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Team composition as a potential success factor in an initial coin offering

Title data

Rothmann, Johanna ; Schüler, Jens ; Baum, Matthias:
Team composition as a potential success factor in an initial coin offering.
2019
Event: 23. Interdisziplinäre Jahreskonferenz zur Gründungsforschung (G-Forum) , 25.– 27. September 2019 , Wien, Austria.
(Conference item: Conference , Paper )

Abstract in another language

Initial Coin Offerings (ICOs) are a new, innovative and relevant funding mechanism for new ventures. In order to acquire much needed external resources, new ventures have to overcome legitimacy hurdles by signaling their merits, quality, and chances for success to potential investors. In contrast to more traditional funding methods, our understanding of founding team characteristics, as a key success factor for firms to signal, still remains unexplored in the ICO context. Hence, this study aims to contribute to the broader entrepreneurial finance literature and ICO research by illuminating the importance of founding team compositions in this novel and innovative funding setting. To achieve this, we examine the effects of team size, prior experience, as well as human and social capital on the amount of capital raised. Our findings suggest that, in contrast to more traditional funding methods, investors seem to pay less, if any, attention to team characteristics in the context of ICOs.

Further data

Item Type: Conference item (Paper)
Refereed: Yes
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XVI > Chair Business Administration XVI - Univ.-Prof. Dr. Matthias Baum
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XVI
Result of work at the UBT: No
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 11 May 2020 08:33
Last Modified: 27 Jan 2021 09:54
URI: https://eref.uni-bayreuth.de/id/eprint/55121