IDEAS home Printed from https://ideas.repec.org/a/cai/inndbu/inno_pr2_0129.html
   My bibliography  Save this article

Une meilleure rémunération des mineurs : un effet positif sur la performance financière des cryptomonnaies

Author

Listed:
  • Elise Alfieri
  • Yann Ferrat

Abstract

To cope with the weakened financial system, the innovative ecosystem of cryptocurrencies and the blockchain seem to emerge as alternative solutions. While they offer a decentralized governance, cryptocurrencies also provide exposure to social dimensions. We thus pose the following research question: is there a virtuous circle between extra-financial and financial performance for cryptocurrencies? To answer this question, we analyze the social performance, an extra-financial dimension, through miners? compensation. Using a sample of cryptocurrencies between 2015 and 2021, we follow two econometric modeling approaches, namely portfolios constituted based on miner compensation and a panel regression model. This dual approach allows an analysis of the relationship at the macro and microeconomic level as well as enhancing the robustness of our inferences. Our results show that the social and financial performance relationship is positive. Thus, enhanced value sharing in the cryptocurrency landscape appears synonymous of greater financial performance. JEL Codes: C58, G14, G19, M14

Suggested Citation

  • Elise Alfieri & Yann Ferrat, 2022. "Une meilleure rémunération des mineurs : un effet positif sur la performance financière des cryptomonnaies," Innovations, De Boeck Université, vol. 0(2), pages 53-77.
    • Handle: RePEc:cai:inndbu:inno_pr2_0129
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=INNO_PR2_0129
    Download Restriction: restricted
    File URL: http://www.cairn.info/revue-innovations-2022-2-page-53.htm
    Download Restriction: restricted
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Bitcoin; Cryptocurrencies; Value Sharing; Social Performance; Returns;
    All these keywords.

    JEL classification:

    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G19 - Financial Economics - - General Financial Markets - - - Other
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:inndbu:inno_pr2_0129. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jean-Baptiste de Vathaire (email available below). General contact details of provider: https://www.cairn.info/revue-innovations.htm .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.