全球价值链中领导企业横向一体化、技术溢出与创新

摘要

全球价值链背景下,企业之间的并购行为呈现新的特点,领导企业的并购是更为常见的并购扩张形式,其在全球范围的跨国并购具有代表性.在一个连续双寡头的价值链结构中,引入技术溢出参数,构建理论模型研究全球价值链中领导企业的横向一体化行为、技术溢出对创新激励的影响.结果表明:随着市场需求规模扩大、并购成本降低,行业内技术溢出水平较高情形下,领导企业更倾向于通过兼并行为来获取价值链中的租金.全球价值链中,较高技术溢出水平不利于领导企业的创新投资,横向一体化行为也不利于价值链纵向关联的上、下游企业的创新投资激励.启示是,以激励机制引导全球价值链中的本土龙头企业通过"跨价值链的学习"逐步提高技术创新的领先优势,增强其在全球价值链的地位和对价值链的综合管理能力.%Under the background of global value chain,M&A of leading enterprises is a more common form of M&A expansion. This paper introduces the technology spillover parameters in the value chain structure of a continuous duopoly,and constructs a theoretical model to study the influence of the horizontal integration behavior,technology spillover and innovation incentive in the global value chain. In this paper,it is found that in the case of the expansion of the market demand scale,the reduction of the cost of merger and acquisi-tion,and the high level of technology spillover in the industry,the leading enterprises are more inclined to ob-tain the rent in the value chain through the merger behavior. In the global value chain,the high level of tech-nology spillover is not conducive to the innovative investment of the leading enterprises,and the lateral integra-tion behavior is not conducive to the innovation investment incentive of the upstream and downstream enterpri-ses. The inspiration of this paper is to guide local leading enterprises through the "cross-value chain learn-ing"to gradually improve the leading advantage of technological innovation through the incentive mechanism, thus enhancing the status and comprehensive management ability of the global value chain.