Abstract
Research on initial coin offerings (ICOs) is nascent and assesses ICOs from ventures’ and regulators’ perspectives. Little is known about the equally important group of investors who provide their capital to ventures in ICOs. Using a primary dataset of 517 ICO investors collected in 2018, we perform a factor analysis to identify and categorize the motivations to invest in ICOs. We find that investors are driven by ideological motives, technological motives, and financial motives. To profile investors according to these motives, we then conduct a regression analysis to distinguish investors with high scores across the different motives. For example, we show significant differences across motives with regard to investors’ risk perception and the demand for a strict regulation. The implications of this study for theory and practice are considerable and discussed in detail.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
