This study examines the naming of international joint ventures (IJVs) as a symbolic strategy to gain legitimacy. Drawing on prior knowledge of organizational names and the processes by which they were chosen, we argue that IJV naming is an exercise of agency to shape audience perceptions. Specifically, we develop hypotheses articulating the internal and external conditions in which IJVs deliberately signal their foreign identity by including the name of a multinational enterprise (MNE) partner to enhance their chances of being perceived as legitimate. In a sample of 380 IJVs in South Korea (2007–2015), we find that the likelihood of MNE name inclusion is higher in greenfield investments (vs. acquisitions) when the MNE has a large global presence and in industries with numerous foreign firms. Under these conditions, a foreign identity is likely to invoke positive evaluations from host country audiences. We also find that political affinity between the MNE’s home and host countries influences the likelihood of MNE name inclusion. Notably, IJVs operating under less favorable conditions for revealing their foreign identity leverage political affinity more frequently to gain legitimacy by including an MNE name. Overall, our results suggest that IJV naming is a deliberate act to achieve favorable classification and evaluation by host country audiences.
