TY  - JOUR
AU  - Evenett,Simon J.
TI  - Do all networks facilitate international commerce? US law firms and the international market for corporate control
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 9663
PY  - 2003
Y2  - May 2003
UR  - http://www.nber.org/papers/w9663
L1  - http://www.nber.org/papers/w9663.pdf
N1  - Author contact info:
Simon Evenett
World Trade Institute
Hallerstrasse 6
3012 Berne Switzerland
Tel: 41-31-631-3861
Fax: 41-31-631-3630
E-Mail: simon.evenett@worldtradeinstitute.ch
AB  - 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.
ER  -