Analysis of Technology Mergers and Acquisitions on Enterprises’ Green Technology Innovation: Moderating Effects of Environmental Regulation and Environmental Uncertainty

Chao Chen, Jianmin Liu, Ying Tao, Wenye Fan and Jingjing Qian ()
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Chao Chen: School of Economics and Management, East China Jiaotong University, Nanchang 330013, China
Jianmin Liu: School of Economics and Management, Nanchang University, Nanchang 330031, China
Ying Tao: School of Economics and Management, Nanchang University, Nanchang 330031, China
Wenye Fan: School of Economics and Management, Nanchang University, Nanchang 330031, China
Jingjing Qian: School of Economics and Management, Nanchang University, Nanchang 330031, China

Sustainability, 2024, vol. 16, issue 20, 1-31

Abstract: Enterprises’ green technology innovation is often subject to dilemmas related to resource limitations and innovation compensation. Technology mergers and acquisitions (M&A) may incentivize green innovation but may also have an inhibiting effect. We took A-share listed companies in China from 2007 to 2021 as a sample, using 1577 technology M&A samples to examine the impact of technology M&A on enterprises’ green technology innovation, including the moderating effects of environmental regulation, environmental uncertainty, and board members’ educational background. We found that technology M&A can effectively stimulate enterprises’ green technology innovation. We also found that as the diversity of board members’ educational background, environmental uncertainty, and environmental regulations increase, the effect of technology M&A on incentives for green technology innovation becomes clearer. The research results provide a theoretical basis for optimizing the market environment of technology M&A, reasonable M&A modes, and green technology innovation.

Keywords: technology M&A; frequency M&A; incentive effect; inhibitory effect; green technology innovation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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