This paper takes Tianqi Lithium Corp's acquisition of SQM as the research subject, conducting a detailed analysis of the motives behind the M&A. Subsequently, financial indicators are.
What is the merger value of lithium battery companies?
Based on the year when the 18 listed companies in the lithium battery industry first implemented M&A during the sample observation period, the merger value is 1 after the year of the first merger, and the merger value is 0 for the subsequent mergers.
What are non-technology-based mergers in the lithium battery industry?
On the one hand, non-technology-based mergers in the lithium battery industry mainly entail vertical mergers. Vertical mergers refer to the acquisition of companies that are upstream or downstream of the acquiring company, with a direct relationship in regard to production processes or business operations.
Why is technological M&A important in the lithium battery industry?
Heterogeneity analysis has revealed that technological M&A crucially facilitates the improvement of technological innovation levels among listed companies in the lithium battery industry.
Does M&A affect the lithium battery industry?
For the existing research on the lithium battery industry M&A, only a limited number of scholars have investigated the characteristics and driving factors of M&A. Monge et al. (2018) considered the M&A of US oil and gas companies in the lithium battery industry.
How does M&A work in the lithium battery industry?
Heterogeneity Analysis When listed companies in the lithium battery industry implement M&A strategies, they can opt for either technical mergers or non-technical M&A. Non-technical M&A mainly extend upstream through vertical M&A to ensure the supply of raw materials and reduce costs.
Are technology M&A a driving factor in the lithium battery industry?
Compared with the estimated results in columns (1) and (2), the core explanatory variables, the estimated coefficient of a merge is smaller, and the statistical significance is significantly reduced, which indicates that technology M&A are the main driving factor for the technological enhancement of listed companies in the lithium battery industry.