Artikel

Signalling in Initial Coin Offerings: The Key Role of Entrepreneurs’ Self‐efficacy and Media Presence

By analyzing data of more than 1,000 initial coin offerings (ICOs) obtained from seven different ICO information platforms, we investigate the effectiveness of signals used by entrepreneurs to foster ICO funding success. In particular, we examine the effectiveness of venture quality (human capital), level of uncertainty (entrepreneurs’ self-efficacy and ambiguity reduction), and level of familiarity among potential investors (media presence). Results imply that media presence and entrepreneurs’ self-efficacy are effective signals in the ICO market and thus can increase funding success. Project initiators who communicate (more actively) via social media collect more funds than those who do not. Analogously, entrepreneurs appearing self-efficacious with regard to the quality of their venture receive more funds.

Sprache
Englisch

Erschienen in
Journal: Abacus ; ISSN: 1467-6281 ; Volume: 58 ; Year: 2022 ; Issue: 1 ; Pages: 24-61 ; Melbourne: John Wiley & Sons Australia, Ltd

Klassifikation
Wirtschaft
Thema
Crowdsale
Cryptocurrency
Initial coin offering
Signalling
Token sale

Ereignis
Geistige Schöpfung
(wer)
Czaja, Daniel
Röder, Florian
Ereignis
Veröffentlichung
(wer)
John Wiley & Sons Australia, Ltd
(wo)
Melbourne
(wann)
2022

DOI
doi:10.1111/abac.12223
Handle
Letzte Aktualisierung
10.03.2025, 11:41 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

  • Artikel

Beteiligte

  • Czaja, Daniel
  • Röder, Florian
  • John Wiley & Sons Australia, Ltd

Entstanden

  • 2022

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