Cross-border mergers and acquisitions (M&As) have become an important strategy for firms to acquire external knowledge resources and enhance innovation capabilities. Using a sample of Chinese A-share listed firms involved in cross-border M&As from 2010 to 2024, this study employs propensity score matching (PSM) to examine the relationship between cross-border M&As and firm innovation performance, as well as its underlying mechanism. The results show that cross-border M&As significantly improve firm innovation performance, with stronger effects observed among firms located in central and western regions, state-owned enterprises, large firms, and mature firms. Further analysis reveals that R&D intensity partially mediates the relationship between cross-border M&As and innovation performance, suggesting that cross-border M&As promote innovation by enhancing firms’ R&D investment. This study contributes to the literature on cross-border M&As and innovation by providing empirical evidence from an emerging market context and offering insights into how firms leverage internationalization strategies to improve innovation outcomes.

Siqi Hu, Deyi Tai. The Impact of Cross-Border Mergers and Acquisitions on Corporate Innovation Performance: Evidence from Chinese A-Share Listed Firms. Academic Journal of Business & Management (2026), Vol. 8, Issue 8: 101-108. https://doi.org/10.25236/AJBM.2026.080812.

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