Konferenzbeitrag

ICO analysts

Freelancing human experts play an important role in Initial Coin Offerings (ICOs). Expert ratings partially reflect the reciprocal network of ICO members and analysts. Ratings predict ICO success, but highly imperfectly so. Favorably rated ICOs tend to fail when more ratings reciprocate prior ratings. Failure despite strong ratings is also frequent when analysts have a history of optimism, and when reviews strike a particulary positive tone. These findings help illuminate the workings of ICOs for funding new ventures, and the rich data and the specific institutional setup also yield insights pertinent to the literature on equity analysts and rating agencies.

Sprache
Englisch

Erschienen in
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2021: Climate Economics

Klassifikation
Wirtschaft
Information and Market Efficiency; Event Studies; Insider Trading
Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies
Entrepreneurship
Asymmetric and Private Information; Mechanism Design
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Thema
Analysts
Asymmetric Information
FinTech
Initial Coin Offering (ICO)

Ereignis
Geistige Schöpfung
(wer)
Barth, Andreas
Laturnus, Valerie
Mansouri, Sasan
Wagner, Alexander
Ereignis
Veröffentlichung
(wer)
ZBW - Leibniz Information Centre for Economics
(wo)
Kiel, Hamburg
(wann)
2021

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Konferenzbeitrag

Beteiligte

  • Barth, Andreas
  • Laturnus, Valerie
  • Mansouri, Sasan
  • Wagner, Alexander
  • ZBW - Leibniz Information Centre for Economics

Entstanden

  • 2021

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