国际经济与贸易学院知识库

在经济发展全球化的时代背景里，公司跨国并购逐渐发展成为社会经济发展的主要应用方式，愈来愈多的中国企业开始主动参加到了全球经济合作过程中，经过跨国并购融入全球经济新格局。当前，企业提升竞争力的核心在于提高自身技术创新能力，进行国际化战略的目光也主要集中在技术并购上。近年来中国企业虽然进行了很多海外并购活动，但成功率不高，其中完成并购但在整合阶段失败的企业不在少数。因此，企业要想通过跨国并购获得先进技术资源来提升竞争力，不仅在于完成并购活动，更要重视跨国并购过程的高效整合。

根据跨国并购整合模式和公司技术创新的相关理论，从跨国并购整合模式分类入手，借鉴“模糊控制理论”，将整合模式划分为“轻触”模式与“重触”模式，经过产品整合、组织整合、工艺技术整合、等多个层面的反应体现，对其展开系统深入的定义。与此同时参考依据“双元并进创新型战略”提出两种技术创新形式：“探索型创新”与“应用型创新”。根据两种模式中企业自主性的不同，分别匹配不同的创新形式，并通过分析两起跨国并购经典案例来佐证这种匹配关系的合理性。最后得出结论：轻触模式匹配探索型创新对企业技术创新的影响是正面的，重触模式匹配应用型创新对企业技术创新的影响是正面的，同时也不能忽略企业综合素质在其中所起到的基础性作用。

In the context of economic globalisation, cross-border M&A has become an important tool for economic development, and more and more Chinese companies are actively participating in international economic cooperation and integrating into the new global economic landscape through cross-border M&A. At present, the core of an enterprise's competitiveness lies in improving its technological innovation capability, and the focus of its internationalisation strategy is mainly on technological M&A. In recent years, Chinese companies have undertaken many overseas M&A activities, but the success rate has been low, with many of them completing their acquisitions but failing in the integration phase. Therefore, in order to obtain advanced technological resources through cross-border M&A to enhance competitiveness, it is not only necessary to complete the M&A activities, but also to pay attention to the effective integration during the cross-border M&A process.

Based on the theory of cross-border M&A integration mode and enterprise technology innovation, this paper starts from the classification of cross-border M&A integration mode, and draws on the "fuzzy control theory" to classify the integration mode into "light touch" mode and "heavy touch" mode. The "light-touch" and "heavy-touch" models are classified by the "fuzzy control theory", and are defined through the five aspects of product integration, organizational integration, process integration, market integration and marketing integration. At the same time, two forms of technological innovation are proposed according to the "dual innovation strategy": "exploratory innovation" and "exploitative innovation". The two models are matched with different forms of innovation according to the differences in corporate autonomy, and two classic cases of cross-border mergers and acquisitions are analysed to support the rationality of this matching relationship. The final conclusion is that the light-touch integration model with exploratory innovation has a positive impact on technological innovation, while the heavy-touch integration model with exploitative innovation has a positive impact on technological innovation, without neglecting the fundamental role played by the comprehensive quality of the enterprise.