Do All Networks Facilitate International Commerce? Us Law Firms and the International Market for Corporate Control

29 Pages Posted: 4 May 2003 Last revised: 27 Oct 2004

See all articles by Simon J. Evenett

Simon J. Evenett

University of Oxford - Said Business School; Centre for Economic Policy Research (CEPR)

Date Written: May 2003

Abstract

This paper estimates the effects of several American law firms' international networks of offices on the total value of overseas mergers and acquisitions (M&A) by US corporations. Nowadays many nations can review proposed mergers and US law firms help clients overcome such regulatory hurdles, effectively greasing the market for corporate control. However, they can also oppose transactions that are inimical to their clients' interests. I present evidence that suggests that Baker & McKenzie the US law firm with the most overseas offices has facilitated such transactions, whereas the combined effect of the next five largest American law firms has tended to reduce such M&A.

Suggested Citation

Evenett, Simon J., Do All Networks Facilitate International Commerce? Us Law Firms and the International Market for Corporate Control (May 2003). NBER Working Paper No. w9663. Available at SSRN: https://ssrn.com/abstract=403540

Simon J. Evenett (Contact Author)

University of Oxford - Said Business School ( email )

Park End Street
Oxford, OX1 1HP
Great Britain
44 1865 288 875 (Phone)
44 1865 288 805 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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