By analyzing data of more than 1,000 initial coin offerings (ICOs) obtained from seven different ICO information platforms, we investigate the effectiveness of signals used by entrepreneurs to foster ICO funding success. In particular, we examine the effectiveness of venture quality (human...

We investigate if homophily—peoples’ affinity for similar others—is an issue in online investment, too. Drawing on nearly 22,000 loan applications and 54,000 investments obtained from one of the leading online peer-to-peer lending platforms in Europe, we document strong evidence in support...