Do phenols form esters?

Like other alcohols phenol can form esters, but it doesn't react directly with carboxylic acids. Phenol can only form an ester if it is reacted with an acid anhydride or an acyl chloride.

Why phenol does not show esterification reaction?

Phenol can form esters, like other alcohols, but it does not react directly with carboxylic acids. Phenol can only form an ester if an acid anhydride or acyl chloride is used to react with it. By efficient delocalization of the negative charge, the carboxylate ion generated is stabilised by resonance.