ICO and IPO Markets: An Overview and Prospects

IF 1.6 3区工程技术 Q3 OPERATIONS RESEARCH & MANAGEMENT SCIENCE

Networks & Spatial Economics Pub Date : 2022-01-01 DOI:10.14530/se.2022.4.036-067

M. Abrekov, Andrey Vlasov

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引用次数: 0

Abstract

The purpose of this work is to study the investment capital markets by analysing the IPO and ICO procedures, identifying the main trends, leading sectors and comparing their volumes. The methodological basis was a retrospective analysis of the development of various forms of investment attraction (IPO and ICO). The main research methods were deduction, induction, synthesis and logical analysis. This article examined the main trends taking place in the IPO and ICO markets; key types of used blockchain platforms were identified; the leading countries and sectors in terms of the amount of funds raised are presented. The ICO market showed high growth rates in 2013–2018, but did not reach volumes comparable to the IPO market. Most of the projects that used the ICO (digital token issuance) procedures chose the Ethereum blockchain system as a platform, implemented projects in the fintech and IT industries, infrastructure development and decentralized applications (DApps). The leading states, residents, which have carried out the largest number of ICO procedures, are the USA, Singapore, United Kingdom and Hong Kong. In the IPO market, the largest volume of funds was attracted by projects from such sectors as finance, consumer services, oil and gas, industry and healthcare. The US remains the main platform chosen by companies for IPOs. The US is followed by the UK, China and Hong Kong

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ICO和IPO市场:概述和展望

这项工作的目的是通过分析IPO和ICO程序来研究投资资本市场，确定主要趋势，领先行业并比较其数量。方法基础是对各种形式的投资吸引(IPO和ICO)的发展进行回顾性分析。主要的研究方法有演绎法、归纳法、综合法和逻辑分析法。本文考察了IPO和ICO市场的主要趋势;确定了使用的区块链平台的关键类型;介绍了筹集资金数额方面的主要国家和部门。2013-2018年，ICO市场呈现高速增长，但没有达到与IPO市场相当的规模。大多数使用ICO(数字代币发行)程序的项目选择以太坊区块链系统作为平台，在金融科技和IT行业，基础设施开发和分散应用程序(DApps)中实施项目。执行ICO程序数量最多的主要国家和居民是美国、新加坡、英国和香港。在IPO市场上，吸引资金最多的是金融、消费服务、油气、工业和医疗等行业的项目。美国仍是企业选择的主要ipo平台。排在美国之后的是英国、中国内地和香港

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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来源期刊

Networks & Spatial Economics 社会科学-运筹学与管理科学

CiteScore

4.00

自引率

4.20%

发文量

审稿时长

>12 weeks

期刊介绍： Networks and Spatial Economics (NETS) is devoted to the mathematical and numerical study of economic activities facilitated by human infrastructure, broadly defined to include technologies pertinent to information, telecommunications, the Internet, transportation, energy storage and transmission, and water resources. Because the spatial organization of infrastructure most generally takes the form of networks, the journal encourages submissions that employ a network perspective. However, non-network continuum models are also recognized as an important tradition that has provided great insight into spatial economic phenomena; consequently, the journal welcomes with equal enthusiasm submissions based on continuum models. The journal welcomes the full spectrum of high quality work in networks and spatial economics including theoretical studies, case studies and algorithmic investigations, as well as manuscripts that combine these aspects. Although not devoted exclusively to theoretical studies, the journal is "theory-friendly". That is, well thought out theoretical analyses of important network and spatial economic problems will be considered without bias even if they do not include case studies or numerical examples.