Abstract
Although cryptocurrencies have garnered enormous public attention in recent times, extensive fluctuations in their prices have deterred prospective investors. Due to the absence of a centralized valuation authority, the credibility of cryptocurrencies as a viable investment vehicle remains elusive. Building on attention theory, this study posits that prospective investors of cryptocurrencies are likely to search online for information before deciding whether to make a commitment. We hence investigate the effects of Google search on the return and risk of 268 cryptocurrencies over 181 trading days. Results indicate that the Google Search Volume Index (SVI) of a given cryptocurrency exerts significant and positive impact on its price and turnover.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of the 39th International Conference on Information Systems (ICIS) |
| Number of pages | 9 |
| Place of Publication | Atlanta, GA |
| Publisher | Association for Information Systems. AIS Electronic Library (AISeL) |
| Publication date | 2018 |
| ISBN (Electronic) | 9780996683173 |
| Publication status | Published - 2018 |
| Event | 39th International Conference on Information Systems, ICIS 2018: Bridging the Internet of People, Data, and Things - San Francisco, United States Duration: 13 Dec 2018 → 16 Dec 2018 Conference number: 39 https://icis2018.aisconferences.org/ |
Conference
| Conference | 39th International Conference on Information Systems, ICIS 2018 |
|---|---|
| Number | 39 |
| Country/Territory | United States |
| City | San Francisco |
| Period | 13/12/2018 → 16/12/2018 |
| Internet address |
| Series | Proceedings of the International Conference on Information Systems |
|---|---|
| ISSN | 0000-0033 |
Keywords
- Cryptocurrency
- Attention economy
- Google search
- Return
- Risk