Elite Law Firm Mergers and Reputational Competition: Is Bigger Really Better? An International Co
Although rapid law firm growth has persisted since the 1980s, the acceleration of this trend over the last decade by means of mergers is puzzling. Why would normally conservative law firms embark on a merger strategy that appears to encompass significant risk and uncertain benefits? Is this trend a peculiarly U.S. phenomenon? Most of the popular explanations for law firm mergers focus on a single factor: Law firms everywhere cite strikingly similar reasons based on a presum