Information asymmetry in initial coin offerings (ICOs): Investigating the effects of multiple channel signals
作者：
Highlights：
• High credible and easy-interpretable signals are processed by investors in the crowd sale stage.
• Low credible and easy-interpretable signals are processed by investors in the listing stage.
• High credible and hard-interpretable signals lose their functions in both stages.
• Investor comments on social media play a role of information surveillance.
摘要
•High credible and easy-interpretable signals are processed by investors in the crowd sale stage.•Low credible and easy-interpretable signals are processed by investors in the listing stage.•High credible and hard-interpretable signals lose their functions in both stages.•Investor comments on social media play a role of information surveillance.
论文关键词：Entrepreneurial finance,Fintech,Information asymmetry,Initial coin offering,Signal processing
论文评审过程：Received 29 January 2019, Revised 12 May 2019, Accepted 12 May 2019, Available online 13 May 2019, Version of Record 22 May 2019.
论文官网地址：https://doi.org/10.1016/j.elerap.2019.100858
