The quest for ICO
Identifying and prioritising the factors influencing initial coin offering selection
Bibliographic Data
| ID | 4388657 |
|---|---|
| Authors | Sangeeta Wat (0000-0002-0883-4785, School of Business Management, Narsee Monjee Institute of Management Studies (NMIMS University) Mumbai India), Simarjeet Singh (0000-0003-3497-2177, Great Lakes Institute of Management Gurgaon India), Sanjay Gupta (0000-0002-6590-5025, Sri Aurobindo College of Commerce and Management Ludhiana, Panjab University Chandigarh India, corresponding author) |
| Year | 2023 |
| Volume | 73 |
| Issue | 250 |
| Pages | 1035-1055 |
| Publication date | 2023-12-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Social Science Journal (JOURNAL) |
| Journal identifiers | ISSN: 0020-8701 • E-ISSN: 1468-2451 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/issj.12427 |
| OpenAlex | W4366772395 |
| Language | EN |
| References cited | 82 |
Initial coin offerings (ICOs) have emerged as a niche source of entrepreneurial financing and a novel investment option that has appealed to investors. The present study aims to identify and prioritise factors that attract investors in the ICO selection process, thus providing valuable insights in improving their decision-making process. To examine this objective, data were collected from respondents of four continents who had invested in ICO. The fuzzy analytical hierarchy process was applied to prioritise the factors inducing the decision-making process of the respondents. Ideological factors, white paper, return expectations and behavioural factors emerged as the top four factors, respectively, that influenced the selection process. In contrast, technological factors appeared to be the least significant factor driving the selection process. This is the first kind of research that deals with the identification and prioritisation of factors and sub-factors regarding the ICO selection decision-making. The study will be of huge relevance to investors as it will offer them better clarity regarding the spectrum of factors and sub-factors that impact their ICO selection process and simultaneously extend guidelines that will help them invest more rationally and strategically. The study will also ensure that issuers devise and design their ICO effectively to draw investors eventually leading to its success. Consequently, the study will serve the policymakers to establish a framework to enhance investors' protection from any unscrupulous practices
Business · CLARITY · Decision-making · Identification (biology) · Investment (military) · Political science · Politics · Process (computing) · Purchasing · Relevance (law) · Risk analysis (engineering) · Selection (genetic algorithm) · Computer Science · Corporate Finance and Governance · Financial Markets and Investment Strategies · Market Dynamics and Volatility · Marketing
Behavioral Economics
A model of investor sentiment1We are grateful to the NSF for financial support, and to Oliver Blanchard, Alon Brav, John Campbell (a referee), John Cochrane, Edward Glaeser, J.B. Heaton, Danny Kahneman, David Laibson, Owen Lamont, Drazen Prelec, Jay Ritter (a referee), Ken Singleton, Dick Thaler, an anonymous referee, and the editor, Bill Schwert, for comments.1
Fuzzy hierarchical analysis
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| Citation velocity | historical |
|---|---|
| Highly cited | No |