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Do legal advisors boost M&A performance

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Listed:
  • Qi, Meng
  • Wu, Wei
  • Yan, Yue
  • Wu, Shuying
  • Ji, Zheng

Abstract

In this study, we investigate whether legal advisors really have a significant impact on M&A performance based on evidence from China. Taking a sample consisting of M&A deals from 2015 to 2022, we show a strong positive relationship between prestigious legal advisors and M&A performance, both short-term and long-term. Moreover, we show this relationship is more pronounced when acquirers and targets are not located in the same provinces. Our study contributes to the M&A literature by shedding light on the role of legal advisors in the M&A process.

Suggested Citation

  • Qi, Meng & Wu, Wei & Yan, Yue & Wu, Shuying & Ji, Zheng, 2025. "Do legal advisors boost M&A performance," Finance Research Letters, Elsevier, vol. 79(C).
    • Handle: RePEc:eee:finlet:v:79:y:2025:i:c:s1544612325005835
    DOI: 10.1016/j.frl.2025.107320
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    References listed on IDEAS

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