ICO vs. Equity Financing under Imperfect, Complex and Asymmetric Information
This paper offers a game-theoretic model of a firm that raises funds for financing an innovative business project and chooses between ICO (initial coin offering) and equity financing. The model is based on information problems associated with both ICO and equity financing well-documented in the lite...
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-12-01
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| Series: | FinTech |
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| Online Access: | https://www.mdpi.com/2674-1032/3/1/2 |