本文主要针对最近三年的发生并购的公司股票数据进行研究,将并购分为相关业务并购和无关业务收购。结果显示,无论是哪种收购模式,并购都为其带来了显著的财富效应,不同的是相关业务收购在公告日之后的财富效应并没有持续,而无关业务收购的财富效应可以维持4个交易日。 This article focuses on the recent three years of mergers and acquisitions of the company’s stock data to conduct research, the merger is divided into related business mergers and acquisitions and unrelated business acquisitions. The results show that no matter what kind of acquisition model, mergers and acquisitions have brought significant wealth effect, the difference is that the relevant business acquisitions after the announcement of the wealth effect has not continued, while the irrelevant wealth of business acquisitions can maintain 4 Trading day.