Impact of Social Media on Fundraising Success in Initial Coin Offering (ICO) : An Empirical Investigation

Research output: Chapters, Conference Papers, Creative and Literary WorksRGC 32 - Refereed conference paper (with host publication)peer-review

4 Scopus Citations
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Detail(s)

Original languageEnglish
Title of host publicationPACIS 2020 Proceedings
Subtitle of host publicationPacifc Asia Conference on Information Systems (PACIS)
PublisherAssociation for Information Systems
ISBN (electronic)9781733632539
Publication statusPublished - Jun 2020

Publication series

NameProceedings of the Pacific Asia Conference on Information Systems: Information Systems (IS) for the Future, PACIS

Conference

Title24th Pacific Asia Conference on Information Systems (PACIS 2020)
LocationVirtual conference
PlaceUnited Arab Emirates
CityDubai
Period20 - 24 June 2020

Abstract

Initial coin offerings (ICOs) have become a major financing method for blockchain-related projects. However, ICO initiators face big challenges to attract investor attention systematically. Due to a lack of information, it is difficult for investors to evaluate the value of ICO projects. In general, ICO initiators have limited ways to inform potential investors of project related information. Although previous research shows social media can help firms to disseminate information and interact with customers, few studies examine how organizations can actively operationalize their social media account so as to improve ICO performance in particular. Specifically, we analyze a unique dataset consisting of more than 1700 ICO projects with firm social media activities. Combining social marketing and social learning theory, our study reveals that high activeness of firms and good timing announcements on social media are helpful with attracting investors and obtain better fundraising results in ICOs.

Research Area(s)

  • Blockchain, Cryptocurrency, ICO, Social media

Bibliographic Note

Research Unit(s) information for this publication is provided by the author(s) concerned.

Citation Format(s)

Impact of Social Media on Fundraising Success in Initial Coin Offering (ICO): An Empirical Investigation. / Xuan, Mengfan; Zhu, Xinyu; Zhao, J. Leon.
PACIS 2020 Proceedings: Pacifc Asia Conference on Information Systems (PACIS) . Association for Information Systems, 2020. (Proceedings of the Pacific Asia Conference on Information Systems: Information Systems (IS) for the Future, PACIS).

Research output: Chapters, Conference Papers, Creative and Literary WorksRGC 32 - Refereed conference paper (with host publication)peer-review