Short-term market impact of crypto firms’ bankruptcies on cryptocurrency markets

António Miguel Martins

Research in International Business and Finance, 2024, vol. 70, issue PB

Abstract: This paper examines the short-term market reaction of crypto firms’ bankruptcies on cryptocurrency markets. Using an event study for twenty-one crypto firms’ bankruptcies, the results show negative and statistically significant abnormal returns for the sample of cryptocurrency firm’s failures. Despite the existence of heterogeneous impacts surrounding bankruptcy announcements, the results reveal significant higher negative abnormal returns for cryptocurrency firm’s failures associated with high estimated losses and for the subsample of cryptocurrencies with less liquidity.

Keywords: Cryptocurrency; Crypto Firms; Bankruptcy; Market Reaction; Event Study (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0275531924001636
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:70:y:2024:i:pb:s0275531924001636

DOI: 10.1016/j.ribaf.2024.102370

Access Statistics for this article

Research in International Business and Finance is currently edited by T. Lagoarde Segot

More articles in Research in International Business and Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().