Determinants of ICO success and post-ICO performance

Initial coin offerings (ICOs) have emerged as an alternative way of raising funds for entrepreneurial ventures to develop a new project or product. In this study, comprehensive analysis is conducted on the determinants ICO success and aftermarket performance ICOs. Our evidence suggests that ICOs with higher ratings, shorter planned token sale duration, smaller share sale, larger number experts more members in developing team greater likelihood funds. We also show offer price market sentiment play major role explaining longer term post-ICO performance. Yet, key successful differ between boom vs bust periods cryptocurrency markets.