关键词: 产业集聚, 技术并购, 知识溢出效应, 制度环境

Abstract: This paper considers technological acquisition as a microprocess of knowledge spillover and examines whether specialization agglomeration or diversification agglomeration plays a dominant role in technological acquisition decisions and its influence mechanismBased on the data of technological aquisition of Chinese Ashare manufacturing listed companies in 20072017，it is found that specialization agglomeration significantly promotes technological acquisition through knowledge competition effect and information network effect，but diversification agglomeration has no significant effect on technological acquisition decisionsThis means that specialization agglomeration has a significant knowledge spillover effect  while diversification agglomeration has no similar effect Further analysis reveals that the institutional environment is an important influence mechanism that determines whether the knowledge spillover effect of specialization agglomeration can play out，as shown by the fact that the knowledge spillover effect of specialization agglomeration is more significant in regions with higher levels of private enterprises，social trust and marketizationThe findings of this paper deepen our knowledge and understanding of the knowledge spillover effect of industrial agglomeration，enrich the relevant research on technological acquisition decisions，and have important policy implications for promoting coordinated regional development and building technological innovation systems

Key words: industrial agglomeration, technological acquisition, knowledge spillover effect, institutional environment