| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16200 |
| DP16200 ICO Analysts | |
| Andreas Barth; Valerie Laturnus; Sasan Mansouri; Alexander F. Wagner | |
| 发表日期 | 2021-05-28 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Initial Coin Offerings (ICOs) provide a clean opportunity and rich data to study the contribution of analysts to the functioning of capital markets. The assessments of freelancing ICO analysts vary in quality and exhibit biases due to the reciprocal interactions of analysts with ICO team members. Ratings predict ICO success, but imperfectly. Even favorably rated ICOs tend to fail when a greater portion of their ratings reciprocate prior ratings. Failure despite strong ratings is also frequent when analysts have a history of optimism, and when reviews strike a particularly positive tone. These findings suggest that information about the track record of analysts and their potentially conflicting activities is valuable to investors. |
| 主题 | Financial Economics |
| 关键词 | Analysts Asymmetric information Fintech Initial coin offering (ico) |
| URL | https://cepr.org/publications/dp16200 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545171 |
| 推荐引用方式 GB/T 7714 | Andreas Barth,Valerie Laturnus,Sasan Mansouri,et al. DP16200 ICO Analysts. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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