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

Date
2019-01-08
Authors
Shin, Soo Il
Kim, Joo Baek
Hall, Dianne
Lang, Teresa
Contributor
Advisor
Department
Instructor
Depositor
Speaker
Researcher
Consultant
Interviewer
Journal Title
Journal ISSN
Volume Title
Publisher
Volume
Number/Issue
Starting Page
Ending Page
Alternative Title
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.
Description
Keywords
Topics in Organizational Systems and Technology, Organizational Systems and Technology, Blockchain, initial coin offering (ICO), agency theory, signaling theory
Citation
Extent
10 pages
Format
Geographic Location
Time Period
Related To
Proceedings of the 52nd Hawaii International Conference on System Sciences
Rights
Attribution-NonCommercial-NoDerivatives 4.0 International
Rights Holder
Email libraryada-l@lists.hawaii.edu if you need this content in ADA-compliant format.