Do legal advisors boost M&A performance

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-04-04 DOI:10.1016/j.frl.2025.107320

Meng Qi , Wei Wu , Yue Yan , Shuying Wu , Zheng Ji

引用次数: 0

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.

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法律顾问能提高并购绩效吗

在本研究中，我们基于来自中国的证据来调查法律顾问是否真的对并购绩效有显著影响。以2015年至2022年的并购交易为样本，我们发现知名法律顾问与并购业绩之间存在很强的正相关关系，无论是短期还是长期。此外，我们表明，当收购者和目标不在同一省份时，这种关系更为明显。我们的研究通过阐明法律顾问在并购过程中的作用，为并购文献做出了贡献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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