Cyber risks and initial coin offerings: Evidence from the world

Jiafu AN; Tinghua DUAN; Wenxuan HOU; Xianda LIU

doi:10.1016/j.frl.2020.101858

Cyber risks and initial coin offerings: Evidence from the world

Jiafu AN, Tinghua DUAN, Wenxuan HOU^*, Xianda LIU

^*Corresponding author for this work

Research output: Journal Publications › Journal Article (refereed) › peer-review

3 Citations (Scopus)

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.

Original language	English
Article number	101858
Number of pages	8
Journal	Finance Research Letters
Volume	41
Early online date	24 Nov 2020
DOIs	https://doi.org/10.1016/j.frl.2020.101858
Publication status	Published - Jul 2021
Externally published	Yes

Keywords

cyber risks
ICO
institution quality

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10.1016/j.frl.2020.101858

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title = "Cyber risks and initial coin offerings: Evidence from the world",

abstract = "This paper examines the impact of cyber risks on ventures{\textquoteright} 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.",

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author = "Jiafu AN and Tinghua DUAN and Wenxuan HOU and Xianda LIU",

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AU - AN, Jiafu

AU - DUAN, Tinghua

AU - HOU, Wenxuan

AU - LIU, Xianda

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AB - 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.

KW - cyber risks

KW - ICO

KW - institution quality

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U2 - 10.1016/j.frl.2020.101858

DO - 10.1016/j.frl.2020.101858

M3 - Journal Article (refereed)

AN - SCOPUS:85101055290

SN - 1544-6123

VL - 41

JO - Finance Research Letters

JF - Finance Research Letters

M1 - 101858

ER -

Cyber risks and initial coin offerings: Evidence from the world

Abstract

Keywords

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