Cross border mergers and acquisitions and global value chains play an extremely important role in the context of today's economic globalization.Based on the data of non-financial enterprises listed on the Shanghai and Shenzhen A-shares from 2010 to 2022,this study uses the double difference method for empirical analysis to explore the impact of cross-border mergers and acquisitions on the upgrading of the value chain of Chinese enterprises.The results show that cross-border mergers and acquisitions can significantly promote the upgrading of the global value chain of enterprises,mainly through alleviating financing constraints and enhancing innovation capabilities.At the same time,for state-owned enterprises and large-scale enterprises in the eastern and western regions,cross-border mergers and acquisitions have a more significant promoting effect on the upgrading of the value chain.
cross border M&Aglobal value chainfinancing constraintsinnovation ability
NETL
NSTL
维普
万方数据
