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【明理講堂2022年第9期】3-10佛羅里達大學Hsing Kenneth Cheng教授:Operation Dumbo Drop: To Airdrop or Not to Airdrop for Initial Coin Offering Success?

時間:3月10日(周四)上午9:00-10:30

騰訊會議號:116 155 486

報告人:佛羅里達大學Hsing Kenneth Cheng教授

報告人簡介:

Hsing Kenneth Cheng教授是佛羅里達大學John B. Higdon杰出學者、Warrington商學院信息系統和運營管理系系主任。他于1992年獲得羅徹斯特大學計算機與信息系統博士學位。鄭教授的主要研究方向為互聯網技術對軟件開發和市場營銷的影響分析、信息系統政策問題(特別是關于網絡中立性的全國辯論)。基于在前三名信息系統期刊上發表的論文,鄭教授在全球信息系統100名研究人員中排名第20位(2009-2011年)和第16位(2010-2012年)。鄭教授目前任Decision Sciences副主編,Journal of the Association for Information Systems、Information Systems and electronic Management高級編輯。2011-2014年擔任Information Systems Research副主編,曾任職于許多信息系統會議和研討會的項目委員會,并擔任Workshop on E-Business (2003年,2012年)和Taiwan Summer Workshop on Information Management項目聯合主席。

報告內容簡介:

The rapid advancement and adoption of blockchain technology has heralded an explosive growth of Initial Coin Offerings (ICOs) as a new and popular fundraising approach for blockchain start-ups. To advertise their project before the ICO and to motivate blockchain individuals to invest in the subsequent ICO, a growing number of blockchain-based project founders employ an airdrop campaign through which they distribute a specific amount of free official tokens or promotion tokens to potential investors on blockchain with or without their permissions. Of paramount concerns to the blockchain companies contemplating whether to launch an airdrop campaign are whether the airdrop campaign has a positive effect on the potential investors’ investment behaviors in their ICOs, and how the efficacy of the airdrop may vary with their individual characteristics. To address these critical questions, we implement a regression discontinuity design by leveraging the quasi-randomization of a blockchain project’s promotional airdrop campaign on the Ethereum platform. We find that the promotional airdrop leads to a 2.3 times increase of the potential investors’ ICO investment probability. We further find that the airdrop is more effective in increasing the investment probability for individuals whose personality traits are dissimilar to the block-chain project than those similar to the project. Our study contributes to the literature of ICOs, personality similarity, and direct-to-consumer marketing, and provides important and useful managerial implications to blockchain companies on whether and how to launch an airdrop campaign.

(承辦:管理工程系、科研與學術交流中心)

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