{"id":"https://openalex.org/W4392878347","doi":"https://doi.org/10.1016/j.ribaf.2024.102333","title":"Anticipatory gains and event-driven losses in blockchain-based fan tokens: Evidence from the FIFA World Cup","display_name":"Anticipatory gains and event-driven losses in blockchain-based fan tokens: Evidence from the FIFA World Cup","publication_year":2024,"publication_date":"2024-03-16","ids":{"openalex":"https://openalex.org/W4392878347","doi":"https://doi.org/10.1016/j.ribaf.2024.102333"},"language":"en","primary_location":{"id":"doi:10.1016/j.ribaf.2024.102333","doi":"https://doi.org/10.1016/j.ribaf.2024.102333","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.ribaf.2024.102333","pdf_url":null,"source":{"id":"https://openalex.org/S8133038","display_name":"Research in International Business and Finance","issn_l":"0275-5319","issn":["0275-5319","1878-3384"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Research in International Business and Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["arxiv","crossref","datacite"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://doi.org/10.1016/j.ribaf.2024.102333","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5068688584","display_name":"Aman Saggu","orcid":"https://orcid.org/0000-0003-2784-4353","observed_orcids":["https://orcid.org/0000-0003-2784-4353"]},"institutions":[{"id":"https://openalex.org/I25399158","display_name":"Mahidol University","ror":"https://ror.org/01znkr924","country_code":"TH","type":"education","lineage":["https://openalex.org/I25399158"]}],"countries":["TH"],"is_corresponding":true,"raw_author_name":"Aman Saggu","raw_affiliation_strings":["Blockchain Research Lab","Business Administration Division, Mahidol University International College"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Blockchain Research Lab","institution_ids":[]},{"raw_affiliation_string":"Business Administration Division, Mahidol University International College","institution_ids":["https://openalex.org/I25399158"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5034620178","display_name":"Lennart Ante","orcid":"https://orcid.org/0000-0002-5088-7127","observed_orcids":["https://orcid.org/0000-0002-5088-7127"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Lennart Ante","raw_affiliation_strings":["Blockchain Research Lab"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Blockchain Research Lab","institution_ids":[]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5078880859","display_name":"Ender Demir","orcid":"https://orcid.org/0000-0003-4034-269X","observed_orcids":["https://orcid.org/0000-0003-4034-269X"]},"institutions":[{"id":"https://openalex.org/I123185442","display_name":"Reykjav\u00edk University","ror":"https://ror.org/05d2kyx68","country_code":"IS","type":"education","lineage":["https://openalex.org/I123185442"]}],"countries":["IS"],"is_corresponding":false,"raw_author_name":"Ender Demir","raw_affiliation_strings":["Department of Business Administration, Reykjavik University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Business Administration, Reykjavik University","institution_ids":["https://openalex.org/I123185442"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5068688584"],"corresponding_institution_ids":["https://openalex.org/I25399158"],"apc_list":{"value":3370,"currency":"USD","value_usd":3370},"apc_paid":{"value":3370,"currency":"USD","value_usd":3370},"fwci":6.0096,"has_fulltext":true,"cited_by_count":17,"citation_normalized_percentile":{"value":0.96166062,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":97,"max":99},"biblio":{"volume":"70","issue":null,"first_page":"102333","last_page":"102333"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9785000085830688,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9785000085830688,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.010300000198185444,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11674","display_name":"Sports Analytics and Performance","score":0.008799999952316284,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/fifa-world-cup","display_name":"FIFA World Cup","score":0.7760000228881836},{"id":"https://openalex.org/keywords/anticipatory-effects","display_name":"anticipation effects","score":0.746999979019165},{"id":"https://openalex.org/keywords/event-study","display_name":"event study","score":0.39399999380111694},{"id":"https://openalex.org/keywords/trading-volume","display_name":"trading volume","score":0.671999990940094},{"id":"https://openalex.org/keywords/match-outcome","display_name":"match outcome","score":0.5860000252723694},{"id":"https://openalex.org/keywords/investor-sentiment","display_name":"investor sentiment","score":0.8339999914169312},{"id":"https://openalex.org/keywords/cognitive-bias","display_name":"cognitive biases","score":0.8619999885559082},{"id":"https://openalex.org/keywords/fan-engagement","display_name":"fan engagement","score":0.5199999809265137}],"concepts":[{"id":"https://openalex.org/C2779687700","wikidata":"https://www.wikidata.org/wiki/Q20514253","display_name":"Blockchain","level":2,"score":0.8477498292922974},{"id":"https://openalex.org/C2779662365","wikidata":"https://www.wikidata.org/wiki/Q5416694","display_name":"Event (particle physics)","level":2,"score":0.5922825336456299},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.43573197722435},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.40392935276031494},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3771330714225769},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.37531018257141113},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.29656970500946045},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0}],"mesh":[],"locations_count":6,"locations":[{"id":"doi:10.1016/j.ribaf.2024.102333","doi":"https://doi.org/10.1016/j.ribaf.2024.102333","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.ribaf.2024.102333","pdf_url":null,"source":{"id":"https://openalex.org/S8133038","display_name":"Research in International Business and