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.
- Language
-
Englisch
- Bibliographic citation
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2021: Climate Economics
- Classification
-
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
- Subject
-
Analysts
Asymmetric Information
FinTech
Initial Coin Offering (ICO)
- Event
-
Geistige Schöpfung
- (who)
-
Barth, Andreas
Laturnus, Valerie
Mansouri, Sasan
Wagner, Alexander
- Event
-
Veröffentlichung
- (who)
-
ZBW - Leibniz Information Centre for Economics
- (where)
-
Kiel, Hamburg
- (when)
-
2021
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Konferenzbeitrag
Associated
- Barth, Andreas
- Laturnus, Valerie
- Mansouri, Sasan
- Wagner, Alexander
- ZBW - Leibniz Information Centre for Economics
Time of origin
- 2021
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