I AbstractAcceleratingtrendofeconomicglobalizationtoday,mergersandacquisitionsworldwidehasbeenverycommon,andincreasingthenumberandamount..M&Ahasbecomethedomesticandforeignenterprisesforcapitalexpansion,thepopularmeansofreallocationofresources,theroleofsuchmeanswilldirectthemergerofthemainvalueofthebusiness,andthuswillbereflectedintheshareholderwealth.Inthispaper,empiricalstudyonChina'slistedcompaniessamplecollection,selectarepresentativeofthestrategicandfinancialM&Mtwodifferentcompanies,tocreatemoreofitsvalue.Theresultsshowedthat:thevalueofstrategicM&Acompaniestocreatebetter-financialcorporatemergersandacquisitions,andstrategicM&Ariskthanfinancialtakeovers.Keywords:Mergersandacquisitions;strategicacquisitions;financialacquisitions;Valuecreation