In this article, we empirically examine the cryptocurrency market reaction to china prohibiting initial coin offerings, on the 4 September 2007 for the 100 largest cryptocurrencies. The announcement has a significant negative but temporary impact on cryptocurrency returns and liquidity.
Bibliographical noteThis is an Accepted Manuscript of an article published by Taylor & Francis in Applied Economics Letters on 10/1/2020, available online: http://www.tandfonline.com/10.1080/13504851.2020.1713979
- bid-ask spread
- Amihud ratio