IDEAS home Printed from https://ideas.repec.org/a/pkp/ijobem/v8y2021i3p219-233id1278.html
   My bibliography  Save this article

The Influence of Institutional Voids in the Institutionalization of Bitcoins as a Currency

Author

Listed:
  • Maike Rafael Sa
  • Jorge Renato Verschoore
  • Jefferson Marlon Monticelli

Abstract

Bitcoin is a social movement, which promises free and decentralized money, absent from the traditional regulatory institutions, but it can be challenging for financial industry regulators and other players in the financial markets. Thus, our study aims to analyze how the institutional voids manifest in the bitcoin institutionalization process as a currency. We adopt the institutional theory, from the perspective of institutional voids, in order to observe the concepts in emerging markets that show the difficulty or the beginning of the institutionalization of bitcoin as a currency. The institutional theory provides an opportunity to understand the reasons for using particular practices, actions, or manifestations. Our method is based on a qualitative exploratory approach with semi-structured interviews to understand how financial market experts perceive this phenomenon. Our results show that it is possible to identify how institutional voids manifest themselves, reinforcing the debate on whether bitcoin is, in fact, a currency.

Suggested Citation

  • Maike Rafael Sa & Jorge Renato Verschoore & Jefferson Marlon Monticelli, 2021. "The Influence of Institutional Voids in the Institutionalization of Bitcoins as a Currency," International Journal of Business, Economics and Management, Conscientia Beam, vol. 8(3), pages 219-233.
    • Handle: RePEc:pkp:ijobem:v:8:y:2021:i:3:p:219-233:id:1278
    as

    Download full text from publisher

    File URL: https://archive.conscientiabeam.com/index.php/62/article/view/1278/1801
    Download Restriction: no
    File URL: https://archive.conscientiabeam.com/index.php/62/article/view/1278/5079
    Download Restriction: no
    ---><---

    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:pkp:ijobem:v:8:y:2021:i:3:p:219-233:id:1278. 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: Dim Michael (email available below). General contact details of provider: https://archive.conscientiabeam.com/index.php/62/ .

    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.