  With the present paper we conclude the presentation of a semianalytical model
of hierarchical clustering of bound virialized objects formed by gravitational
instability from a random Gaussian field of density fluctuations. In paper I,
we introduced the basic tool, the so-called ``confluent system'' formalism,
able to follow the evolution of bound virialized objects in the peak model.
This was applied to derive the mass function of objects. In the present paper,
we calculate other important quantities characterizing the growth history of
objects. This model is compared with a similar one obtained by Lacey \& Cole
(1993) following the Press \& Schechter (1974) approach. The interest of the
new modeling presented here is twofold: 1) it is formally better justified as
far as peaks are more reasonable seeds of objects than the indetermined regions
in the Press \& Schechter prescription, and 2) it distinguishes between merger
and accretion enabling us to unambiguously define the formation and destruction
of objects and to estimate growth rates and characteristic times not available
in the previous approach.
