Whether a company"s ownership structure is good or not is often justified by corporate performance and technical efficiency. Statistics in this article finds that among listed companies after technology mergers and acquisitions (M&A), above half of th...
Whether a company"s ownership structure is good or not is often justified by corporate performance and technical efficiency. Statistics in this article finds that among listed companies after technology mergers and acquisitions (M&A), above half of them have short-term benefits decline significantly. Considering the Strong reliance of knowledge transfer on the environment, while taking the restraining level of benefit decline after technology M&A as a short-term evaluation standard for ownership structure choice, this paper researches the critical role of ownership structures in curbing the decrease of benefits after technology M&A. And the empirical data of listed companies indicates that in listed companies with high ownership concentration, the "supporting effect" of majority shareholders" behavior can exert more influence to curb the benefit decline after technology M&A than the "tunneling effect". Moreover, the ownership balance in large degree will confine the majority stockholders" will and behaviro, which therefore can weaken their "support effect"and aggravate the benefit edcline after technology M&A.