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本文以2008年至2015年的上市公司并购重组统计数据为基础,以并购重组事件中的目标公司作为研究对象,以研发投入、研发投入占比、专利申请数、发明专利申请数、研发人员数和研发人员占比等六个变量建立了科技创新衡量指标体系,以行业市场竞争度和研发人员参股作为虚拟变量,并以实验组与对照组对比研究了并购重组事件对我国上市公司科技创新水平的影响。结果显示,并购重组能够促进企业科技创新水平;并购重组过程中研发人员参股能够促进企业科技创新水平;并购重组后行业科技创新水平得到显著提升。
Based on the statistical data of mergers and acquisitions of listed companies from 2008 to 2015, this paper takes the target company in M & A and restructuring as the research object, and takes the research and development investment, R & D investment proportion, patent application number, invention patent application number, R & D personnel And R & D personnel accounting for six variables to establish a scientific and technological innovation measurement index system, the industry market competition and R & D staff participation as a dummy variable, and the experimental group and control group comparative study of M & A and restructuring events on China’s listed companies technological innovation level Impact. The results show that mergers and acquisitions can promote the level of technological innovation; mergers and acquisitions of R & D staff in the process of mergers and acquisitions can promote the level of technological innovation; industry mergers and acquisitions after the technological innovation level has been significantly improved.