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  • December 2014 (Revised November 2015)
  • Case
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Alibaba Goes Public (A)

By: Krishna Palepu, Suraj Srinivasan, Charles C.Y. Wang and David Lane
  • Format:Print
  • | Language:English
  • | Pages:25
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Abstract

In 2014 Alibaba debuted on the New York Stock Exchange, creating not only the largest IPO in history but this initial desire to list on the Hong Kong Stock Exchange was denied due to the company's desire to preserve its partner's control over decision rights. Why did Hong Kong deny Alibaba's requests to list dual-class shares or to allow its partners to nominate a majority of the board of directors, and in the process turn away a superstar in Alibaba? Why did American stock markets approve of Alibaba's governance structures, despite the warnings of many governance experts? How can investors ensure that their capital would be deployed effectively by the company's top management?

Keywords

Dual-class Share Structure; Alibaba; IPOs; VIE; Corporate Governance; Financial Services Industry; United States; Hong Kong; China

Citation

Palepu, Krishna, Suraj Srinivasan, Charles C.Y. Wang, and David Lane. "Alibaba Goes Public (A)." Harvard Business School Case 115-029, December 2014. (Revised November 2015.)
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About The Authors

Krishna G. Palepu

Accounting and Management
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Suraj Srinivasan

Accounting and Management
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Charles C.Y. Wang

Accounting and Management
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Related Work

    • November 2015
    • Faculty Research

    Alibaba Goes Public (A)

    By: Krishna Palepu, Suraj Srinivasan and Charles C.Y. Wang
    • December 2014 (Revised November 2015)
    • Faculty Research

    Alibaba Goes Public (A)

    By: Krishna Palepu, Suraj Srinivasan, Charles C.Y. Wang and David Lane
    • February 2016
    • Faculty Research

    Alibaba Goes Public (B)

    By: Krishna Palepu, Suraj Srinivasan, Charles C. Y. Wang and David Lane
Related Work
  • Alibaba Goes Public (A) By: Krishna Palepu, Suraj Srinivasan and Charles C.Y. Wang
  • Alibaba Goes Public (A) By: Krishna Palepu, Suraj Srinivasan, Charles C.Y. Wang and David Lane
  • Alibaba Goes Public (B) By: Krishna Palepu, Suraj Srinivasan, Charles C. Y. Wang and David Lane
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