| Abstract | 第4页 |
| Introduction | 第8-10页 |
| Ⅰ. the luxury world | 第10-44页 |
| Ⅰ.1 Characteristics of the luxury world | 第10-14页 |
| Ⅰ.2 Economics results in larger boundaries | 第14-24页 |
| Ⅰ.3 The key players of luxury sector and their performances | 第24-44页 |
| Ⅱ. M&A deals | 第44-54页 |
| Ⅱ.1 Introduction to M&A | 第44-47页 |
| Ⅱ.2 Why does M&A occur? Synergies | 第47-50页 |
| Ⅱ.4 Private equity funds, it is only a question of a rate of return | 第50-54页 |
| Ⅲ. M&A deals in the luxury world | 第54-74页 |
| Ⅲ.1 A decade of luxury M&A | 第54-57页 |
| Ⅲ.2 Deals involving strategic bidders | 第57-66页 |
| Ⅲ.3 Deals involving financial bidders | 第66-71页 |
| Ⅲ.4 Italy, mainly a pray | 第71-74页 |
| Ⅳ. Does M&A pay? | 第74-110页 |
| Ⅳ.1 Findings about the driver of profitability | 第74-79页 |
| Ⅳ.2 Measurement of profitability | 第79-81页 |
| Ⅳ.3 Event studies application and further researches | 第81-110页 |
| Ⅳ.3.1 Prior researches | 第83-87页 |
| Ⅳ.3.2 Findings coming from actual researches | 第87-110页 |
| Ⅴ. Future trend | 第110-116页 |
| Ⅴ.1 The next "conquerors" | 第110-111页 |
| Ⅴ.2 The future "prays" | 第111-114页 |
| Ⅴ.3 The future role of Italy | 第114-116页 |
| Ⅵ. M&A' effects on consumers | 第116-124页 |
| Ⅵ.1 Luxury prices' increase | 第116-117页 |
| Ⅵ.2 The price effects of horizontal mergers | 第117-118页 |
| Ⅵ.3 The physiological increase of luxury prices | 第118-120页 |
| Ⅵ.4 The luxury goods' economic nature | 第120-124页 |
| Conclusions | 第124-126页 |
| Appendices | 第126-135页 |
| References | 第135-138页 |
