Research on the Influence Factors of the Performance of corporate Mergers and Acquisitions based on the perspective of management innovation

Abstract

Enterprises will generate mergers and acquisitions to expand their value, which will have far-reaching effects on both parties' current benefits and future development. Moreover, from the perspective of management innovation capability, the study of mergers and acquisitions performance influencing factors is essential for enterprises to improve internal control management and increase value creation. This paper first uses the mixed cross-sectional data of listed companies as the research sample. Then, based on the volatility and conflict perspective of the indicators, we quantified the corporate management innovation capability using information weight, independence weight, and the TOPSIS method. Then, operating cash flow, firm size, and mergers and acquisitions size were used as control variables to investigate the effect of management innovation capability on corporate mergers and acquisitions performance using a robust linear regression model, and a robustness test was conducted. The empirical results show that management innovation capability has a significant positive relationship with mergers and acquisitions performance, which confirms that management innovation capability is a requirement for firms to create practical value. Finally, this paper puts forward relevant suggestions for enterprises to achieve high-quality development and improve mergers and acquisitions performance.