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dc.contributor.author
Akyildirim, Erdinç
dc.contributor.author
Corbet, Shaen
dc.contributor.author
Cumming, Douglas
dc.contributor.author
Lucey, Brian
dc.contributor.author
Sensoy, Ahmet
dc.date.accessioned
2020-09-02T12:54:50Z
dc.date.available
2020-07-23T05:45:05Z
dc.date.available
2020-09-02T12:54:50Z
dc.date.issued
2020-10
dc.identifier.issn
0040-1625
dc.identifier.other
10.1016/j.techfore.2020.120191
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/428110
dc.description.abstract
Cryptocurrencies have been broadly scrutinised in recent times for a host of concerning regulatory and cybercriminality issues. Although steps have been taken to promote regulatory sufficiency in the near future, we examine the avenues through which this extremely high-risk industry can derive potentially devastating contagion channels, influencing both unwilling and unsuspecting investors. We focus this research on the expressions of interest by publicly traded companies across the world to utilise cryptocurrency and blockchain projects. We find evidence that there exists a substantial stock price premium and sustained increase in volatility in the aftermath of blockchain announcements, with emphasis on highly-speculative motives such as coin creation and corporate name changes. Changes in price discovery and information flows are found to be largely determined from cryptocurrency-based pricing sources in the aftermath of speculative announcements. We discuss the inherent ethical and legal issues, considering as to whether such announcements are simply an attempt to artificially manipulate share prices and take part in the current phase of crypto-exuberance.
en_US
dc.language.iso
en
en_US
dc.publisher
Elsevier
en_US
dc.subject
Cryptocurrencies
en_US
dc.subject
Market Manipulation
en_US
dc.subject
ICO
en_US
dc.subject
Volatility
en_US
dc.subject
Price Discovery
en_US
dc.title
Riding the Wave of Crypto-Exuberance: The Potential Misusage of Corporate Blockchain Announcements
en_US
dc.type
Journal Article
dc.date.published
2020-07-15
ethz.journal.title
Technological Forecasting and Social Change
ethz.journal.volume
159
en_US
ethz.journal.abbreviated
Technol. Forecasting Soc. Change
ethz.pages.start
120191
en_US
ethz.size
25 p.
en_US
ethz.identifier.scopus
ethz.publication.place
New York, NY
en_US
ethz.publication.status
published
en_US
ethz.date.deposited
2020-07-23T05:45:18Z
ethz.source
SCOPUS
ethz.eth
yes
en_US
ethz.availability
Metadata only
en_US
ethz.rosetta.installDate
2020-09-02T12:55:01Z
ethz.rosetta.lastUpdated
2020-09-02T12:55:01Z
ethz.rosetta.versionExported
true
ethz.COinS
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