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Does Geopolitical Risk Matter for the Success of Initial Coin Offerings?

Author

Listed:
  • Aristogenis Lazos

    (Audencia Business School)

  • Laurent Pataillot

    (IÉSEG School Of Management [Puteaux])

Abstract

This study investigates the effect of country-specific geopolitical risk (GPR) on initial coin offering (ICO) success. The findings of this study reveal a positive relation. A plausible explanation may lie in prospect theory. When losses are more likely to take place, investors are risk-seeking and may overweight the low probability of hitting a big win in their pursuit of high returns. As a result, they may invest in high GPR ICOs that, in turn, may have a positive effect on their success. High GPR ICOs that employ the know your customer scheme, however, exhibit a lower likelihood of success.

Suggested Citation

  • Aristogenis Lazos & Laurent Pataillot, 2026. "Does Geopolitical Risk Matter for the Success of Initial Coin Offerings?," Post-Print hal-05595808, HAL.
    • Handle: RePEc:hal:journl:hal-05595808
    DOI: 10.1002/ijfe.70070
    Note: View the original document on HAL open archive server: https://hal.science/hal-05595808v1
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