In April I ran a piece about an academic study that examined tax appeal cases to see whether the outcomes bore any relation to the Chambers & Partners rankings of the lawyers involved.
The author found no direct link, although said that rankings might matter for other things.
However, another study arrives at a different conclusion.
The academic paper, published in 2012, reveals that law firms which perform well in the M&A and IPO deal adviser tables add greater shareholder value for their clients, and that higher ranked firms and lawyers usually attract the more complex matters.
C.N.V. Krishnan of the Weatherhead School of Management at Case Western Reserve University in Cleveland, Ohio, and Ronald Masulis from the Australian School of Business at the University of New South Wales, authored the report.
Click here to see the first paper: Law Firm Expertise and Merger and Acquisition Outcomes.
And here for the second: Law Firm Prestige as a Signal of Value for Initial Public Offerings.
(Pictured: the Peter B. Lewis Building, the Frank Gehry-designed home of the Weatherhead School of Management at Case Western Reserve University in Cleveland, Ohio)