Matches in SemOpenAlex for { <https://semopenalex.org/work/W4298127204> ?p ?o ?g. }
- W4298127204 endingPage "101661" @default.
- W4298127204 startingPage "101661" @default.
- W4298127204 abstract "An Initial Coin Offering is the Initial Public Offering of the crypto sector. By issuing crypto tokens in exchange for funds, Initial Coin Offering is a popular way to raise capital for products or services typically associated with cryptocurrencies by issuing crypto tokens in exchange for funds. Initial Coin Offering has gained a lot of attention in the past few years; however, its lack of regulation has raised transparency and investor protection concerns from public agencies. This paper examines the role of soft information in third-party expert ratings and how it can mitigate information asymmetry in the financial markets. Expert ratings normally contain two types of information: hard information – a summary of public, numerically-measured information, and soft information – containing expert insights, rumours, and private conversations. Taking advantage of the special dual-rating system of a leading Initial Coin Offering rating platform, we successfully isolate soft information from expert ratings. We find that soft information reduces information asymmetry between issuers and investors, measured by the amount of raised funds in the crowdfunding phase and the underpricing levels in the early transaction phase. We also test the long-term survival rates and market price trends of issued tokens and conclude that soft information also plays a crucial role for investors in predicting the long-term performance of tokens. A heterogeneity analysis further shows that the soft information provided by expert ratings is more influential in countries or regions with low business environment indices." @default.
- W4298127204 created "2022-10-01" @default.
- W4298127204 creator A5013176061 @default.
- W4298127204 creator A5038603448 @default.
- W4298127204 creator A5083455588 @default.
- W4298127204 date "2022-11-01" @default.
- W4298127204 modified "2023-09-25" @default.
- W4298127204 title "Does soft information in expert ratings curb information asymmetry? Evidence from crowdfunding and early transaction phases of Initial Coin offerings" @default.
- W4298127204 cites W1487507643 @default.
- W4298127204 cites W188326880 @default.
- W4298127204 cites W1936066332 @default.
- W4298127204 cites W1969632991 @default.
- W4298127204 cites W1981566670 @default.
- W4298127204 cites W1990807656 @default.
- W4298127204 cites W1992751099 @default.
- W4298127204 cites W1993758346 @default.
- W4298127204 cites W1995044330 @default.
- W4298127204 cites W1999909519 @default.
- W4298127204 cites W2019712056 @default.
- W4298127204 cites W2030962889 @default.
- W4298127204 cites W2034306329 @default.
- W4298127204 cites W2042442456 @default.
- W4298127204 cites W2043384137 @default.
- W4298127204 cites W2053222095 @default.
- W4298127204 cites W2055646506 @default.
- W4298127204 cites W2058576880 @default.
- W4298127204 cites W2059568256 @default.
- W4298127204 cites W2061998345 @default.
- W4298127204 cites W2077624569 @default.
- W4298127204 cites W2078048879 @default.
- W4298127204 cites W2082859257 @default.
- W4298127204 cites W2085831731 @default.
- W4298127204 cites W2087653771 @default.
- W4298127204 cites W2092718852 @default.
- W4298127204 cites W2101756786 @default.
- W4298127204 cites W2136491889 @default.
- W4298127204 cites W2148402268 @default.
- W4298127204 cites W2154860111 @default.
- W4298127204 cites W2215139283 @default.
- W4298127204 cites W2238750598 @default.
- W4298127204 cites W2463511243 @default.
- W4298127204 cites W2524682170 @default.
- W4298127204 cites W2544301183 @default.
- W4298127204 cites W2611785822 @default.
- W4298127204 cites W2762385132 @default.
- W4298127204 cites W2779179684 @default.
- W4298127204 cites W2781004982 @default.
- W4298127204 cites W2794821520 @default.
- W4298127204 cites W2805048107 @default.
- W4298127204 cites W2889777207 @default.
- W4298127204 cites W2897981143 @default.
- W4298127204 cites W2901378492 @default.
- W4298127204 cites W2913415073 @default.
- W4298127204 cites W2932871957 @default.
- W4298127204 cites W2933521055 @default.
- W4298127204 cites W2934912667 @default.
- W4298127204 cites W2939335096 @default.
- W4298127204 cites W2946445857 @default.
- W4298127204 cites W2948873301 @default.
- W4298127204 cites W2955448311 @default.
- W4298127204 cites W2955992016 @default.
- W4298127204 cites W2971151417 @default.
- W4298127204 cites W2980906503 @default.
- W4298127204 cites W2983377839 @default.
- W4298127204 cites W2985545178 @default.
- W4298127204 cites W2986042375 @default.
- W4298127204 cites W2990337830 @default.
- W4298127204 cites W2997460640 @default.
- W4298127204 cites W3003244686 @default.
- W4298127204 cites W3024279752 @default.
- W4298127204 cites W3034039979 @default.
- W4298127204 cites W3044412697 @default.
- W4298127204 cites W3109595280 @default.
- W4298127204 cites W3121632078 @default.
- W4298127204 cites W3121716941 @default.
- W4298127204 cites W3122061554 @default.
- W4298127204 cites W3122333907 @default.
- W4298127204 cites W3122348317 @default.
- W4298127204 cites W3123293316 @default.
- W4298127204 cites W3123300772 @default.
- W4298127204 cites W3123436660 @default.
- W4298127204 cites W3123475113 @default.
- W4298127204 cites W3123523261 @default.
- W4298127204 cites W3123632416 @default.
- W4298127204 cites W3123843583 @default.
- W4298127204 cites W3123912919 @default.
- W4298127204 cites W3124139965 @default.
- W4298127204 cites W3124284538 @default.
- W4298127204 cites W3124450285 @default.
- W4298127204 cites W3124986135 @default.
- W4298127204 cites W3125167298 @default.
- W4298127204 cites W3125381584 @default.
- W4298127204 cites W3125484175 @default.
- W4298127204 cites W3125787118 @default.
- W4298127204 cites W3125956646 @default.
- W4298127204 cites W3126005726 @default.
- W4298127204 cites W3126029451 @default.
- W4298127204 cites W3126550142 @default.