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Elias Bengtsson
Senior lecturer
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Are cryptocurrencies homogeneous?
Author
Summary, in English
This article investigates if cryptocurrencies returns' are similarly affected by a selection of demand- and supply-side determinants. Homogeneity among cryptocurrencies is tested via a least absolute shrinkage and selection operator (LASSO) model where determinants of Bitcoin returns are applied to a sample of 12 cryptocurrencies. The analysis goes beyond existing research by simultaneously covering different periods and design choices of cryptocurrencies. The results show that cryptocurrencies are heterogeneous, apart from some similarities in the impact of technical determinants and cybercrime. The cryptocurrency market displays evidence of substitution effects, and design choices related explain the impact of the determinants of return.
Department/s
- Accounting and Corporate Finance
Publishing year
2023
Language
English
Publication/Series
European Financial Management
Volume
29
Issue
1
Document type
Journal article
Publisher
Wiley-Blackwell
Topic
- Business Administration
Status
Published
ISBN/ISSN/Other
- ISSN: 1354-7798