The liability of foreignness reconsidered: New insights from the alternative research context of transforming economies |
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| Authors: | Harun Emre Yildiz Carl Felix Fey |
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| Institution: | 1. Coventry Business School, Coventry University, CV1 5FB, United Kingdom;2. School of International Business, Southwestern University of Finance and Economics, Chengdu, China;3. Birmingham Business School, University of Birmingham, Birmingham B15 2TY, United Kingdom;4. University of Liverpool Management School, Liverpool L69 7ZX, United Kingdom;5. Anglia Learning and Teaching, Anglia Ruskin University, Cambridge CB1 1DB, United Kingdom |
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| Abstract: | Institutional theory has been increasingly used to decipher implications of the liability of being a foreign firm. Earlier studies have argued that multinational corporations bear social costs arising from lack of legitimacy and thus need to engage in isomorphism to increase their likelihood of survival. Drawing on insights gained from transforming economies, this study reconsiders the espoused relationships among legitimacy, local isomorphism, and overcoming the liability of foreignness. We argue that idiosyncrasies of transforming economies could engender (1) varying levels of need for gaining legitimacy of local constituents and (2) alternative ways other than local isomorphism for gaining legitimacy from local institutional actors. |
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