Cyber risks and initial coin offerings: Evidence from the world

Jiafu An, Tinghua Duan, Wenxuan Hou and Xianda Liu

Finance Research Letters, 2021, vol. 41, issue C

Abstract: This paper examines the impact of cyber risks on ventures’ initial coin offerings (ICOs) results. We match novel data on national cybersecurity 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 quality (search for similar items in EconPapers)
JEL-codes: F0 G30 G32 G38 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:41:y:2021:i:c:s154461232031672x

DOI: 10.1016/j.frl.2020.101858

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