Factors of Success of Initial Coin Offering. Empirical Evidence from 2016-2019
Since 2013, Initial Coin Offerings (ICO) have allowed companies to attract financing with the help of cryptocurrencies. Statistics of ICO shows that the ICO market is increasing and demand for funds continues to grow with claims of over $ 15 billion raised in the first half of 2018. The increasing volumes of investment in ICO projects as an alternative method to venture capital or IPO are caused by, for example, the possibility of reselling the received tokens at a higher price after the launch of the project or obtaining the company’s services at lower prices. While the importance of the topic is growing, there is the absence of fundamental works emphasizing the determinants of an ICO’s success. The scientific novelty of the forthcoming research consists in the formation of the model evaluation of ICO success. Using econometric analysis based on data for 1392 projects, we show that the volatility of the main cryptocurrencies has a significant impact on the success of ICO. The constraints of the platform for Smart Contacts (ERC‑20) and dependence on the Ethereum volatility overcome all other factors. Our data contributes to existing literature and shows the insignificance of the sector of the project, almost all location region and fluctuation of influence of quality of the team. This result may be explained by the uncertainty of the investor about the project (weak signals), absence of the regulation and legal framework. This result is beneficial for owners of companies since it is an argument for decreasing costs for marketing.
XVI International Symposium "Problems of Redundancy in Information and Control Systems" is the conference that covers a wide area of aspects of information and communication systems. The main goal of the Symposium foundation is the reinforcement of cooperation between the representatives of various scientific schools, a possibility for the participants to get awareness of the latest scientific and technical achievements and sharing their experience with colleagues. The covered topics include but not limited to information and coding theory, telecommunication protocols, internet of things systems, machine learning, data security, blockchain.
Prospects of innovative development of education on the basis of realization of the opportunities given by information society are discussed. Conditions of formation and development of the information-communication educational space (ICES) are studied. The task of creating of the information-analytical web-portal of Russian educational complex (REC) as a key system-forming element of innovative infrastructure of ICES is formulated. The technique of modeling and forecasting of innovative development of REC is offered. The concept of an intellectual control system of innovative development of REC in the conditions of information society is proposed and substantiates.
International Research GSOM Emerging Markets Conference-2017 will be held on October 5-7, 2017 at Graduate School of Management of St. Petersburg State University.
The conference is an important platform for discussing a wide variety of research in the context of emerging markets. In 2016 the conference was attended by more than 430 participants – researchers from 60 leading universities from Europe, Russia, India, UK, USA, China, Brazil and other countries, business practitioners and representatives of state authorities and regulatory bodies.
Conference working language is English
The papers in this special issue focus on the emerging phenomenon of cryptocurrencies. Cryptocurrencies are digital financial assets, for which ownership and transfers of ownership are guaranteed by a cryptographic decentralized technology. The rise of cryptocurrencies’ value on the market and the growing popularity around the world open a number of challenges and concerns for business and industrial economics. Using the lenses of both neoclassical and behavioral theories, this introductory article discusses the main trends in the academic research related to cryptocurrencies and highlights the contributions of the selected works to the literature. A particular emphasis is on socio-economic, misconduct and sustainability issues. We posit that cryptocurrencies may perform some useful functions and add economic value, but there are reasons to favor the regulation of the market. While this would go against the original libertarian rationale behind cryptocurrencies, it appears a necessary step to improve social welfare.
There are some reasons, why both social investors and social project initiators (including NGO) need mediators for the process of investments. Mediators can reduce transaction costs for both sides because they shoulder the functions of search, audit, information expansion and also they create convenient services for investors and recipients. So social exchange platforms provides “good and clear” competition for resources in Russian “third sector” of economy.
Crowdfunding platforms develop as a valuable business model in sharing economy. Through intensive market development, a question arises: what it takes for a crowdfunding project to succeed. This paper aims to identify the features of crowdfunding projects influencing the outcome. The country‐of‐origin effect is taken into account to compare the outcomes in Russian crowdfunding platform and the worldwide known Kickstarter platform. Machine learning methods are applied to primary data regarding projects on these two platforms to determine and to compare the influence of factors. The results show that there is a difference in strength of factors’ influence on the Russian platform as compared to Kickstarter.
The article describes the production models of IT-projects. The comparative analysis of financial features of the three most popular models is considered: model, in which publisher and developer are in the one company, model, in which publisher hires outsource company of developers and innovation crowdfunding model. For crowdfunding model the most successfully funded games are analyzed.
The current challenges of many mobility solutions are based on an extremely fragmented booking system with complex service layers. A cross-company and user-friendly exchange of information and offers from different mobility providers is often not possible. Against this background, Distributed Ledger Technology (DLT) has the potential to revolutionize the existing mobility sector and enable completely new business models. Thus, we present a distributed mobility platform, which is valuable for a variety of mobility services. In contrast to conventional platform approaches, the data management of our infrastructure is distributed, transparent, and cost-efficient. By prototypically implementing the concept, we can demonstrate its technical feasibility and at the same time demonstrate that the introduction of our distributed mobility concept will benefit both the supply and demand sides of public transportation.