{"id":8959,"date":"2018-07-27T14:13:46","date_gmt":"2018-07-27T12:13:46","guid":{"rendered":"https:\/\/droitetcroissance.fr\/?p=8959"},"modified":"2023-12-06T11:31:16","modified_gmt":"2023-12-06T10:31:16","slug":"initial-coin-offerings-early-evidence-on-the-role-of-disclosure-in-the-unregulated-crypto-market","status":"publish","type":"post","link":"https:\/\/droitetcroissance.fr\/en\/2018\/07\/initial-coin-offerings-early-evidence-on-the-role-of-disclosure-in-the-unregulated-crypto-market\/","title":{"rendered":"Initial Coin Offerings: Early Evidence on the Role of Disclosure in the Unregulated Crypto Market"},"content":{"rendered":"[spb_column width=&#8221;1\/3&#8243; el_position=&#8221;first&#8221;] [spb_single_image image=&#8221;7115&#8243; image_size=&#8221;full&#8221; frame=&#8221;noframe&#8221; intro_animation=&#8221;none&#8221; full_width=&#8221;no&#8221; lightbox=&#8221;yes&#8221; link_target=&#8221;_self&#8221; width=&#8221;1\/1&#8243; el_position=&#8221;first last&#8221;] [\/spb_column] [spb_column width=&#8221;2\/3&#8243; el_position=&#8221;last&#8221;] [spb_text_block pb_margin_bottom=&#8221;no&#8221; pb_border_bottom=&#8221;no&#8221; width=&#8221;1\/1&#8243; el_position=&#8221;first last&#8221;]\n<p>Le march\u00e9 non r\u00e9glement\u00e9 des ICO est devenu un canal de financement important avec plus de 13 milliards de dollars lev\u00e9s jusqu\u2019\u00e0 mi-2018 par un ensemble d\u2019entreprises de plus de 50 pays. Nous utilisons des donn\u00e9es sur 750 ICOs entre avril 2014 et mai 2018. Nous constatons que la probabilit\u00e9 de lever des fonds est positivement associ\u00e9e \u00e0 la qualit\u00e9 de l\u2019information divulgu\u00e9e par les \u00e9metteurs lors de l\u2019ICO. De m\u00eame, la qualit\u00e9 de l\u2019information est n\u00e9gativement associ\u00e9e \u00e0 la probabilit\u00e9 d\u2019un effondrement du cours de bourse et \u00e0 la volatilit\u00e9 du cours. Notre \u00e9tude fournit des preuves nouvelles sur le r\u00f4le de la divulgation volontaire d\u2019information qui prot\u00e8ge les participants sur un march\u00e9 des capitaux totalement non r\u00e9glement\u00e9.<\/p>\n<p><a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3193392\">&gt;&gt;&gt; Lire l&#8217;article<\/a><\/p>\n[\/spb_text_block] [\/spb_column]\n","protected":false},"excerpt":{"rendered":"<p>[spb_column width=&#8221;1\/3&#8243; el_position=&#8221;first&#8221;] [spb_single_image image=&#8221;7115&#8243; image_size=&#8221;full&#8221; frame=&#8221;noframe&#8221; intro_animation=&#8221;none&#8221; full_width=&#8221;no&#8221; lightbox=&#8221;yes&#8221; link_target=&#8221;_self&#8221; width=&#8221;1\/1&#8243; el_position=&#8221;first last&#8221;] [\/spb_column] [spb_column width=&#8221;2\/3&#8243; el_position=&#8221;last&#8221;] [spb_text_block pb_margin_bottom=&#8221;no&#8221; pb_border_bottom=&#8221;no&#8221; width=&#8221;1\/1&#8243; el_position=&#8221;first last&#8221;] Le march\u00e9 non r\u00e9glement\u00e9 des ICO est devenu un canal de financement important avec plus de 13 milliards de dollars lev\u00e9s jusqu\u2019\u00e0 mi-2018 par un ensemble d\u2019entreprises de plus de 50 pays. Nous utilisons des donn\u00e9es [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_rsvp_to":"","_rsvp_max":"","_rsvp_show_attendees":"","_rsvp_instructions":"","simple_price":"","simple_price_label":"Billets","venue":"","_template_start_hour":"","_template_start_minutes":"","_sked_minutes":"","_sked_stop":"","_sked_duration":"","_payment_gateway":"Cash or Custom","_rsvp_currency":"USD","_sked_hour":"12","_sked_end":"13:00","rsvp_tx_template":0,"_rsvp_start":0,"_rsvp_deadline":0,"_rsvp_deadline_daysbefore":"0","_rsvp_deadline_hours":"0","_rsvp_reg_daysbefore":"0","_rsvp_reg_hours":"0","_rsvp_count_party":"1","_timezone":"Europe\/Paris","_rsvp_on":false,"_add_timezone":false,"_convert_timezone":false,"_calendar_icons":true,"_rsvp_end_display":false,"_rsvp_rsvpmaker_send_confirmation_email":false,"_rsvp_confirmation_after_payment":false,"_rsvp_confirmation_include_event":false,"_rsvp_count":true,"_rsvp_yesno":true,"_rsvp_captcha":false,"_rsvp_login_required":false,"_rsvp_form_show_date":false,"_show_rsvpmaker_options":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false},"categories":[837,869],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Initial Coin Offerings: Early Evidence on the Role of Disclosure in the Unregulated Crypto Market - Droit &amp; 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