World Business, 44(1), 74. Retrieved from
    22. Dunning, J. H. (1977). Trade, location of economic activity and the MNE: A search for an eclectic approach. In The international allocation of economic activity (pp. 395-418). Palgrave Macmillan, London.
    23. Eden, L., & Miller, S. R. (2004). Distance matters: Liability of foreignness, institutional distance and ownership strategy. In " Theories of the Multinational Enterprise: Diversity, Complexity and Relevance". Emerald Group Publishing Limited.
    24. Frost, T.S. (2001) ‘The geographic sources of foreign subsidiaries’innovations’, Strategic Management Journal 22(2): 101–123.
    25. Furman, J. L., Porter, M. E., & Stern, S. (2002). The determinants of national innovative capacity. Research policy, 31(6), 899-933.
    26. Graebner, M. E., Eisenhardt, K. M., & Roundy, P. T. (2010). Success and failure in technology acquisitions: Lessons for buyers and sellers. The Academy of Management Perspectives, 24(3), 73.
    27. Grant, R. M. (1996). Toward a knowledge-based theory of the firm.Strategic Management Journal, 17(Special Issue): 109–122.
    28. Haleblian, J., Devers, C. E., McNamara, G., Carpenter, M. A., & Davison, R. B. (2009). Taking stock of what we know about mergers and acquisitions: A review and research agenda. Journal of Management, 35(3), 469-502.
    29. Henderson, R. M., & Clark, K. B. (1990). Architectural innovation: The reconfiguration of existing product technologies and the failure of established firms. Administrative science quarterly, 9-30.
    30. Henderson, R., & Cockburn, I. (1994). Measuring competence? Exploring firm effects in pharmaceutical research. Strategic management journal (1986-1998), 15, 63.
    31. Hitt, M. A., Hoskisson, R. E., Ireland, R. D., & Harrison, J. S. (1991). Are acquisitions a poison pill for innovation? The Executive, 5(4), 22.
    32. Hitt, M. A., Hoskisson, R. E., Johnson, R. A., & Moesel, D. D. (1996). The market for corporate control and firm innovation. Academy of Management Journal, 39(5), 1084-1119.
    33. Hitt, M. A., Dacin, M. T., Levitas, E., Arregle, J. L., & Borza, A. (2000). Partner selection in emerging and developed market contexts: Resource-based and organizational learning perspectives. Academy of Management journal, 43(3), 449-467.
    34. Hoskisson, R., Wright, M., Filatotchev, I., & Peng, M. (2013).Emerging multinationals from mid-range economies: The influence of institutions and factor markets. Journal of Management Studies, 50(7): 1295–1321.
    35. Jacobsen, K. (2006). Institutions, institutional change, and economic performance. Business History Review, 80(1), 151-155.
    36. Meyer, K. E., Wright, M., & Pruthi, S. (2009). Managing knowledge in foreign entry strategies: a resource‐based analysis. Strategic management journal, 30(5), 557-574.
    37. Kim, J., Lee, S. J., & Marschke, G. (2009). Relation of firm size to R&D productivity. International Journal of Business and Economics, 8(1), 7-19.
    38. Lu, J., Liu, X., Wright, M., & Filatotchev, I. (2014). International experience and FDI location choices of chinese firms: The moderating effects of home country government support and host country institutions. Journal of International Business Studies, 45(4), 428-449.
    39. Luo, Y., & Tung, R. L. (2007). International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies. 38 (4): 481-498.
    40. Madhok, A., & Keyhani, M. (2012). Acquisitions as entrepreneurship: Asymmetries, opportunities, and the internationalization of multinationals from emerging economies. Global Strategy Journal, 2(1), 26-40.
    41. Martin, X., & Salomon, R. (2003). Tacitness, learning, and international expansion: A study of foreign direct investment in a knowledge-intensive industry. Organization Science, 14(3):297–311.
    42. Mathews, J., Zander, I. (2007). The international entrepreneurial dynamics of accelerated internationalisation. J Int Bus Stud 38, 387–403 (2007).
