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

dc.contributor.author Shin, Soo Il
dc.contributor.author Kim, Joo Baek
dc.contributor.author Hall, Dianne
dc.contributor.author Lang, Teresa
dc.date.accessioned 2019-01-03T00:54:21Z
dc.date.available 2019-01-03T00:54:21Z
dc.date.issued 2019-01-08
dc.description.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.
dc.format.extent 10 pages
dc.identifier.doi 10.24251/HICSS.2019.826
dc.identifier.isbn 978-0-9981331-2-6
dc.identifier.uri http://hdl.handle.net/10125/60125
dc.language.iso eng
dc.relation.ispartof Proceedings of the 52nd Hawaii International Conference on System Sciences
dc.rights Attribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject Topics in Organizational Systems and Technology
dc.subject Organizational Systems and Technology
dc.subject Blockchain, initial coin offering (ICO), agency theory, signaling theory
dc.title What Information Propagates among the Public when an Initial Coin Offering (ICO) is Initiated? A theory-driven approach
dc.type Conference Paper
dc.type.dcmi Text
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