Do legal advisors boost M&A performance

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

Finance Research Letters, 2025, vol. 79, issue C

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.

Keywords: M&A; Legal advisor; Reputation; Performance (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:79:y:2025:i:c:s1544612325005835

DOI: 10.1016/j.frl.2025.107320

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