Attention to global warming and the success of environmental initial coin offerings : empirical evidence

We analyze the effects of attention to global warming on the success of environmental initial coin offerings (ICOs) measured by the total funding amount raised in the actual ICOs and the long-term survival of the projects. Using a database featuring 324 environmental initial coin offerings between 2017 and 2019, we find that attention to global warming increases the total funding raised in an environmental ICO. Moreover, we find that environmental offerings that occur during periods of greater attention to global warming are significantly less likely to fail in the long term. Our results are consistent with the idea that investor attention as a market-discipline mechanism increases the likelihood of survival for environmental ICOs.

• Autores: Guzmán Vásquez, Alexander; Pinto Gutiérrez, Cristian A.; Trujillo Dávila , María Andrea
• Tipo de recurso: Article of investigation
• Fecha de publicación: 2020
• Institución: Colegio de Estudios Superiores de Administración
• Repositorio: Repositorio CESA
• Idioma: eng
• OAI Identifier: oai:repository.cesa.edu.co:10726/5066
• Acceso en línea: http://hdl.handle.net/10726/5066; https://doi.org/10.3390/su12239885
• Palabra clave: Initial coin offering; Blockchain; Global warming; Climate change
• Rights: openAccess
• License: Abierto (Texto Completo)