Corporate merger strategy and competition

The increasing importance of mergers for the growth strategies of corporations, multinational in particular, gives rise to questions about the motives for the choice of such strategy. Traditionally, mergers have been explained by economies of scale, increases in operational effectiveness, beneficial results of internal transactions, and the synergetic effect flowing from complementaiy resources. It seems, however, that the foregoing motives do not fully explain the contemporary wave of mergers. The author attempts at linking the development of merger strategies with a certain chain of interdependent phenomena, for which competition is the propelling force. Further, she analyzes the impact of merger strategies on the market structure and corporate behaviour, and suggests a need to make mergers subject to stricter antitrust scrutiny than currently in force.Digitalizacja i deponowanie archiwalnych zeszytów RPEiS sfinansowane przez MNiSW w ramach realizacji umowy nr 541/P-DUN/201