Year: 2025
Type: article
Abstract: With the acceleration of global economic integration, China's technology conglomerates have strategically employed capital fission mechanisms to reconfigure resource distribution and business architectures, pursuing a US stock listing has emerged as a pivotal mechanism for these enterprises to access international capital markets. This study conducts a conceptual analysis of capital fission, defined as the non-linear expansion process whereby corporate assets undergo accelerated value multiplication and structural differentiation under optimized market conditions. Through an empirical examination of Alibaba Group's landmark initial public offering (IPO) on the New York Stock Exchange, the research systematically investigates the macroeconomic context, strategic motivations, organizational evolution, and post-listing performance metrics. The findings reveal that capital fission mechanisms empower Chinese technology leaders to achieve three critical objectives: operational efficiency maximization through dynamic resource reallocation; disruptive business model innovation via organizational modularization; competitive positioning enhancement in global value chains. US listings concurrently fulfill multifunctional purposes-expanding weighted average cost of capital advantages through diversified financing instruments, elevating corporate visibility in international investor communities, and institutionalizing governance paradigms aligned with global best practices.
Author: Zhuoran Meng
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4409775773