Cryptocurrencies and Finance Theories

IF 0.3 Q4 BUSINESS, FINANCE

Asia-Pacific Management Accounting Journal Pub Date : 2021-08-31 DOI:10.24191/apmaj.v16i2-12

A. Abdulbasith, M. Elgammal, Bana M. Abuzayed

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Abstract

Cryptocurrency (CCY) as a new key player in the currency system that has drawn the attention of scholars to examine its influence, relations and the opportunities that it may provide. However, a financial theoretical framework to connect CCY with financial theory is missing. This paper fills this gap by providing a review for the theoretical framework introduced in the literature to position CCY in investment and finance theories. This is done by studying the CCY literature and providing a critical feedback on the overall contributions in the area and possible venues for improvement. We report a need for a long-term analysis for CCY as this asset class is fairly new and sufficient data may not be available. Moreover, a better connection and linking with finance theories is required as it is significantly deficient. The promising potential of blockchain/ CCY stresses the need for interdisciplinary research including business, legal and information technology disciplines. In addition, the Covid-19 pandemic opens the door for further research to investigate the role of CCY as a hedge in the times of crises. Keywords: digital ledger technology, cryptocurrency bitcoin, finance theory, investment, fintech

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加密货币与金融理论

加密货币(CCY)作为货币体系中的一个新的关键参与者，引起了学者们的注意，研究它的影响、关系和它可能提供的机会。然而，缺乏一个将CCY与金融理论联系起来的金融理论框架。本文通过对文献中引入的理论框架的回顾来填补这一空白，从而将CCY置于投资和金融理论中。这是通过研究CCY文献并对该领域的总体贡献和可能的改进场所提供关键反馈来完成的。我们报告需要对CCY进行长期分析，因为这一资产类别相当新，而且可能没有足够的数据。此外，由于金融理论的明显不足，需要更好地与金融理论进行连接和联系。b区块链/ CCY的巨大潜力强调需要进行包括商业、法律和信息技术学科在内的跨学科研究。此外，2019冠状病毒病大流行为进一步研究CCY在危机时期作为对冲工具的作用打开了大门。关键词:数字账本技术，加密货币比特币，金融理论，投资，金融科技

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Asia-Pacific Management Accounting Journal BUSINESS, FINANCE-

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