This study applies a novel topic modeling method to map the thematic content of initial coin offerings (ICO) white papers in order to analyze their informational value for investors. Using a phrase-based topic modeling algorithm, we empirically determine and quantify 30 topics in a large collection of 5,210 ICO white papers between 2015 and 2021. We find that the algorithm produces a semantically meaningful set of topics, which significantly improves the model’s performance in identifying successful projects. The most relevant topics concern the technical features of the ICO.
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The paper explores how sanctions affect international business (IB) and how firms respond to sanctions. We propose that firms’ reactions to sanctions can be analyzed through the lenses of leading IB theories, including institutions-based view and resource-based view. We argue that IB scholars can go beyond existing approaches to explain how firms act when facing sanctions. Moreover, we suggest that studies of firms facing sanctions help to reassess some of the assumptions underlying the prevailing theoretical explanations.
We contribute with systematic view on strategy options that international and domestic firms may implement when faced with sanctions.
PANIBRATOV Andrei - EMLV |
- Recherche
- Gouvernance, Management international