Hackober, Christian ; Bock, Carolin (2024)
Which investors’ characteristics are beneficial for initial coin offerings? Evidence from blockchain technology-based firms.
In: Journal of Business Economics = Zeitschrift für Betriebswirtschaft, 2021, 91 (8)
doi: 10.26083/tuprints-00023496
Artikel, Zweitveröffentlichung, Verlagsversion
 | Es ist eine neuere Version dieses Eintrags verfügbar. |
Kurzbeschreibung (Abstract)
Initial coin offerings have recently become one of the most important funding resources for ventures in the blockchain area. However, often ventures do not rely solely on initial coin offerings as funding source but receive also investments from more established investors prior or during their initial coin offering. In particular, blockchain related ventures have drawn the attention of (corporate) venture capitalists but only less is known on the interplay of these different funding sources and their influence on initial coin offerings as well as on ventures’ further development. Based on the signaling theory as well as the resource-based-view our empirical study find that venture capital investors as well as corporate venture capital investors have a significantly positive effect on initial coin offerings. Further, we find that the reputation, the time of treatment as well as the specialization of investors have a positive influence on the initial coin offering. Finally, our results indicate that the positive effect of venture capital investors as well as the specialization of an investor continues to influence blockchain based ventures’ success in the mid-term.
| Typ des Eintrags: | Artikel |
|---|---|
| Erschienen: | 2024 |
| Autor(en): | Hackober, Christian ; Bock, Carolin |
| Art des Eintrags: | Zweitveröffentlichung |
| Titel: | Which investors’ characteristics are beneficial for initial coin offerings? Evidence from blockchain technology-based firms |
| Sprache: | Englisch |
| Publikationsjahr: | 26 März 2024 |
| Ort: | Darmstadt |
| Publikationsdatum der Erstveröffentlichung: | Oktober 2021 |
| Ort der Erstveröffentlichung: | Berlin ; Heidelberg |
| Verlag: | Springer |
| Titel der Zeitschrift, Zeitung oder Schriftenreihe: | Journal of Business Economics = Zeitschrift für Betriebswirtschaft |
| Jahrgang/Volume einer Zeitschrift: | 91 |
| (Heft-)Nummer: | 8 |
| DOI: | 10.26083/tuprints-00023496 |
| URL / URN: | https://tuprints.ulb.tu-darmstadt.de/23496 |
| Zugehörige Links: | |
| Herkunft: | Zweitveröffentlichung DeepGreen |
| Kurzbeschreibung (Abstract): | Initial coin offerings have recently become one of the most important funding resources for ventures in the blockchain area. However, often ventures do not rely solely on initial coin offerings as funding source but receive also investments from more established investors prior or during their initial coin offering. In particular, blockchain related ventures have drawn the attention of (corporate) venture capitalists but only less is known on the interplay of these different funding sources and their influence on initial coin offerings as well as on ventures’ further development. Based on the signaling theory as well as the resource-based-view our empirical study find that venture capital investors as well as corporate venture capital investors have a significantly positive effect on initial coin offerings. Further, we find that the reputation, the time of treatment as well as the specialization of investors have a positive influence on the initial coin offering. Finally, our results indicate that the positive effect of venture capital investors as well as the specialization of an investor continues to influence blockchain based ventures’ success in the mid-term. |
| Freie Schlagworte: | Blockchain, ICO, Venture capital, Corporate venture capital, Cryptocurrency, Distributed ledger, Digital tokens |
| Status: | Verlagsversion |
| URN: | urn:nbn:de:tuda-tuprints-234966 |
| Zusätzliche Informationen: | JEL Classifcation: G10 • G20 • G24 • G32 • D82 • L26 • O30 |
| Sachgruppe der Dewey Dezimalklassifikatin (DDC): | 300 Sozialwissenschaften > 330 Wirtschaft 600 Technik, Medizin, angewandte Wissenschaften > 650 Management |
| Fachbereich(e)/-gebiet(e): | 01 Fachbereich Rechts- und Wirtschaftswissenschaften 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Betriebswirtschaftliche Fachgebiete 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Betriebswirtschaftliche Fachgebiete > Fachgebiet Entrepreneurship |
| Hinterlegungsdatum: | 26 Mär 2024 14:14 |
| Letzte Änderung: | 15 Apr 2024 09:29 |
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| Suche nach Titel in: | TUfind oder in Google |
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- Which investors’ characteristics are beneficial for initial coin offerings? Evidence from blockchain technology-based firms. (deposited 26 Mär 2024 14:14) [Gegenwärtig angezeigt]
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