选取2007—2013年披露并购事件的A股17家石油行业上市公司,根据多元统计分析中的因子分析法,建立基于财务数据反映企业综合得分模型,对这17家上市公司2007—2013年度财务指标进行实证分析。在此基础上,依据并购频率、并购规模、与主营业务相关性等因素对各公司短期和长期并购绩效做出分析与评价。研究发现:通常并购的短期绩效并不理想,但是获得被并购公司100%股权的事件例外;并购的长期绩效依不同的公司和不同的并购事件有较大区别;与主营业务不相关的并购事件绩效不佳。 Based on the factor analysis method of multivariate statistical analysis, the paper chooses the listed companies of A-shares in 2007-2013 to disclose the M & A events and establishes a comprehensive score model based on the financial data to reflect the 2007-2013 financial indicators of these 17 listed companies conduct empirical research. On this basis, the short-term and long-term M & A performance of each company is analyzed and evaluated according to factors such as the frequency of M & A, M & A scale and its relationship with main business. The findings are as follows: the short-term performance of M & A is not ideal, but the exceptions to the 100% ownership of M & A; the long-term performance of M & A differs greatly according to different companies and different M & A events; M & A not related to main business Poor performance of the incident.