TY - JOUR
T1 - Capital market liability of foreignness of IPO firms
AU - Tupper, Christina H
AU - Guldiken, Orhun
AU - Benischke, Mirko
PY - 2018/6/1
Y1 - 2018/6/1
N2 - This study contributes to the capital market liability of foreignness (CMLOF) literature. Utilizing the context of foreign IPO firms, we investigate how long CMLOF lasts, if CMLOF turns into capital market advantage of foreignness (CMAOF) over time, if the global financial crisis influences CMLOF, and how some firms mitigate CMLOF after IPO. Utilizing an explanatory sequential mixed methods design, we quantitatively analyze 549 foreign IPO firms and qualitatively analyze 1233 units of data and show quantitatively that CMLOF does diminish after one year and turns into CMAOF after 3 years for IPO firms and qualitatively reveal strategies to mitigate CMLOF.
AB - This study contributes to the capital market liability of foreignness (CMLOF) literature. Utilizing the context of foreign IPO firms, we investigate how long CMLOF lasts, if CMLOF turns into capital market advantage of foreignness (CMAOF) over time, if the global financial crisis influences CMLOF, and how some firms mitigate CMLOF after IPO. Utilizing an explanatory sequential mixed methods design, we quantitatively analyze 549 foreign IPO firms and qualitatively analyze 1233 units of data and show quantitatively that CMLOF does diminish after one year and turns into CMAOF after 3 years for IPO firms and qualitatively reveal strategies to mitigate CMLOF.
KW - Advantage of foreignness
KW - Capital markets
KW - Foreign initial public offerings
KW - Global financial crisis of 2008
KW - Liability of foreignness
UR - https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85043328387&origin=inward
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U2 - 10.1016/j.jwb.2018.03.001
DO - 10.1016/j.jwb.2018.03.001
M3 - Article
SN - 1090-9516
VL - 53
SP - 555
EP - 567
JO - Journal of World Business
JF - Journal of World Business
IS - 4
ER -