The impact of technological similarity on overseas post-M&A innovation performance: based on the dynamic moderating role of resource dependence

Technology-sourcing overseas mergers and acquisitions (M&As) are crucial for firms seeking technological advancement, yet many struggle to integrate acquired technical knowledge effectively. This study examines Chinese firms' technology-sourcing overseas M&As from 2008 to 2018, analysing how technological similarity between the acquirer and the target affects post-M&A innovation. Results disclose an inverted U-shaped relationship: moderate similarity enhances knowledge absorption, integration, and utilisation while reducing conflicts, but excessive similarity creates redundancy that hinders innovation. Asymmetric dependence and joint dependence weaken this effect, though their influence diminishes over time. This study provides evidence-based recommendations for Chinese firms on M&A target selection and post-M&A management.