本文的目的在檢視跨業多角化經營結合 (conglomerate integration) 的福利效果。我們特別著重聯合生產經濟 (economies of scope) 效果對於社會福利的影響。本文的研究結果顯示：當聯合生產經濟的效果相當大時，對生產者、消費者，以及全體社會而言都有利；聯合生產經濟效果小時，福利效果則受到商品間的替代與互補關係、聯合生產經濟效果與結合前生產成本大小的影響。

The major purpose of this paper is to analyze the welfare effects of conglomerate integration. We especially focus on economies of scope, that will produce welfare effects. The results of this paper indicate the large economies of scope will produce benefits for producers、customers and whole society, the welfare of small economies scope depends on the relation between products (substitues or complements), and efficiency gained from integration.