Readability of token whitepaper and ICO first-day return

【Author】 Zhang, Shuyu; Aerts, Walter; Lu, Liping; Pan, Huifeng

【Source】ECONOMICS LETTERS

【影响因子】1.469

【Abstract】We study the association between readability of the ICO whitepaper and the offering's first-day return. Using data from the four largest tokens exchanges in Asia, we find that an ICO whitepaper narrative with more readable disclosures is likely to result in a higher initial return for ICO investors. (C) 2019 Elsevier B.V. All rights reserved.

【Keywords】Cryptocurrency; Bitcoin; ICO; Token; Readability

【发表时间】2019 JUL

【收录时间】2022-01-02

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