    43. McNamara, G. M., Haleblian, J., & Dykes, B. J. (2008). The performance implications of Implications of participating in an acquisition wave: early mover advantages, bandwagon effects, and the moderating influence of industry characteristics and acquirer tactics. Academy of Management Journal, 51(1), 113.
    44. Meyer, K. E.,Wright, M., & Pruthi, S. 2009. Managing knowledge in foreign entry strategies: A resource-based analysis. Strategic Management Journal, 30(5): 557–574.
    45. Nordhaus, W.D. (1969) Invention Growth, and Welfare: A Theoretical Treatment of Technological Change, MIT Press: Cambridge, MA.
    46. Porter, M.E. (1990) The Competitive Advantage of Nations, Free Press: New York.
    47. North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge university press.
    48. Paruchuri, S., Nerkar, A., & Hambrick, D. C. (2006). Acquisition integration and productivity losses in the technical core: Disruption of inventors in acquired companies. Organization science, 17(5), 545-562.
    49. Phelps, C., Heidl, R., & Wadhwa, A. (2012). Knowledge, Networks, and Knowledge Networks: A Review and Research Agenda. Journal of Management, 38(4), 1115–1166.
    50. Puranam, P., & Srikanth, K. (2007). What they know vs. what they do: How acquirers leverage technology acquisitions. Strategic Management Journal, 28(8), 805.
    51. Puranam, P., Singh, H., & Zollo, M. (2006). Organizing for innovation: managing the coordination-autonomy dilemma in technology acquisitions. Academy of Management Journal, 49(2), 263-280.
    52. Rabbiosi, L., Elia, S., & Bertoni, F. (2012). Acquisitions by EMNCs in developed markets. Management International Review, 52(2), 193-212.
    53. Reddy, K. S., Nangia, V. K., & Agrawal, R. (2014). The 2007–2008 global financial crisis, and cross-border mergers and acquisitions: A 26-nation exploratory study. Global Journal of Emerging Market Economies, 6(3), 257-281.
    54. Roberts, P. W. (1999). Product innovation, product–market competition and persistent profitability in the US pharmaceutical industry. Strategic management journal, 20(7), 655-670.
    55. Karim, S., & Mitchell, W. (2004). Innovating through acquisition and internal development: A quarter-century of boundary evolution at Johnson & Johnson. Long Range Planning, 37(6), 525-547.
    56. Schneider, M. R., Schulze-bentrop, C., & Paunescu, M. (2010). Mapping the institutional capital of high-tech firms: A fuzzy-set analysis of capitalist variety and export performance. Journal of International Business Studies, 41(2), 246-266.
    57. Scott, W. R. (2013). Institutions and organizations (4th ed.) Thousand Oaks, CA: Sage.
    58. Sears, J., & Hoetker, G. (2014). Technological overlap, technological capabilities, and resource recombination in technological acquisitions. Strategic Management Journal, 35(1), 48-67.
    59. Valentini, G. (2012). Measuring the effect of M&A on patenting quantity and quality. Strategic Management Journal, 33(3), 336.
    60. Wright, P., Kroll, M., & Elenkov, D. (2002). Acquisition returns, increase in firm size, and chief executive officer compensation: The moderating role of monitoring. Academy of Management Journal, 45(3), 599-608.
    61. Zabinski, E., Freeman, D., & Jiang, X. (2009). Navigating the challenges of cross-border M&A. The Deal Magazine, May, 29.
    62. Zahra, S. A., & Hayton, J. C. (2008). The effect of international venturing on firm performance: The moderating influence of absorptive capacity. Journal of business venturing, 23(2), 195-220.
    描述: 碩士
    國立政治大學
    企業管理研究所(MBA學位學程)
    109363053
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0109363053
    資料類型: thesis
    DOI: 10.6814/NCCU202100844
    顯示於類別:[企業管理研究所(MBA學位學程)] 學位論文

    文件中的檔案:

    檔案 描述 大小格式瀏覽次數
    305301.pdf1983KbAdobe PDF258檢視/開啟


    在政大典藏中所有的資料項目都受到原著作權保護.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏,無償提供學術研究與公眾教育等公益性使用,惟仍請適度,合理使用本網站之內容,以尊重著作權人之權益。商業上之利用,則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作,已盡力防止侵害著作權人之權益,如仍發現本網站之數位內容有侵害著作權人權益情事者,請權利人通知本網站維護人員(nccur@nccu.edu.tw),維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回饋