The Impact of Interactive Resources on the M&A Performance of High-technology Firms

• Main Authors: Pan Po Hung, 潘柏宏
• Other Authors: Hong Min Chow
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/15543457734114084363

碩士 === 中國文化大學 === 國際企業管理學系碩士在職專班 === 103 === Both companies are through mergers and acquisitions to increase the competitive advantage depends on the resources of two companies complement each other. If both companies' resources generate interactive alternative, it will offset the advantage of ac-quisitions. The research is study as the object as "high-technology firms" to probe the two high-technology companies in three types of resources with mergers and acquisi-tions (technical resources, human resources and physical resources) interaction for the impact of M&A performance. In addition, the research also investigates the effect of M&A performance for pre-merger with the two companies' respective put in resources result. In this research, all listed on the 1,546 Taiwanese companies (854 listed companies, 692 OTC companies) was observed from 2001 to 2014 during the 13 years of high-technology firms to mergers and acquisitions. Search both two companies disclose financial report and find out only 25 successful M&A cases including total 50 compa-nies samples for empirical analysis. The finding shows when three types of resources put in the acquiring and acquired companies, only the technical resources have significant influence. The technical re-sources put in the acquiring of firms will decrease M&A performance but the acquired company opposite. Furthermore, when three types of resources are put in companies, the only two mergers and acquiring companies generate complementary of technical resources and show significant positive impact on M&A performance. The impact of M&A performance is not affected significant from the rest two types of resources (hu-man resources, physical resources) put in and interaction.