Please use this identifier to cite or link to this item: http://hdl.handle.net/10125/60125

What Information Propagates among the Public when an Initial Coin Offering (ICO) is Initiated? A theory-driven approach

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Title:What Information Propagates among the Public when an Initial Coin Offering (ICO) is Initiated? A theory-driven approach
Authors:Shin, Soo Il
Kim, Joo Baek
Hall, Dianne
Lang, Teresa
Keywords:Topics in Organizational Systems and Technology
Organizational Systems and Technology
Blockchain, initial coin offering (ICO), agency theory, signaling theory
Date Issued:08 Jan 2019
Abstract:Since the popularity of blockchain-based cryptocurrency investments has increased among the public, people have directly purchased cryptocurrency through the cryptocurrency market or joined initial coin offering (ICO) projects. This research explores what informational cues are captured before, during, and after ICO projects that can be considered as signals and a fulfillment of information asymmetry. We adopted two theoretical underpinnings to achieve our research goal - agency and signaling theory. Using information from Twitter, we selected the best-performing ICO project based on the highest return on investment (ROI). Then, we extracted 5,085 tweets related to the selected ICO project. Tweets are categorized by pre-ICO, during and post-ICO, by topic, and dispersion. Analyzing the tweets, we found multiple categories of informational cues for each ICO project. Implications and limitations are discussed.
Pages/Duration:10 pages
URI:http://hdl.handle.net/10125/60125
ISBN:978-0-9981331-2-6
DOI:10.24251/HICSS.2019.826
Rights:Attribution-NonCommercial-NoDerivatives 4.0 International
https://creativecommons.org/licenses/by-nc-nd/4.0/
Appears in Collections: Topics in Organizational Systems and Technology


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