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Initial coin offerings for business: a systematic literature review and bibliometric analysis

Author

Listed:
  • Ploypailin Kijkasiwat

    (The Faculty of Business Administration and Accountancy, Khon Kaen University)

  • Hamza Almustafa

    (The Hashemite University)

  • Pongsutti Phuensane

    (The Faculty of Business Administration and Accountancy, Khon Kaen University)

Abstract

Startups encounter many barriers in relation to accessing raditional sources of financing. Initial coin offering (ICO) have emerged as an alternative to traditional business financing mechanisms. The purpose of this paper is to provide a synthetized overview of the research on ICO. This paper undertakes a systematic literature review in combination with bibliometric analysis to contribute to this somewhat novel field. Prior research on ICO and digital assets is summarized and pertinent laws and regulations in different countries are reviewed. The article then proposes potential examples of how fractional ownership of digital assets could work and considers the possibility of a digital asset exchange market. The findings provide significant insights into the opportunities and challenges of ICO, as well as the types of ICO and their impacts on startups. Based on this exploratory discussion, this paper raises a number of questions for investigation in future research.

Suggested Citation

  • Ploypailin Kijkasiwat & Hamza Almustafa & Pongsutti Phuensane, 2023. "Initial coin offerings for business: a systematic literature review and bibliometric analysis," SN Business & Economics, Springer, vol. 3(1), pages 1-31, January.
  • Handle: RePEc:spr:snbeco:v:3:y:2023:i:1:d:10.1007_s43546-022-00386-0
    DOI: 10.1007/s43546-022-00386-0
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    References listed on IDEAS

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    More about this item

    Keywords

    Initial coin offering (ICO); Bibliometric analysis; Systematic literature review; Blockchain; Cryptocurrency; Financial perspective;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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