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Signalling in ICO

Student: Nikitin Vadim

Supervisor: Sergey Stepanov

Faculty: Faculty of Economic Sciences

Educational Programme: Joint HSE-NES Undergraduate Program in Economics (Bachelor)

Final Grade: 8

Year of Graduation: 2018

This paper investigates signals that startups use during ICO to mitigate information asymmetry and moral hazard risks. Regression analysis of the market data indicates that ICO campaigns results are linked to mechanisms that enforce diversity among investors and vested interests across the teams, as well as to exogenous macro factors on the cryptocurrency markets.

Full text (added May 29, 2018)

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