文档介绍：一年到并购后第四年的六年财务指标数据进行计算,通过建立财务指标体系发现,并购事件对收购公司的长期经营绩效有正的绩效,但是影响不显著;在模型建立的基础上,通过并购类型、支付方式、不同控制权和关联性四个方面进行影响因素的分析,得到:短期内横向并购和混合并购更易给上市公司带来正的累积超额收益率,长期内纵向并购和混合并购利于上市公司的经营绩效增长;股票支付是上市公司的最佳选择;取得控制权对于上市公司改善自身的短期超额收益是有帮助的,未取得控制权有利于长期经营绩效;非关联并购效果要好于关联并购。为了提高公司并购绩效,笔者在论文的第三章提出了如‘F 对策建议:一是通过完善市场环境与制度环境、规范并购交易过程中的政府行为、明确信息技术业并购的产业导向和政策三个方面,从而建立有效的并购市场环境;二是通过并购各方转变观念提高自身决策水平、选择合适的并购类型和支付方式、积极推进并购整合过程来加强并购主体战略。关键词上市公司,信息技术业,并购绩效 ABSTRACT In themodem market economy,more and panies to expand and improved themselves through various channels in petition mechanism ofsurvival theformation of capital markets,merger and acquisition(M&A)has e the mainstream approach to expansion capital,optimal allocation of resources,enhance the petitiveness which is amore suitable way tolong—termstrategic many industries,the development of science and technology gave birth to the riseoftheinformation technology industry,which isthefutureindustry , tosome extent,the study oftheperformance ofM&A inInformation Technology Industry related to the sustainable development of pany itselfand themarket ,in thisthesis,the author studied theperformance ofM&A of China’S information technology industry in2006 and analyzed itsinfluencing factors as well as put forward some constructive suggestions,where thetwo research methods ofthe event study and thefinancial indicators were used. The paper isdivided thepreface,the background oftheperformance ofM&A,the status ofthemain research contents and themethods athome and abroad were thefirstchapter,the author outlines thetheory ofmergers and acquisitions including themain modes andtypes;then details thefourtheories related toM&A,namely, efficiency theory,agency theory,arrogance and falsehypotheses pricing theory;finally summarized fivemethods of the performance ofM&A including an average sharepriceanalysis,eventstudy,financial indicators study,Tobin’SQ value method and case stud