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The role of business models in the funding success of initial coin offerings

Title data

Schüler, Jens ; Rothmann, Johanna ; Baum, Matthias:
The role of business models in the funding success of initial coin offerings.
Event: 23. Interdisziplinäre Jahreskonferenz zur Gründungsforschung (G-Forum) , 25.– 27. September 2019 , Wien, Austria.
(Conference item: Conference , Paper )

Abstract in another language

Blockchain technology opened up a new opportunity space for digital entrepreneurial activities and enabled the emergence of initial coin offerings (ICOs) as a potentially disruptive financing mechanism for new ventures. However, new practices such as ICOs are typically characterized by ambiguities regarding their appropriateness and startups that operate in such innovative but uncertain contexts must signal their viability to potential investors. A key aspect to signal is how a new technology will be employed in the underlying logic of how a new venture will deploy its resources to create and capture value for its stakeholders. Hence, we explore how startups harness blockchain technology in the configuration of their business model characteristics and how the signaling of these predicts ICO funding success.

Further data

Item Type: Conference item (Paper)
Refereed: Yes
Keywords: Initial coin offerings; Business models; Blockchain; Entrepreneurial finance
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XVI > Chair Business Administration XVI - Univ.-Prof. Dr. Matthias Baum
Result of work at the UBT: No
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 11 May 2020 08:34
Last Modified: 27 Jan 2021 08:46
URI: https://eref.uni-bayreuth.de/id/eprint/55122