Abstract: It is indicated in the research, by taking as sample the M&A transaction events in A-share listed companies from 2010 to 2012, on the influence of M&A financing method on M&A performance that the performance, relative to other financing method, of those companies with equity financing method after M&A turns obviously higher, and state-owned enterprises make the positive influence of equity financing method on M&A performance due to the implicit support from governments while the M&A performance of those non state-owned enterprises with equity financing method are not obviously higher. And the advantages, with the regional financing development, tend to decrease that are brought by state-owned enterprises with equity financing method. It is concluded that the M&A with equity financing method is more effective to enhance the M&A performance but it will be influenced by the company ownership and the local environment of financing development.