加密货币投资行为调查

IF 0.4 Q4 BUSINESS, FINANCE Journal of Alternative Investments Pub Date : 2019-12-06 DOI:10.3905/jai.2020.1.108
Dingli Xi, Timothy O'Brien, E. Irannezhad
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引用次数: 29

摘要

本文调查了个人加密货币投资者在不同首次代币发行(ICO)中表现出的社会人口特征,以及影响他们投资决策的因素。我们在澳大利亚和中国的区块链和加密货币追随者中进行了一项基于网络的揭示偏好调查,并应用多项式Logit模型推断分析了加密货币投资者的特征,以及他们选择投资“加密货币币”与其他类型ICO代币的决定因素。结果显示,澳大利亚和中国加密货币用户在这两种选择的决定因素上存在差异。这两种选择的重要因素包括年龄、性别、教育、职业和投资经验,它们与行为文献非常吻合。此外,除了对ICO属性的排名存在差异外,中国和澳大利亚投资者对威慑因素和投资策略的排名也存在进一步差异。主题:货币、新兴市场关键发现•选择加密货币投资的重要因素包括年龄、性别、教育、职业和以前的投资经验。•中国和澳大利亚投资者对ICO属性的排名不同。•中国和澳大利亚投资者的威慑因素和投资策略各不相同。
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Investigating the Investment Behaviors in Cryptocurrency
This article investigates the socio-demographic characteristics that individual cryptocurrency investors exhibit and the factors that go into their investment decisions in different Initial Coin Offerings (ICOs). We conducted a web-based revealed preference survey among Australian and Chinese blockchain and cryptocurrency followers, and applied a Multinomial Logit model to inferentially analyze the characteristics of cryptocurrency investors and the determinants of their choice of investment in “cryptocurrency coins” versus other types of ICO tokens. The results showed differences in the determinant of these two choices among Australian and Chinese cryptocurrency folks. The significant factors of these two choices included age, gender, education, occupation, and investment experience, and they aligned well with the behavioral literature. Furthermore, in addition to differences in how they ranked the attributes of ICOs, there was further variance between how Chinese and Australian investors ranked deterrence factors and investment strategies. TOPICS: Currency, emerging markets Key Findings • The significant factors of the choice of investment in cryptocurrency include age, gender, education, occupation, and previous investment experience. • Chinese and Australian investors rank the ICO attributes differently. • The deterrence factors and investment strategies vary between Chinese and Australians investors.
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来源期刊
CiteScore
1.50
自引率
14.30%
发文量
40
期刊介绍: The Journal of Alternative Investments (JAI) provides you with cutting-edge research and expert analysis on managing investments in hedge funds, private equity, distressed debt, commodities and futures, energy, funds of funds, and other nontraditional assets. JAI is the official publication of the Chartered Alternative Investment Analyst Association (CAIA®). JAI provides you with challenging ideas and practical tools to: •Profit from the growth of hedge funds and alternatives •Determine the optimal mix of traditional and alternative investments •Measure and track portfolio performance •Manage your alternative investment portfolio with proven risk management practices
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