Initial coin offerings: what do we know and what are the success factors?
This chapter reviews empirical studies on the characteristics of initial coin offerings (ICO) and determinants of ICO success. This chapter contributes to the literature by providing a discussion on all key elements in a full-cycle ICO and conducts comprehensive literature review of the common pract...
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| Veröffentlicht in: | Cryptofinance and mechanisms of exchange |
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| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
2019
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Tag hinzufügen | Zusammenfassung: | This chapter reviews empirical studies on the characteristics of initial coin offerings (ICO) and determinants of ICO success. This chapter contributes to the literature by providing a discussion on all key elements in a full-cycle ICO and conducts comprehensive literature review of the common practice and key success factors for ICOs. Findings of this chapter provide important managerial and policy implications. Regulators should pay attention to the specific market frictions discussed in this chapter in order to provide a regulation framework that protects investors and promotes the market efficiency. The optimal regulatory framework should address information asymmetry by using disclosure provisions and impose legal obligations on analysts reviewing ICOs and the marketing materials. |
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| ISBN: | 9783030307370 3030307379 |