Research on the Impact of Business Strategy on Knowledge-transfer Merger and Acquisition with Innovation Level as the Mediator Variable

Abstract

Based on the knowledge-transfer M&A data of listed companies from 2011 to 2016 in China, this paper use logistic regression and multiple linear regression to construct a mediating effect model to determine whether business strategy is associated with knowledge-transfer M&A by taking innovation level as a mediator variable. After processing data of prospectors and defenders through strategic scoring, this paper applies logistic regression to examine the impact of Business Strategy on knowledge-transfer M&A，and applies multiple linear regression to examine the impact of Business Strategy on innovation level and the impact of knowledge-transfer M&A on innovation level. From data analysis, this paper concludes that Prospectors are more likely to conduct knowledge-transfer M&A and these companies are more likely to get a higher innovation level. Besides, the Business Strategy exerts influence on knowledge-transfer M&A by innovation level.