Do all networks facilitate international commerce? US law firms and the international market for corporate control
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.
|Date of creation:||May 2003|
|Date of revision:|
|Publication status:||published as Evenett, Simon J., 2003. "Do all networks facilitate international commerce? US law firms and the international market for corporate control," Journal of the Japanese and International Economies, Elsevier, vol. 17(4), pages 520-537, December.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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