The Impact of Technology Mergers and Acquisitions on Enterprise Sustainable Competitiveness

Xinao Li ()
Additional contact information
Xinao Li: School of Economics and Management, Beijing Jiaotong University, Beijing 100044, China

Sustainability, 2024, vol. 16, issue 6, 1-31

Abstract: In the context of global competition, enterprises are increasingly adopting technology mergers and acquisitions (M&As) as a strategic approach to enhance their sustainable competitiveness. This study investigates the impact of technology M&As on the sustainable competitiveness of enterprises, focusing on Chinese A-share listed companies from 2007 to 2021. Employing a staggered difference-in-difference (DID) model for empirical analysis, the findings reveal that technology M&As significantly boost the sustainable competitiveness of enterprises by 6.2% compared to non-technology M&A firms. Moreover, the study employs a mediation effect model to demonstrate that technology M&As contribute to improved enterprise productivity levels and market power. Heterogeneity analysis further indicates that the positive effects are more pronounced in firms with a strong ESG performance and those with lower levels of digital development. The study offers valuable insights for corporate strategic planning and policy-making, emphasizing the role of technology M&As in fostering enterprise sustainability and competitiveness.

Keywords: technology M&A; sustainable competitiveness; enterprise productivity; market power; ESG; digitalization level (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/16/6/2291/pdf (application/pdf)
https://www.mdpi.com/2071-1050/16/6/2291/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:16:y:2024:i:6:p:2291-:d:1354281

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().