自从并购活动在各国大规模兴起之后,国内外许多学者根据本国的情况,选取了不同时间阶段和不同规模的样本对并购的股东财富效应进行了实证检验。从第一轮并购浪潮算起,西方经济学家对并购绩效的研究己有很长的历史。至今并购绩效依旧是公司金融领域关注的焦点,相关文献可谓十分丰富。目前,我国企业的并购活动在近十年逐渐兴起,自然对于并购绩效的研究也随着并购事件的增加而 Since M & A activity started in large scale in many countries, many scholars at home and abroad have conducted empirical tests on the shareholder wealth effect of mergers and acquisitions based on their own circumstances, selected samples of different time periods and different scales. Starting from the first round of mergers and acquisitions, western economists have a long history of research on M & A performance. M & A performance so far is still the focus of corporate finance, the literature is very rich. At present, the M & A activities of Chinese enterprises are gradually rising in recent ten years. Naturally, the research on M & A performance also increases with the increase of M & A events