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Token-based crowdfunding : investor choice and the optimal timing of initial coin offerings

Drobetz, Wolfgang; Hornuf, Lars; Momtaz, Paul P.; … - In: Entrepreneurship theory and practice : ET&P 49 (2025) 1, pp. 232-282

Persistent link: https://www.econbiz.de/10015179726

Ban, Boom, and Echo! Entrepreneurship and Initial Coin Offerings

Bellavitis, Cristiano - 2020

Regulatory spillovers occur when regulation in one country affects either the expected regulatory approach and/or entrepreneurial finance markets in other countries. Drawing on institutional theory, we investigate the global implications of a regulatory spillover on entrepreneurship. We argue...

Persistent link: https://www.econbiz.de/10012833186

STO vs. ICO : a theory of token issues under moral hazard and demand uncertainty

Miglo, Anton - In: Journal of risk and financial management : JRFM 14 (2021) 6, pp. 1-35

incentive problems of professional blockchain participants who contribute to the development and sales of the product. We argue …

Persistent link: https://www.econbiz.de/10012587665

Blockchains and Constitutional Catallaxy

Berg, Alastair - 2020

technology. Blockchain technology aims to coordinate action in a world of incomplete information and opportunism, but the … governance arrangements in blockchain protocols remain far from settled. Drawing upon recent theoretical developments regarding … constitutional change, we interpret changes to the fundamental working rules of blockchain protocols as central to the adaptive …

Persistent link: https://www.econbiz.de/10012850726

Governance of Decentralized Autonomous Organizations

Kondova, Galia - 2020

organization (DAO) governance on a blockchain. It provides an overview of the DAO concept based on self-executing smart contracts … on a blockchain. The blockchain keeps a record of data and transactions in a decentralized and immutable form. The self …-executing smart contracts on a blockchain ensure transparency and automation of the decision-making process in a DAO. The paper …

Persistent link: https://www.econbiz.de/10012840139

Initial Coin Offerings (ICOs) : Economics and Regulation

Klöhn, Lars - 2019

investors and draw a comparison to regulatory activities both in the US and Switzerland …

Persistent link: https://www.econbiz.de/10012897226

De-crypto-ing Signals in Initial Coin Offerings : Evidence of Rational Token Retention

Davydiuk, Tetiana; Gupta, Deeksha; Rosen, Samuel - 2021

Using the market for initial coin offerings (ICOs) as a laboratory, we provide evidence that entrepreneurs use retention to alleviate information asymmetry. The underlying technology and the absence of regulation make the ICO market well suited to study this question empirically. Using a...

Persistent link: https://www.econbiz.de/10013232606

Signaling Quality in Initial Coin Offerings with Funds Regulation

Hu, Yulin; Xue, Weili; Yang, Yi - 2021

In this paper, we study how funds regulation influences a venture’s token issuing strategy, cash diversion behavior and signaling effectiveness, when he has private knowledge on product quality (i.e., high or low). We first analyze this problem under complete information, which extends Gan et...

Persistent link: https://www.econbiz.de/10013213988

Initial Coin Offerings As a Commitment to Competition

Goldstein, Itay - 2020

We show that Initial Coin Offerings (ICOs) can limit rent-seeking activities of large firms with market power while preserving efficiency gains due to network effects. We model ICOs of utility tokens, which can be used to finance development of online platforms where buyers and sellers can meet...

Persistent link: https://www.econbiz.de/10012846853

Extracting informational cues between initial coin offering projects and the public

Shin, Soo Il; Kim, Joo Baek; Hall, Dianne J.; Lang, Teresa - In: Psychology & marketing 41 (2024) 6, pp. 1271-1288

Persistent link: https://www.econbiz.de/10014531213