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Technology-Driven Cross-Border M&A, CSR, and Enterprise Innovation Performance—Evidence from China
| Content Provider | MDPI |
|---|---|
| Author | Li, Jingjing Wu, Xianming |
| Copyright Year | 2022 |
| Description | China’s technology development has entered a new stage, one of technology-driven cross-border mergers and acquisitions (TC M&A), which has become an important channel for emerging markets to achieve a technological leap. During this process, the effect of corporate social responsibility (CSR) is very complex. This paper took 230 cross-border M&A events in China as samples. Using the individual–time dual fixed effect model, we found that TC M&A and CSR played positive roles in promoting the innovation performance of the parent company. However, CSR negatively moderated the relationship between TC M&A and enterprise innovation. When enterprises entered a host country with close diplomatic institutional distance, the moderating effect of CSR on TC M&A and enterprise innovation performance became positive. When enterprises entered a host country with close institutional distance, the moderating effect of CSR on TC M&A and enterprise innovation performance was not significant. The findings of this paper not only enrich the stakeholder theory, but also showcase the important role of guiding cross-border investment enterprises for the implementation of CSR behaviors. |
| Starting Page | 4169 |
| e-ISSN | 20711050 |
| DOI | 10.3390/su14074169 |
| Journal | Sustainability |
| Issue Number | 7 |
| Volume Number | 14 |
| Language | English |
| Publisher | MDPI |
| Publisher Date | 2022-03-31 |
| Access Restriction | Open |
| Subject Keyword | Sustainability Information and Library Science Tc M&a Csr Enterprise Innovation Diplomatic Distance Institutional Distance |
| Content Type | Text |
| Resource Type | Article |
