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The Impact of Technology Mergers and Acquisitions on Enterprise Sustainable Competitiveness

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  • Xinao Li

    (School of Economics and Management, Beijing Jiaotong University, Beijing 100044, China)

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.

Suggested Citation

  • Xinao Li, 2024. "The Impact of Technology Mergers and Acquisitions on Enterprise Sustainable Competitiveness," Sustainability, MDPI, vol. 16(6), pages 1-31, March.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:6:p:2291-:d:1354281
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    2. Fang, Xing & Sun, Yiyao, 2025. "Does digital transformation affect enterprise executives' remuneration governance?," Finance Research Letters, Elsevier, vol. 77(C).

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