Developments in Entrepreneurial Finance. Determinants of Success of ICO Funding Campaigns

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Bachelor Thesis from the year 2020 in the subject Business economics - Investment and Finance, grade: 1, Vienna University of Economics and Business , language: English, abstract: The aim of this paper is to identify the determinants of success of ICO funding campaigns. Success is measured by the three proxy metrics funding, listing and survival success. By conducting an empirical analysis of a dataset containing information of 260 ICOs which took place between October 2017 and June 2019, a logit regression model is applied. The results should add to the already existing and constantly growing but still only sparse literature and research about what makes ICOs successful. The findings should point out which characteristics of ICOs are crucial for achieving success and are highly relevant for businesses, managers and start-ups, wishing to make use of initial token sales for funding purposes.