M&A goodwill and corporate technological innovation: The mediating moderating effect of stock pledges.

ABSTRACT: Identifying whether and how merger and acquisition (M&A) goodwill influences corporate technology innovation is a critical topic in the context of growing M&A activities. Based on the panel data of 2,634 Chinese non-financial listed companies from 2007 to 2019, this paper adopts multiple linear regression and the Bootstrap method to investigate the impact of M&A goodwill on corporate technological innovation and the mechanism through which M&A goodwill affects technological innovation. The results show that: (1) There is a significant negative correlation between M&A goodwill and technological innovation input, with financial constraints acting as the main channels. (2) Non-private corporations enjoy a higher level of financing capacity in terms of debt and equity compared with private cor

SUBMITTER: Zhang Y 

PROVIDER: S-EPMC9423683 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature