Abstract
This article reviews the different approaches which have been developed to explain the process of economic centralization and financial group formation. Entrepreneur-based views which explain this phenomenon solely on the basis of entrepreneurial stamma are seen first. Those currents which discuss the issues from the point of view of the firm are examined next, including neoclassical, institutionalist, managerialist and new institutionalist contributions. The third section examines some economic and sociological ideas which focus on a loosely defined concept of groups. Hilferding's theory of finance capital and its subsequent developments is then discussed. The article ends with a discussion of the themes and problems raised by this literature.
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