(2018) Fisch and Momtaz (2020) Guzmán et al. (2021) Investors' restrictions (KYC) Country restriction Amsden and Schweizer (2018) Blaseg (2018) Burns and Moro (2018) Davydiuk et al. (2021) Blaseg (2018) Benedetti and Kostovetsky (2018) Boreiko and Risteski (2020) Chen (2019) Giudici and Adhami (2019) Guzmán et al. (2020) Sharma and Zhu (2020) Shrestha et al. (2019) Fisch and Momtaz (2020) Giudici and Adhami (2019) Guzmán et al. (2021) Amsden and Schweizer(2018) Blaseg (2018) Belitski and Benedetti and Kostovetsky (2018) Boreiko (2021) Boreiko and Risteski (2020) Burns and Moro (2018) Davydiuk et al. (2021) Hackober and Bock (2021) Johnson and Yi (2019) Momtaz (2020b) Roosenboom et al. (2021) Amsden and Schweizer (2018) Burns and Moro (2018) Chen (2019) Feng et al. (2019) Survival of the project Ahmad et al. (2019) Employment growth of the funded business Howell et al. (2021) Actual product development Davydiuk et al. (2021) Fisch and Momtaz (2020) Sharma and Zhu (2020) Shrestha et al. (2020) Belitski and Boreiko (2021) Liquidity/Volume traded Ahmad et al. (2019) Token volatility Momtaz (2020a) Fisch and Momtaz (2020) The rank of the ICO based on the market capitalization Perez et al. (2021) The number of exchange listing Fisch and Momtaz (2020) Underpricing/Return Amsden and Schweizer (2018) Ante and Meyer (2020) Benedetti and Kostovetsky (2018) Burns and Moro (2018) Chanson et al.
(2018) Fisch and Momtaz (2020) Giudici and Adhami (2019) Johnson and Yi (2019) Roosenboom et al. (2018) Sharma and Zhu (2020) Number of investors Belitski and Boreiko (2021) Boreiko and Risteski (2020) Duration of ICO Fisch and Momtaz (2020) Post-ICO launching Listing on a crypto-exchange Amsden and Schweizer (2018) Belitski and Boreiko (2021) Blaseg (2018) Boreiko and Risteski (2020) Bourveau et al. (2019) Closing the offering successfully Adhami et al. (2021) Exceeding the soft cap Bourveau et al. (2020) Reaching the soft cap Ahmad et al. (2021) Belitski and Boreiko (2021) Boreiko and Risteski (2020) Reaching a percentage of the hard cap Davydiuk et al. (2021) Reaching the hard cap Ahmad et al. ) Roosenboom (2020) Samieifar and Baur (2020) Shrestha et al.
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