关键词: 数字并购, 新质生产力, 技术获取, 整合升级

Abstract: Mergers and acquisitions, as a key means of corporate strategic layout, have always been highly valued by enterprises. This paper conducts an empirical research on mergers and acquisitions of Chinese A-share listed companies from 2012 to 2022. The findings show that digital mergers and acquisitions can promote the development of new quality productivie forces in enterprises. The mechanism analysis shows that digital mergers and acquisitions can not only increase the digital knowledge stock of the acquiring companies, but also enhance their innovation, absorption, and adaptation capabilities. Therefore, digital mergers and acquisitions can promote the development of new quality productivie forces in the acquiring companies. The heterogeneity analysis shows that in companies with extremely high tone of accumulation in merger and acquisition announcements and those with good digital foundations, digital mergers and acquisitions have a more significant promoting effect on the development of new quality productivie forces in enterprises. To this end, the government should encourage companies to engage in digital mergers and acquisitions. Enterprises should attach importance to the organizational integration and resource coordination after digital mergers and acquisitions, and leverage the value creation potential of digital mergers and acquisitions through knowledge transfer and technology integration, so as to promote the development of new quality productivie forces in enterprises.

Key words: digital mergers and acquisitions, new quality productivie forces, technology acquisition, integration upgrades