数字型跨境并购与企业数字化转型
Digital Cross-Border M&A and Enterprise Digital Transformation
DOI: 10.12677/ecl.2026.152188, PDF,   
作者: 黄欣铖:南京邮电大学经济学院,江苏 南京
关键词: 数字并购跨境并购数字化转型Digital M&A Cross-Border M&A Digital Transformation
摘要: 本文基于2014~2022年BvD-Zephyr数据库与CSMAR、CNRDS数据库匹配得到的微观数据,使用多时点双重差分法实证检验了数字型跨境并购对企业数字化转型的影响。研究结果显示:数字型跨境并购通过驱动企业研发创新和增强企业知识基础赋能企业数字化转型。本研究聚焦数字型跨境并购的微观经济影响,对于数字经济背景下企业加速数字化转型进程,培育数字竞争新优势有着重要的理论和现实意义。
Abstract: Based on the micro data obtained by matching BvD-Zephyr database with CSMAR and CNRDS databases from 2014 to 2022, this paper uses the multi-time difference-in-differences method to empirically test the impact of digital cross-border mergers and acquisitions on enterprises’ digital transformation. The results show that digital cross-border M&A enables enterprises’ digital transformation by driving enterprises’ R&D innovation and enhancing enterprises’ knowledge base. This study focuses on the microeconomic impact of digital cross-border M&A, which has important theoretical and practical significance for enterprises to accelerate the process of digital transformation and cultivate new digital competitive advantages under the background of digital economy.
文章引用:黄欣铖. 数字型跨境并购与企业数字化转型[J]. 电子商务评论, 2026, 15(2): 529-539. https://doi.org/10.12677/ecl.2026.152188

参考文献

[1] 唐浩丹, 蒋殿春. 数字并购与企业数字化转型: 内涵、事实与经验[J]. 经济学家, 2021(4): 22-29.
[2] UNCTAD (2017) World Investment Report: Investment and the Digital Economy. United Nations Conference on Trade and Development, United Nations.
[3] 蒋殿春, 唐浩丹. 数字型跨国并购: 特征及驱动力[J]. 财贸经济, 2021, 42(9): 129-144.
[4] 孙伟增, 毛宁, 兰峰, 等. 政策赋能、数字生态与企业数字化转型——基于国家大数据综合试验区的准自然实验[J]. 中国工业经济, 2023(9): 117-135.
[5] 王宏鸣, 孙鹏博, 杨晨. “营改增”促进了企业数字化转型吗? [J]. 中南财经政法大学学报, 2023(5): 44-56, 66.
[6] Lucas, H.C., Agarwal, R., Clemons, E.K., El Sawy, O.A. and Weber, B. (2013) Impactful Research on Transformational Information Technology: An Opportunity to Inform New Audiences. MIS Quarterly, 37, 371-382. [Google Scholar] [CrossRef
[7] 吴江, 陈婷, 龚艺巍, 等. 企业数字化转型理论框架和研究展望[J]. 管理学报, 2021, 18(12): 1871-1880.
[8] Nambisan, S., Lyytinen, K., Majchrzak, A. and Song, M. (2017) Digital Innovation Management: Reinventing Innovation Management Research in a Digital World. MIS Quarterly, 41, 223-238. [Google Scholar] [CrossRef
[9] 周鹏, 王卓, 谭常春, 等. 数字技术创新的价值——基于并购视角和机器学习方法的分析[J]. 中国工业经济, 2024(2): 137-154.
[10] Vial, G. (2021) Understanding Digital Transformation: A Review and a Research Agenda. In: Hinterhuber, A., Vescovi, T. and Checchinato, F., Eds., Managing Digital Transformation, Routledge, 13-66. [Google Scholar] [CrossRef
[11] Mendling, J., Pentland, B.T. and Recker, J. (2020) Building a Complementary Agenda for Business Process Management and Digital Innovation. European Journal of Information Systems, 29, 208-219. [Google Scholar] [CrossRef
[12] 黄勃, 李海彤, 刘俊岐, 等. 数字技术创新与中国企业高质量发展——来自企业数字专利的证据[J]. 经济研究, 2023, 58(3): 97-115.
[13] Matt, C., Hess, T. and Benlian, A. (2015) Digital Transformation Strategies. Business & Information Systems Engineering, 57, 339-343. [Google Scholar] [CrossRef
[14] 朱秀梅, 林晓玥. 企业数字化转型: 研究脉络梳理与整合框架构建[J]. 研究与发展管理, 2022, 34(4): 141-155.
