Economic Targets and Motives of Corporate Integration
The article reveals the concept of «merges and acquisitions» from the point of economic theory, defines the purposes of corporate integration, analyzes features of the modern concepts of M&A motivation developed by foreign and domestic researchers, as well as specifies the structure and extends the economic content of synergy effect of M&A transactions. The author offers a new classification of integration synergy types by possible directions of business efficiency rising, systemizes motives of M&A by seven directions of synergy effect generation. In the article for the first time the isolated groups of motives M&A on a functional, marketing, administration, and innovation synergies are analyzed. The author reveals some mechanisms of synergy development, and also specifies its limiting factors.