This paper provides the first evidence of a moral hazard in signaling in an entrepreneurial
finance context, by examining token offerings or Initial Coin Offerings (ICOs). Entrepreneurs' …

We examine the role of institutional investors in initial coin offerings (ICOs). Taking a financial
investor's perspective, we assess the determinants of post-ICO performance via buy-and-…

Research Summary How emotions impact firm valuation is empirically understudied because
affective traits are difficult to quantify. However, using artificial emotional intelligence, …

The Metaverse refers to a shared vision among technology entrepreneurs of a three-dimensional
virtual world, an embodied internet with humans and the physical world in it. As such, …

This paper examines the performance of cryptocurrencies issued in initial coin offerings (ICOs)
over a three-year period after the initial exchange listing. Average (median) ICO …

Blockchain technology and smart contracts are catalysts for decentralization and disintermediation.
These new technologies reduce transaction costs, agency costs, and offer a basis for …

Token offerings or initial coin offerings (ICOs) are smart contracts based on blockchain
technology designed to raise external finance without an intermediary. The new technology might …

This paper examines the market for initial coin offerings (ICOs). ICOs are smart contracts
based on blockchain technology that are designed for entrepreneurs to raise external finance …

Sustainability orientation has a positive effect on startups' initial valuation and a negative
effect on their post-funding financial performance. All else equal, improving sustainability …

A defining feature of initial coin offerings (ICOs) is that entrepreneurs bear the full marginal
investment cost but profit only partially from the marginal investment payoff. This design may …