| Summary: | 碩士 === 國立中山大學 === 管理學院高階經營碩士學程在職專班 === 107 === In recent years, there are many M&A transactions in the world. The number and amount of transactions are very large. The technology would require a long time of research and development so that it cannot keep up with changes in the market. To make a profit, technology M&A has become an important motivation. Therefore, this study wants to understand whether the performance of the acquirer will have an impact after the technology M&A.
This study establishes conditions of samples.
1. Period: 2000-2017.
2. Status: Completed.
3. Acquirer: Company at stock exchange or over-the-counter market.
4. The number of patents: More than 10.
5. Patents status: Non-dead.
After selecting sample, the patent is analyzed into 7 indicators. The model is composed of patents, M&A types and control variables.
The results show that innovation ability and patent strategy have a significant impact on performance. Among them, the patent strategy is divided into four types. It shows that when the enterprise pursues the quality and quantity of patents at the same time, it is easy to form a huge cost. Which is not conducive to the better performance of the acquirer. But if the seller does not pay attention to the patent, the performance of the acquirer will also become worse. Only when pursuing one of quality or quantity, acquirer of Taiwan has better performance.
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