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【明理讲堂2021年第47期】10-13美国佛罗里达大学邱凉飞副教授:The Impact of Open-Source Community on Cryptocurrency Market Price: An Empirical Investigation

报告人:美国佛罗里达大学 邱凉飞 副教授

时间:2021年10月13日 上午9:00-10:30

会议号:腾讯会议253 986 664


The cryptocurrency market has experienced substantial growth in recent years. Investment in cryptocurrencies has soared rapidly, surpassing $2 trillion as of August 21, 2021. However, the factors that impact the price dynamics of this new type of instrument have not been fully identified yet. In this study, we examine the impact of software advancement through open-source platforms on the price dynamics of cryptocurrencies. Using data from cryptocurrency listing websites and GitHub, the largest open-source software (OSS) platform, we find that open-source activities that signal the popularity of a project play a significant role in the price movement of cryptocurrency. In particular, an increased number of forks (the number of times the crypto coin code has been copied) and watches on GitHub signals to the investors about quality changes that were made to the code, and the market price increases eventually. We also uncover how the type of cryptographic algorithm moderates the impact of open-source activities. Our findings have direct implications for investors, OSS platforms, and policymakers.


Liangfei Qiu is the PricewaterhouseCoopers Associate Professor and University Term Professor in the Department of Information Systems and Operations Management, Warrington College of Business, University of Florida. He received his Ph.D. in 2014 from the University of Texas at Austin. His current research focuses on prediction markets, social networks and social media platforms, telecommunications networks, and economics of information systems. His research has appeared in premier academic journals, such as Information Systems Research, MIS Quarterly, Production and Operations Management, Journal of Management Information Systems, and Decision Support Systems. He received the INFORMS Information Systems Society Sandy Slaughter Early Career Award and Association for Information Systems (AIS) Early Career Award in 2019. He serves on the editorial board of MIS Quarterly as an Associate Editor, Production and Operations Management as a Senior Editor, and Decision Support Systems as an Associate Editor.