Loading...
Please wait, while we are loading the content...
Similar Documents
ICO vs. Equity Financing Under Imperfect, Complex and Asymmetric Information
| Content Provider | Scilit |
|---|---|
| Author | Miglo, Anton |
| Copyright Year | 2020 |
| Description | Journal: SSRN Electronic Journal This paper offers a model of a firm that raises funds for financing an innovative business project and choses between ICO (initial coin offering) and equity financing. The model is based on information problems associated with both ICO and equity financing well documented in literature. The model provides several implications that have not yet been tested. For example we find that the message complexity can be benefitial for firms conducting ICOs. Also high-quality projects can use ICO as a signal of quality. Thirdly the average size of projects undertaking equity financing is larger than that of firms conducting ICO. |
| Related Links | https://mpra.ub.uni-muenchen.de/99598/1/MPRA_paper_99598.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3539017 |
| ISSN | 10914358 |
| e-ISSN | 15565068 |
| DOI | 10.2139/ssrn.3539017 |
| Journal | SSRN Electronic Journal |
| Language | English |
| Publisher | Elsevier BV |
| Publisher Date | 2020-02-16 |
| Access Restriction | Open |
| Subject Keyword | Journal: SSRN Electronic Journal Applied Ethics Asymmetric Information Complex Information Initial Coin Offering (ico) Equity Financing |
| Content Type | Text |
| Resource Type | Article |
| Subject | Public Health, Environmental and Occupational Health Psychiatry and Mental Health |