Initial coin offerings for business: a systematic literature review and bibliometric analysis

Ploypailin Kijkasiwat (), Hamza Almustafa and Pongsutti Phuensane
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Ploypailin Kijkasiwat: The Faculty of Business Administration and Accountancy, Khon Kaen University
Hamza Almustafa: The Hashemite University
Pongsutti Phuensane: The Faculty of Business Administration and Accountancy, Khon Kaen University

SN Business & Economics, 2023, vol. 3, issue 1, 1-31

Abstract: Abstract Startups encounter many barriers in relation to accessing raditional sources of financing. Initial coin offering (ICO) have emerged as an alternative to traditional business financing mechanisms. The purpose of this paper is to provide a synthetized overview of the research on ICO. This paper undertakes a systematic literature review in combination with bibliometric analysis to contribute to this somewhat novel field. Prior research on ICO and digital assets is summarized and pertinent laws and regulations in different countries are reviewed. The article then proposes potential examples of how fractional ownership of digital assets could work and considers the possibility of a digital asset exchange market. The findings provide significant insights into the opportunities and challenges of ICO, as well as the types of ICO and their impacts on startups. Based on this exploratory discussion, this paper raises a number of questions for investigation in future research.

Keywords: Initial coin offering (ICO); Bibliometric analysis; Systematic literature review; Blockchain; Cryptocurrency; Financial perspective (search for similar items in EconPapers)
JEL-codes: E22 G11 M13 O16 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s43546-022-00386-0

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