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- 01J6PCF6BDS80RFV9GR3XWGVTN classification A1.
- 01J6PCF6BDS80RFV9GR3XWGVTN date "2025".
- 01J6PCF6BDS80RFV9GR3XWGVTN language "eng".
- 01J6PCF6BDS80RFV9GR3XWGVTN type journalArticle.
- 01J6PCF6BDS80RFV9GR3XWGVTN hasPart 01J6PCGGSN5G39A64RJB3WPA1J.pdf.
- 01J6PCF6BDS80RFV9GR3XWGVTN subject "Business and Economics".
- 01J6PCF6BDS80RFV9GR3XWGVTN doi "10.1007/s11187-024-00964-6".
- 01J6PCF6BDS80RFV9GR3XWGVTN issn "0921-898X".
- 01J6PCF6BDS80RFV9GR3XWGVTN issn "1573-0913".
- 01J6PCF6BDS80RFV9GR3XWGVTN abstract "Drawing on institutional and demand-side perspectives, we investigate performance implications of (de)centralized governance modes in platform-based new ventures, and the conditions under which (de)centralization generates more value. Using a sample of 1,431 Initial Coin Offerings (ICOs), a new source of entrepreneurial finance, we find that centralization of decision-making is positively associated with platforms' market value. Further, we consider how platform characteristics affect this relationship, finding that both the presence of an experienced Chief Technology Officer (CTO) and project transparency negatively moderate the positive relationship between centralization and market value. Thus, decentralized platforms need leaders with technical experience and project transparency to generate more value. Overall, this study provides a better understanding of the boundary conditions that increase the value of (de)centralized governance. This study investigates how different governance structures impact the market value of new blockchain-based ventures that conduct Initial Coin Offerings (ICOs). We explore the roles of centralized and decentralized decision-making and how these structures affect platform performance. Our findings show that centralized governance, where decision-making is concentrated, tends to increase a platform's market value. However, having an experienced Chief Technology Officer (CTO) and clear project transparency can reduce the reliance on centralization. This implies that decentralized platforms can also achieve high market value if they have transparent processes and skilled leaders who can manage the technical aspects. The primary implication for practice is that new blockchain platforms should focus on hiring experienced technical leaders and ensuring transparency in their projects to attract investors and customers.".
- 01J6PCF6BDS80RFV9GR3XWGVTN author FBBFDF98-F0ED-11E1-A9DE-61C894A0A6B4.
- 01J6PCF6BDS80RFV9GR3XWGVTN author urn:uuid:89f088d3-d3df-46ee-a8a9-0a2544ee3d1d.
- 01J6PCF6BDS80RFV9GR3XWGVTN author urn:uuid:cc2aa16a-8d4a-4ad8-9f50-4aeb469ec5f7.
- 01J6PCF6BDS80RFV9GR3XWGVTN author urn:uuid:e0a61e7f-5af2-4262-9e91-af386b820f6b.
- 01J6PCF6BDS80RFV9GR3XWGVTN dateCreated "2024-09-01T08:50:47Z".
- 01J6PCF6BDS80RFV9GR3XWGVTN dateModified "2025-01-07T14:06:48Z".
- 01J6PCF6BDS80RFV9GR3XWGVTN name "(De)centralized governance and the value of platform-based new ventures : the moderating role of teams and transparency".
- 01J6PCF6BDS80RFV9GR3XWGVTN pagination urn:uuid:b7bc343a-d436-4f44-8718-f5089342c387.
- 01J6PCF6BDS80RFV9GR3XWGVTN sameAs LU-01J6PCF6BDS80RFV9GR3XWGVTN.
- 01J6PCF6BDS80RFV9GR3XWGVTN sourceOrganization urn:uuid:71b9a855-799e-4ae2-a2d7-c7c3439810ef.
- 01J6PCF6BDS80RFV9GR3XWGVTN type A1.