Price discovery of cryptocurrencies: Bitcoin and beyond

被引：194
|
作者：
Brauneis, Alexander [1 ]
Mestel, Roland [2 ]
机构：
[1] Alpen Adria Univ Klagenfurt, Dept Finance & Accounting, Univ Str 65-67, A-9020 Klagenfurt, Austria
[2] Karl Franzens Univ Graz, Inst Banking & Finance, Univ Str 15-F2, A-8010 Graz, Austria
来源：
ECONOMICS LETTERS | 2018年 / 165卷
关键词：
Cryptocurrencies; (in-)efficiency; Price discovery; Liquidity; RATIO TEST; MODELS; INEFFICIENCY;
D O I：
10.1016/j.econlet.2018.02.001
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Academic research on cryptocurrencies is almost exclusively directed towards Bitcoin. We extend existing literature by performing various tests on efficiency of several cryptocurrencies and additionally link efficiency to measures of liquidity. Cryptocurrencies become less predictable / inefficient as liquidity increases. (C) 2018 Elsevier B.V. All rights reserved.
引用
收藏
页码：58 / 61
页数：4
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