[15] Karimi, J. and Walter, Z. (2015) The Role of Dynamic Capabilities in Responding to Digital Disruption: A Factor-Based Study of the Newspaper Industry. Journal of Management Information Systems, 32, 39-81. [Google Scholar] [CrossRef
[16] 李潇, 韩剑. 数字型跨国公司国际直接投资的区位选择: 理论变革、新型特点与中国因应[J]. 经济学家, 2023(10): 65-75.
[17] 苏二豆, 金祥义, 薛军. 数字型OFDI与企业创新表现: 增量还是提质[J]. 国际商务(对外经济贸易大学学报), 2024(1): 58-77.
[18] Hanelt, A., Firk, S., Hildebrandt, B. and Kolbe, L.M. (2020) Digital M&A, Digital Innovation, and Firm Performance: An Empirical Investigation. European Journal of Information Systems, 30, 3-26. [Google Scholar] [CrossRef
[19] 方森辉, 唐浩丹, 蒋殿春. 数字并购与企业创新——来自中国上市企业的经验证据[J]. 管理科学, 2022, 35(6): 83-96.
[20] 孙黎, 张弛. 数字型跨国并购对中国企业全要素生产率的影响[J]. 经济管理, 2023, 45(7): 22-37.
[21] 唐浩丹, 方森辉, 蒋殿春. 数字化转型的市场绩效: 数字并购能提升制造业企业市场势力吗? [J]. 数量经济技术经济研究, 2022, 39(12): 90-110.
[22] 吴非, 常曦, 任晓怡. 政府驱动型创新: 财政科技支出与企业数字化转型[J]. 财政研究, 2021(1): 102-115.
[23] 王晶晶, 岳中刚, 陈金丹. 服务业对外直接投资与服务企业生产率: 基于微观层面的经验证据[J]. 国际贸易问题, 2022(4): 73-90.
[24] Nocke, V. and Yeaple, S. (2007) Cross-Border Mergers and Acquisitions Vs. Greenfield Foreign Direct Investment: The Role of Firm Heterogeneity. Journal of International Economics, 72, 336-365. [Google Scholar] [CrossRef
[25] 李纪琛, 刘海建. 中国企业数字型跨国并购驱动机制分析——基于fsQCA方法[J]. 科学学与科学技术管理, 2024, 45(2): 152-168.
[26] Schweisfurth, T.G. and Raasch, C. (2018) Absorptive Capacity for Need Knowledge: Antecedents and Effects for Employee Innovativeness. Research Policy, 47, 687-699. [Google Scholar] [CrossRef
[27] 陈培祯, 曾德明. 网络位置、知识基础对企业新产品开发绩效的影响[J]. 管理评论, 2019, 31(11): 128-138.
[28] 程新生, 王向前. 技术并购与再创新——来自中国上市公司的证据[J]. 中国工业经济, 2023(4): 156-173.
[29] Sears, J. and Hoetker, G. (2013) Technological Overlap, Technological Capabilities, and Resource Recombination in Technological Acquisitions. Strategic Management Journal, 35, 48-67. [Google Scholar] [CrossRef
[30] 袁淳, 肖土盛, 耿春晓, 等. 数字化转型与企业分工: 专业化还是纵向一体化[J]. 中国工业经济, 2021(9): 137-155.
[31] 吴非, 胡慧芷, 林慧妍, 等. 企业数字化转型与资本市场表现——来自股票流动性的经验证据[J]. 管理世界, 2021, 37(7): 130-144, 10.
[32] 赵宸宇, 王文春, 李雪松. 数字化转型如何影响企业全要素生产率[J]. 财贸经济, 2021, 42(7): 114-129.
[33] de Chaisemartin, C. and D’Haultfœuille, X. (2020) Two-Way Fixed Effects Estimators with Heterogeneous Treatment Effects. American Economic Review, 110, 2964-2996. [Google Scholar] [CrossRef
[34] Goodman-Bacon, A. (2021) Difference-In-Differences with Variation in Treatment Timing. Journal of Econometrics, 225, 254-277. [Google Scholar] [CrossRef
[35] Fisman, R. and Svensson, J. (2007) Are Corruption and Taxation Really Harmful to Growth? Firm Level Evidence. Journal of Development Economics, 83, 63-75. [Google Scholar] [CrossRef
[36] 江艇. 因果推断经验研究中的中介效应与调节效应[J]. 中国工业经济, 2022(5): 100-120.
[37] 万筱雯, 杨波. 企业跨国并购的协同创新效应[J]. 财经研究, 2023, 49(12): 34-47.
[38] 陈爱贞, 张鹏飞. 并购模式与企业创新[J]. 中国工业经济, 2019(12): 115-133.
[39] 张永珅, 李小波, 邢铭强. 企业数字化转型与审计定价[J]. 审计研究, 2021(3): 62-71.