In recent years, cross-border M & As, especially the cross-border M & As quantity and amount of Chinese firms, are growing rapidly, but the academia still has a vague impression of the outcomes of cross-border M & As, and even has not reached a consensus on how to definitely understand the concept of the outcomes of cross-border M & As. So the academia and practice circle eager to sort out systematically the studies on cross-border M & As about how to understand the outcomes of cross-border M & As, as well as whether and how cross-border M & As affect corporate value. Based on literature metrology analysis, this paper systematically reviews the theoretical and empirical research of cross-border M & As, sorts out the content, classification and measurement of the outcomes of cross-border M & As, and elaborates the influencing factors and function mechanisms of the outcomes of cross-border M & As in detail. Then it provides a systematic theoretical framework of the outcomes of cross-border M & As and influencing factors.