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

Access to Document

10.1080/13504851.2020.1713979

Letters_Cyrpto_AEL_revisionAccepted author manuscript, 323 KB

Cite this

@article{55f2302bdb744d3787c1c280292fa9cd,

title = "The price and liquidity impact of china forbidding initial coin offerings on the cryptocurrency market",

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.",

keywords = "Cryptocurrency, liquidity, bid-ask spread, Amihud ratio",

author = "Sijia Zhang and Andros Gregoriou",

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",

year = "2020",

month = jan,

day = "10",

doi = "10.1080/13504851.2020.1713979",

language = "English",

volume = "27",

pages = "1695--1698",

journal = "Applied Economics Letters",

issn = "1350-4851",

number = "20",

}

TY - JOUR

T1 - The price and liquidity impact of china forbidding initial coin offerings on the cryptocurrency market

AU - Zhang, Sijia

AU - Gregoriou, Andros

N1 - 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

PY - 2020/1/10

Y1 - 2020/1/10

N2 - 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.

AB - 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.

KW - Cryptocurrency

KW - liquidity

KW - bid-ask spread

KW - Amihud ratio

UR - https://www.scopus.com/pages/publications/85078628945

U2 - 10.1080/13504851.2020.1713979

DO - 10.1080/13504851.2020.1713979

M3 - Article

SN - 1350-4851

VL - 27

SP - 1695

EP - 1698

JO - Applied Economics Letters

JF - Applied Economics Letters

IS - 20

ER -

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

Abstract

Bibliographical note

Keywords

Access to Document

Other files and links

Fingerprint

Cite this