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Pesque-Cela, V, Li, J and Kim, YK (2022) Overcoming the liability of foreignness in US capital markets: the case of Alibaba and Coupang. Asia Pacific Business Review. ISSN 1360-2381
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Abstract
Drawing on signalling theory and using the cases of Alibaba and Coupang, we investigate whether and how venture capital-backed companies from emerging markets use CSR to overcome the liability of foreignness when going public in the US. Our findings suggest that such firms strategically increase their CSR activities prior to their IPO in order to signal legitimacy to investors. They also suggest that firms with both strong and weak CSR signalling strategies (as measured by signal cost, frequency and consistency) are equally likely to have successful IPOs when they are backed by reputable venture capital firms.
| Item Type: | Article |
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| Uncontrolled Keywords: | 1503 Business and Management; Business & Management |
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Business & Management (from Sep 19) |
| Publisher: | Taylor & Francis |
| SWORD Depositor: | A Symplectic |
| Date Deposited: | 04 Nov 2022 12:35 |
| Last Modified: | 21 Mar 2024 00:50 |
| DOI or ID number: | 10.1080/13602381.2022.2121522 |
| URI: | https://researchonline.ljmu.ac.uk/id/eprint/18025 |
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