Readability of token whitepaper and ICO first-day return

We study the association between readability of the ICO whitepaper and the offering’s first-day return. Using data from the four largest tokens exchanges in Asia, we find that an ICO whitepaper narrative with more readable disclosures is likely to result in a higher initial return for ICO investors.

Publication year:2019

Keywords:A1 Journal article

BOF-keylabel:yes

BOF-publication weight:0.1

CSS-citation score:2

Authors:International

Authors from:Higher Education

Accessibility:Open