INFLUENCE OF INITIAL COIN OFFERINGS ON TRADITIONAL WAYS OF ATTRACTING FINANCING

ВЛИЯНИЕ ПЕРВИЧНЫХ ПРЕДЛОЖЕНИЙ КРИПТОВАЛЮТ НА ТРАДИЦИОННЫЕ СПОСОБЫ ПРИВЛЕЧЕНИЯ ФИНАНСИРОВАНИЯ

Simonov A. (), Vadim Zyamalov and Sukhobok O. ()
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Simonov A.: The Russian Presidential Academy Of National Economy And Public Administration
Sukhobok O.: The Russian Presidential Academy Of National Economy And Public Administration

Working Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: The cryptocurrency market is currently continuing its growth and development, which is evidenced by the number of new projects on specialized resources, as well as the emergence of new ways of placing projects and raising funds. The aim of the study is to analyze the impact of the emergence of cryptocurrencies on traditional ways of attracting funding. The study is relevant because, as has been repeatedly noted in the existing literature, a significant part of cryptocurrency projects is similar to crowdfunding aimed at raising funds for startups. In this regard, cryptocurrencies can compete with traditional sources of financing, such as venture funding. The authors are not aware of any other work that studies this aspect of cryptocurrencies, which makes this topic relevant in terms of understanding the possibilities of aspiring entrepreneurs to attract initial funding. Using the methods of econometric analysis and data on initial coin offerings, IPOs and deals with venture capital companies, the authors studied the relationship between the emergence of cryptocurrencies and the conditions of traditional methods of raising funds. As a result, it was shown that the growth in the number of ICOs has a positive effect on improving the conditions for providing funds during IPOs and deals with venture capital companies.

Keywords: cryptocurrencies; ICO; IPO; VC (search for similar items in EconPapers)
Pages: 42 Creation Date: 2021-04
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