近年来,国内外资本市场频繁曝光出上市公司的财务事件,不仅引起上市公司本身的股价变动,同样引起行业内其他上市公司股价的非正常波动。这种现象不仅威胁着投资者的利益,而且阻碍了资本市场的健康发展。本文探讨市场化进程及资本结构对财务事件信息效应的影响。该研究不仅为投资者提供一个进行投资选择的依据;而且为企业提供一种抵御传染效应并获得竞争效应的经营策略。 In recent years, domestic and foreign capital markets have frequently exposed the financial events of listed companies, which not only caused the price changes of listed companies themselves, but also caused the abnormal fluctuations of other listed companies in the industry. This phenomenon not only threatens the interests of investors, but also hinders the healthy development of the capital market. This article explores the impact of marketization and capital structure on the effects of financial event information. The study not only provides investors with a basis for making investment choices, but also provides enterprises with a business strategy to resist the contagion effect and obtain competitive effects.