摘要
低端产能过剩与高端供给不足并存,是我国新能源行业产能过剩的重要特征,企业并购作为改善产业结构、化解低端产能过剩、培育企业自主创新能力的重要手段被提出和推广。2010年以来我国新能源行业一直处于中度产能过剩,并购显著提高了企业产能利用率,但在引入代表企业技术创新的中介变量后发现,并购后技术创新并未对治理产能过剩起到中介作用。研究表明,以规模扩张为目的的企业并购只能暂时性地提高产能利用率,但有可能将企业再次拉回低端生产链,建议企业应借助并购,发挥自身优势,培育自主创新能力,从本质上优化新能源行业的产能供给质量。
The new energy industry in China is characterized by the coexistence of low-end capacity oversupply and high-end insufficient supply.In order to optimize industrial structure,reduce excess capacity,and cultivate independent innovation ability,business Mergers and Acquisitions have been proposed and promoted in the new energy industry.The paper finds that Chinese new energy industry has been in moderate excess capacity since 2010.M&A can highly improve enterprise capacity utilization.When the enterprise technology innovation of intermediary variable is introduced,we find that technology innovation did not play a mediating role in M&A to?ease excess capacity.This paper argues that M&A for the purpose of expansion can only improve capacity utilization temporarily,But the enterprises are likely be pulled back to the low-end production chain again.Enterprises should solve the overcapacity essentially through the M&A by exerting their advantages and cultivating independent innovation ability.
作者
张巧良
何珮珺
ZHANG Qiao-liang;HE Pei-jun(School of Economics and Management,Lanzhou University of Techology,Lanzhou 730050,China)
出处
《郑州航空工业管理学院学报》
2018年第2期33-43,共11页
Journal of Zhengzhou University of Aeronautics
关键词
新能源行业
企业并购
技术创新
产能过剩
new energy industry
Mergers and Acquisitions
technology innovation
overcapacity mitigation
