The Influence of Intellectual Property Mergers and Acquisitions on Long-Term Financial Performance: Insights from Chinese Companies

Mingyue Fang ()
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Mingyue Fang: Chulalongkorn University

A chapter in Proceedings of the 2025 3rd International Academic Conference on Management Innovation and Economic Development (MIED 2025), 2025, pp 809-819 from Springer

Abstract: Abstract This study examines the long-term financial effects of intellectual property-related M&As (IP M&As) in China, using ROIC as the main performance metric. Based on a panel of listed firms from 2000–2020, it first applies a DID model to compare IP M&As with regular deals, then extends to a DDD framework to assess directional heterogeneity (North-to-South, South-to-North, intra-regional). Results show IP M&As improve ROIC, especially in North-to-South transactions. Mechanism analysis confirms enhanced innovation output, though its financial conversion may face institutional or integration frictions. The study highlights the strategic value of IP M&As and the importance of regional context in post-deal performance.

Keywords: IP M&A, ROIC; China, Regional Heterogeneity, Innovation Mechanism, Triple Difference, M&A Direction (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-835-6_85

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DOI: 10.2991/978-94-6463-835-6_85

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