【Author】 Vidal-Tomas, David; Ibanez, Ana M.; Farinos, Jose E.
【Source】MATHEMATICS
【影响因子】2.592
【Abstract】We analyze the economic efficiency of the cryptocurrency market after the launch of Bitcoin futures by means of the Data Envelopment Analysis and Malmquist Indexes. Our results show that the introduction of Bitcoin futures did not affect the economic efficiency of the cryptocurrency market. However, we observe that Bitcoin obtained the highest risk-return trade-off due to its liquidity compared to the rest of cryptocurrencies. Therefore, our paper underlines the support of investors on Bitcoin to the detriment of the rest of cryptocurrencies.
【Keywords】DEA; Malmquist Index; cryptocurrency; risk-return trade-off; economic efficiency
【发表时间】2021 FEB
【收录时间】2022-01-02
【文献类型】
【主题类别】
--
【DOI】 10.3390/math9040413
评论