The price and liquidity impact of china forbidding initial coin offerings on the cryptocurrency market

Sijia Zhang; Andros Gregoriou

doi:10.1080/13504851.2020.1713979

The price and liquidity impact of china forbidding initial coin offerings on the cryptocurrency market

Sijia Zhang, Andros Gregoriou

Law, Society and Justice Research Excellence Group

Research output: Contribution to journal › Article › peer-review

Abstract

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.

Original language	English
Pages (from-to)	1695-1698
Number of pages	4
Journal	Applied Economics Letters
Volume	27
Issue number	20
DOIs	https://doi.org/10.1080/13504851.2020.1713979
Publication status	Published - 10 Jan 2020

Bibliographical note

This 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

Keywords

Cryptocurrency
liquidity
bid-ask spread
Amihud ratio

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10.1080/13504851.2020.1713979

Letters_Cyrpto_AEL_revisionAccepted author manuscript, 323 KB

Cite this

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KW - Amihud ratio

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The price and liquidity impact of china forbidding initial coin offerings on the cryptocurrency market

Abstract

Bibliographical note

Keywords

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