Finance","issn_l":"0275-5319","issn":["0275-5319","1878-3384"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Research in International Business and Finance","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.4770046","doi":"https://doi.org/10.2139/ssrn.4770046","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.4770046","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},{"id":"pmh:oai:RePEc:arx:papers:2403.15810","doi":null,"is_oa":false,"landing_page_url":"http://arxiv.org/pdf/2403.15810","pdf_url":"http://arxiv.org/pdf/2403.15810","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:arXiv.org:2403.15810","doi":null,"is_oa":true,"landing_page_url":"http://arxiv.org/abs/2403.15810","pdf_url":"https://arxiv.org/pdf/2403.15810","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},{"id":"pmh:oai:RePEc:eee:riibaf:v:70:y:2024:i:pa:s0275531924001260","doi":null,"is_oa":false,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0275531924001260","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"doi:10.48550/arxiv.2403.15810","doi":"https://doi.org/10.48550/arxiv.2403.15810","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2403.15810","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article-journal"}],"best_oa_location":{"id":"doi:10.1016/j.ribaf.2024.102333","doi":"https://doi.org/10.1016/j.ribaf.2024.102333","is_oa":true,"landing_page_url":"https://doi.org/10.1016/j.ribaf.2024.102333","pdf_url":null,"source":{"id":"https://openalex.org/S8133038","display_name":"Research in International Business and Finance","issn_l":"0275-5319","issn":["0275-5319","1878-3384"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Research in International Business and Finance","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":54,"referenced_works":["https://openalex.org/W74101598","https://openalex.org/W1504392006","https://openalex.org/W1860651644","https://openalex.org/W1970517215","https://openalex.org/W2016974026","https://openalex.org/W2033556073","https://openalex.org/W2033910434","https://openalex.org/W2047161399","https://openalex.org/W2056872839","https://openalex.org/W2067168181","https://openalex.org/W2071351640","https://openalex.org/W2078141903","https://openalex.org/W2114303487","https://openalex.org/W2130162792","https://openalex.org/W2134183765","https://openalex.org/W2141051243","https://openalex.org/W2145830184","https://openalex.org/W2170011049","https://openalex.org/W2322979667","https://openalex.org/W2326709869","https://openalex.org/W2609556155","https://openalex.org/W2811170310","https://openalex.org/W2945425436","https://openalex.org/W2981167869","https://openalex.org/W2985545178","https://openalex.org/W2991054080","https://openalex.org/W3012806606","https://openalex.org/W3094389822","https://openalex.org/W3124197164","https://openalex.org/W3124928227","https://openalex.org/W3125787118","https://openalex.org/W3128721486","https://openalex.org/W4212818423","https://openalex.org/W4212857380","https://openalex.org/W4213229695","https://openalex.org/W4231546411","https://openalex.org/W4243313588","https://openalex.org/W4252684946","https://openalex.org/W4283516253","https://openalex.org/W4302773506","https://openalex.org/W4306956710","https://openalex.org/W4309880828","https://openalex.org/W4327955628","https://openalex.org/W4366980326","https://openalex.org/W4367359547","https://openalex.org/W4376224208","https://openalex.org/W4388249092","https://openalex.org/W4389166049","https://openalex.org/W4390701278","https://openalex.org/W4390753191","https://openalex.org/W4391070160","https://openalex.org/W4391451785","https://openalex.org/W4394718570","https://openalex.org/W6941177633"],"related_works":["https://openalex.org/W4390701278","https://openalex.org/W7130927796","https://openalex.org/W4408084081","https://openalex.org/W4388249092","https://openalex.org/W4366980326","https://openalex.org/W7130700728","https://openalex.org/W4213229695","https://openalex.org/W7220463130","https://openalex.org/W7128913524","https://openalex.org/W7214262524"],"abstract_inverted_index":{"National":[0],"football":[1],"teams":[2],"increasingly":[3],"issue":[4],"tradeable":[5],"blockchain-based":[6],"fan":[7,12,31,37,59,86],"tokens":[8],"to":[9,90],"strategically":[10],"enhance":[11,101],"engagement.":[13],"This":[14],"study":[15,35],"investigates":[16],"the":[17,25,44,119,124,127,138],"impact":[18],"of":[19,28,58,140],"2022":[20],"World":[21,45],"Cup":[22],"matches":[23,69,81],"on":[24,113],"dynamic":[26],"performance":[27,145],"each":[29],"team's":[30],"token.":[32],"The":[33],"event":[34],"uncovers":[36],"token":[38,60,87],"returns":[39,61],"surged":[40],"six":[41],"months":[42],"before":[43],"Cup,":[46],"driven":[47],"by":[48],"positive":[49,111],"anticipation":[50],"effects.":[51],"However,":[52],"intraday":[53],"analysis":[54],"reveals":[55],"a":[56,83,109],"reversal":[57],"consistently":[62],"declining":[63],"and":[64,132,143],"trading":[65,102],"volumes":[66],"rising":[67],"as":[68],"unfold.":[70],"To":[71],"explain":[72],"findings,":[73],"we":[74],"uncover":[75],"asymmetries":[76],"whereby":[77],"defeats":[78],"in":[79,85,94,134],"high-stake":[80],"caused":[82],"plunge":[84],"returns,":[88],"compared":[89],"low-stake":[91],"matches,":[92],"intensifying":[93],"magnitude":[95],"for":[96],"knockout":[97],"matches.":[98],"Contrarily,":[99],"victories":[100],"volumes,":[103],"reflecting":[104],"increased":[105],"market":[106,121],"activity":[107],"without":[108],"corresponding":[110],"effect":[112],"returns.":[114],"We":[115],"align":[116],"findings":[117],"with":[118],"classic":[120],"adage":[122],"\"buy":[123],"rumor,":[125],"sell":[126],"news,\"":[128],"unveiling":[129],"cognitive":[130],"biases":[131],"nuances":[133],"investor":[135],"sentiment,":[136],"cautioning":[137],"dichotomy":[139],"pre-event":[141],"optimism":[142],"subsequent":[144],"declines.":[146]},"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":7},{"year":2024,"cited_by_count":4}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2024-03-17T00:00:00"}
