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

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dc.contributor.authorShin, Soo Il
dc.contributor.authorKim, Joo Baek
dc.contributor.authorHall, Dianne
dc.contributor.authorLang, Teresa
dc.date.accessioned2019-01-03T00:54:21Z
dc.date.available2019-01-03T00:54:21Z
dc.date.issued2019-01-08
dc.description.abstractSince 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.
dc.format.extent10 pages
dc.identifier.doi10.24251/HICSS.2019.826
dc.identifier.isbn978-0-9981331-2-6
dc.identifier.urihttp://hdl.handle.net/10125/60125
dc.language.isoeng
dc.relation.ispartofProceedings of the 52nd Hawaii International Conference on System Sciences
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectTopics in Organizational Systems and Technology
dc.subjectOrganizational Systems and Technology
dc.subjectBlockchain, initial coin offering (ICO), agency theory, signaling theory
dc.titleWhat Information Propagates among the Public when an Initial Coin Offering (ICO) is Initiated? A theory-driven approach
dc.typeConference Paper
dc.type.dcmiText

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