Cyber risks and initial coin offerings: Evidence from the world

Jiafu An; Tinghua Duan; Wenxuan Hou; Xianda Liu

doi:10.1016/j.frl.2020.101858

Cyber risks and initial coin offerings: Evidence from the world

Jiafu An, Tinghua Duan, Wenxuan Hou, Xianda Liu

Research output: Contribution to journal › Article › peer-review

Abstract / Description of output

This paper examines the impact of cyber risks on ventures’ initial coin offerings (ICOs) results. We match novel data on national cyber-security with hand collected characteristics of 1,654 ICO projects and discover that cyber risks are negatively associated ICO success. We further find that institutional quality, such as the protection of investor rights and the function of the legal system, attenuates this relationship.

Original language	English
Journal	Finance Research Letters
Early online date	24 Nov 2020
DOIs	https://doi.org/10.1016/j.frl.2020.101858
Publication status	E-pub ahead of print - 24 Nov 2020

Keywords / Materials (for Non-textual outputs)

ICO
cyber risks
institution company

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10.1016/j.frl.2020.101858

AnEtalFRL2020CyberRisksAndInitialcoinAccepted author manuscript, 1.21 MBLicence: Creative Commons: Attribution-NonCommercial-NoDerivatives (CC BY-NC-ND)

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title = "Cyber risks and initial coin offerings: Evidence from the world",

abstract = "This paper examines the impact of cyber risks on ventures{\textquoteright} initial coin offerings (ICOs) results. We match novel data on national cyber-security with hand collected characteristics of 1,654 ICO projects and discover that cyber risks are negatively associated ICO success. We further find that institutional quality, such as the protection of investor rights and the function of the legal system, attenuates this relationship.",

keywords = "ICO, cyber risks, institution company",

author = "Jiafu An and Tinghua Duan and Wenxuan Hou and Xianda Liu",

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AU - An, Jiafu

AU - Duan, Tinghua

AU - Hou, Wenxuan

AU - Liu, Xianda

PY - 2020/11/24

Y1 - 2020/11/24

N2 - This paper examines the impact of cyber risks on ventures’ initial coin offerings (ICOs) results. We match novel data on national cyber-security with hand collected characteristics of 1,654 ICO projects and discover that cyber risks are negatively associated ICO success. We further find that institutional quality, such as the protection of investor rights and the function of the legal system, attenuates this relationship.

AB - This paper examines the impact of cyber risks on ventures’ initial coin offerings (ICOs) results. We match novel data on national cyber-security with hand collected characteristics of 1,654 ICO projects and discover that cyber risks are negatively associated ICO success. We further find that institutional quality, such as the protection of investor rights and the function of the legal system, attenuates this relationship.

KW - ICO

KW - cyber risks

KW - institution company

UR - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3604158

U2 - 10.1016/j.frl.2020.101858

DO - 10.1016/j.frl.2020.101858

M3 - Article

SN - 1544-6123

JO - Finance Research Letters

JF - Finance Research Letters

ER -

Cyber risks and initial coin offerings: Evidence from the world

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Keywords / Materials (for Non-textual outputs)

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