Abstract: Abstract:Abroad, the event study method has been used extensively in financial and economic research. Based on the external results of event study methodology, this paper discusses the procedures and properties of event study, and compares the external and internal literature using event study methods in financial and economic research. Our results suggest that there exist many choices in event studies, which may influence the reliability of research results, and as regards the literature using event study methods in financial and economic research, some limitations remain in the internal literature, compared to the external literature.