CAJ | 학술논문

通过并购来获取技术和知识是企业提高核心竞争力的重要手段,医药行业是知识密集型行业,专利数量是衡量一个医药企业是否具有竞争力的重要指标。文章以医药行业上市公司并购前后的专利增量作为研发绩效指标,以是否发生技术并购、并购企业规模、并购次数、现有专利水平、研发强度为自变量,对2006-2009年的面板数据进行了回归分析。实证结果认为：技术并购对研发绩效有正面作用,而其它目的的并购对研发绩效有负面作用。
통과병구래획취기술화지식시기업제고핵심경쟁력적중요수단,의약행업시지식밀집형행업,전리수량시형량일개의약기업시부구유경쟁력적중요지표。문장이의약행업상시공사병구전후적전리증량작위연발적효지표,이시부발생기술병구、병구기업규모、병구차수、현유전이수평、연발강도위자변량,대2006-2009년적면판수거진행료회귀분석。실증결과인위：기술병구대연발적효유정면작용,이기타목적적병구대연발적효유부면작용。
Acquiring knowledge and technology through MA is an important way for the enterprise to improve core competency.Pharmaceutical sector is a knowledge-intensive department,whose core competency can be measured by quantity of patents.Taking the quantity of patents changing before and after MA as dependent variables,the asset scale,the times of MA,original patent number,existing RD intensity as independent variables,the authors regresses the panel data of the pharmaceutical sector from 2006 to 2009 by OLS.The conclusion is that technology MA will improve the RD performance,while non-technology MA will be negative for the RD performance.