Merger Movement of the United States(1882-1904); A fundamental process of the modernisation

1987年，我从技术、市场、业务体系和战略四个方面，从整合案例中提炼出四种类型。1988年，我将43家最大的整合公司分为四种类型，并制作了一个关于这些公司信息的一般表格。我研究了导致合并的因素，以及企业结构和所有权变化的过程。此外，我还调查了每个案例中的其他重要项目。我从这次检查中得出了几个结论，但不是最终的。四种类型的整合过程存在较大差异。这一事实显示了美国工业历史上的活力。有几个项目，我可以看出这四种类型之间的区别。然而，合并的结果和合并后的演变是相似的。巨大的资本或商业资源集中在一个企业中，企业的性质从个人财产转变为社会存在。业主经理人消失了，取而代之的是职业经理人。他们形成了中层和高层管理结构。企业战略进入多元化发展阶段，从4位数的行业分类向3位数的行业分类转变。产业结构由垄断型向寡占型转变。在上述变化过程中，出现了一种不同于19世纪的新型企业和产业结构。兼并运动或合并运动在19世纪到20世纪的企业和产业结构创新过程中发挥了重要作用。这一过程在19世纪后期逐渐进行，但巩固运动加速了这一过程，并在一夜之间改变了局面。这些都是发生在几乎所有行业的历史现象。

In 1987, I extracted four types from cases of consolidation in terms of technology, market, business system and strategy. In 1988, I divided 43 largest consolidation firms into four types and made up a general table of the information about these firms. I examined factors which led to consolidation and the process of change in the structure and ownership of business. Moreover, I investigated other important items in each case.I got several conclusions from this examination which are not final. There are great differences in the process to consolidation between four types. This fact shows the dynamism in the American industrial history. There are several items in which I can recognize differences between four types. However, the result of consolidations and the evolution after consolidations are similar to each other. Huge capital or business resources were concentrated in one firm, and the nature of firm changed from individual property to social existence. Owner-managers disappeared and professional managers took their places. They formed structures of middle and top management. The strategy of firms entered the phase of growth by diversification which was not so wide but from 4-digit industrial classification to 3-digit one. The structure of industries changed from monopolistic one to oligopolistic one. In the process of change above mentioned a new type of structure of firm and industry emerged, which differ from the type of 19 century's. Merger movement or consolidation movement played an important role in the process of innovation from 19 century's structure of firm and industry to 20 century's. This process was progressing gradually in late 19 century, but consolidation movement accelerated this process and changed a scene in one night. These things are historical phenomena that happened in almost all industries.