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- Title
THE PERSISTENCE OF THE MERGER MOVEMENT.
- Authors
Thorp, Willard L.
- Abstract
The article presents information on the merger movement which began in connection with a report on recent economic changes, prepared by the National Bureau of Economic Research Inc. The basic data consists of records of virtually every merger or acquisition which has received public notice. Some consolidations may never have been mentioned in the public press or the trade journals. Many acquisitions vary from such a merger only in the fact that some one of the old concerns persists. But there are many cases which appear on the surface to be eligible but which must be excluded. Mergers of subsidiaries are but changes in form. Acquisitions of plants only, or of defunct concerns, are not real consolidations. The purchase of a branch or a subsidiary from some other enterprise does not further the concentration of industry. Concentration of industry will amplify rather than reduce cyclical fluctuations and will increase rather than reduce cyclical unemployment. Such economic and social implications of the modern merger movement are extremely important, for there is every reason to expect the merger movement to go on in increasing proportions in the future.
- Subjects
LABOR union mergers; MERGERS &; acquisitions; CORPORATIONS; NATIONAL Bureau of Economic Research; BUSINESS enterprises; SUBSIDIARY corporations; FACTORIES; EMPLOYMENT
- Publication
American Economic Review, 1931, Vol 21, p77
- ISSN
0002-8282
- Publication type
Article