PURPOSE: The reaction between diphenyl iodide or bromide, carbon monoxide and an alcohol is carried out in the presence of a specific catalyst to produce the titled compound which is used as a raw material for fiber and resin of high heat resistance and high strength.

CONSTITUTION: An iodided diphenyl such as 4-iododiphenyl or bromide diphenyl such as 4-bromodiphenyl are allowed to react with carbon monoxide and an alcohol such as methanol or benzyl alcohol in the presence of a base or a transition metal compound such as Pd, Ni, or Co compounds to give diphenylcarboxylic acid ester. The reaction pressure is preferably 1W100kg/cm2G. The reaction temperature is 50°C or higher, preferably 100W200°C.

EFFECT: The starting materials are readily available and inexpensive, while the product is high in industrial value.