|
|
|
| The Impact of M&A on the R&D Performance of the China Listed Company——A Case Study of the Pharmaceutical Sector |
| JYANG Jun min1,CAO Zhi guang2,2 |
| 1. Shanghai Institute of Foreign Trade2. |
|
|
|
|
Abstract Acquiring knowledge and technology through M&A is an important way for the enterprise to improve core competency. Pharmaceutical sector is a knowledge-intensive department, whose core competency can be measured by quantity of patents. Taking the quantity of patents changing before and after M&A as dependent variables, the asset scale, the times of M&A, original patent number, existing R&D intensity as independent variables, the authors regresses the panel data of the pharmaceutical sector from 2006 to 2009 by OLS. The conclusion is that technology M&A will improve the R&D performance, while non-technology M&A will be negative for the R&D performance.
|
|
Received: 15 November 2011
|
|
|
|
Corresponding Authors:
JYANG Jun min
|
|
|
|
|
|
|
2012, Vol. 1 
浙公网安备 33011802000512号