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Signaling value through gender diversity : evidence from initial coin offerings

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dc.contributor.authorGuzmán Vásquez, Alexanderspa
dc.contributor.authorPinto Gutiérrez, Cristian A.spa
dc.contributor.authorTrujillo Dávila, María Andreaspa
dc.contributor.orcidGuzmán Vásquez, Alexander [0000-0001-7675-048X]
dc.contributor.orcidPinto Gutiérrez, Cristian A. [0000-0002-7981-4968]
dc.contributor.orcidTrujillo Dávila, María Andrea [0000-0002-9592-7890]
dc.contributor.scopusGuzmán Vásquez, Alexander [55207224400]
dc.contributor.scopusPinto Gutiérrez, Cristian A. [57191261953]
dc.contributor.scopusTrujillo Dávila, María Andrea [55206416700]
dc.date.accessioned2023-06-21T22:23:02Z
dc.date.available2023-06-21T22:23:02Z
dc.date.issued2021-01-13
dc.description.abstractenglishWe analyze women’s participation and the effects of team gender diversity on initial coin offering (ICO) success measured by the total funding amount raised in the actual ICO and the project’s long-term survival. Using a database featuring 875 initial coin offerings between 2017 and 2019, we find that women are significantly under-represented in ICO projects (on average, only 13% of team members are women). However, for projects that do have participation of women, we find that team gender diversity increases the total funding raised in the ICO. Moreover, when we separate team members into areas of expertise or roles in the project, we find that the presence of women in critical positions, such as being a founder or having financial or legal responsibilities, significantly reduces the likelihood of long-term coin failure. Our results are consistent with the notion that investors perceive women’s participation in leadership positions as a positive signal of desirable organizational practices that will translate into better performance. Our results are also consistent with the idea that having women, who abide by ethical values and are less prone to fraud, reduces the likelihood that informationally opaque ICOs turn out to be scams.eng
dc.description.orcidhttps://orcid.org/0000-0001-7675-048X
dc.description.orcidhttps://orcid.org/0000-0002-7981-4968
dc.description.orcidhttps://orcid.org/0000-0002-9592-7890
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=55207224400
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=57191261953
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=55206416700
dc.identifier.doihttps://doi.org/10.3390/su13020700
dc.identifier.eissn2071-1050
dc.identifier.instnameinstname:Colegio de Estudios Superiores de Administración – CESA
dc.identifier.reponamereponame:Biblioteca Digital – CESA
dc.identifier.repourlrepourl:https://repository.cesa.edu.co/
dc.identifier.urihttp://hdl.handle.net/10726/5063
dc.language.isoeng
dc.publisherMDPI AG
dc.relation.citationissue2
dc.relation.citationvolume13
dc.relation.ispartofjournalSustainability
dc.rights.accessrightsinfo:eu-repo/semantics/openAccess
dc.rights.coarhttp://purl.org/coar/access_right/c_abf2
dc.rights.localAbierto (Texto Completo)
dc.subject.proposalGender diversity
dc.subject.proposalInitial coin offerings
dc.subject.proposalBlockchain
dc.subject.proposalEntrepreneurship
dc.titleSignaling value through gender diversity : evidence from initial coin offeringseng
dc.typearticle
dc.type.coarhttp://purl.org/coar/resource_type/c_2df8fbb1
dc.type.coarversionhttp://purl.org/coar/version/c_71e4c1898caa6e32
dc.type.driverinfo:eu-repo/semantics/article
dc.type.redcolhttp://purl.org/redcol/resource_type/ART
dc.type.versioninfo:eu-repo/semantics/acceptedVersion

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