Non-fungible tokens (NFTs) can be used to represent ownership of digital art or any other unique digital item where ownership is recorded in smart contracts on a blockchain. NFTs have recently received enormous attention from both cryptocurrency investors and the media. We examine why NFTs have gotten so much attention. Using vector autoregressive models, we show that Bitcoin returns significantly predict next week’s NFT growth in popularity, measured by Google search queries. Moreover, wavelet coherence analysis suggests that Bitcoin and Ether returns are significant drivers of next week’s attention to NFTs. These results indicate that the remarkable increases in prices of major cryptocurrencies can explain the hype around NFTs.
ArticleFusiones y adquisiciones en Latinoamérica, gobierno corporativo y modelo gravitacional ଝ información del artículo Historia del artículo: Recibido el 8 de agosto de 2014 Aceptado el 9 de octubre de 2014Palabras clave: Fusiones y adquisiciones Gobierno corporativo Modelo gravitacional r e s u m e n En el presente estudio se analiza si la actividad de fusiones y adquisiciones (M&A, por su sigla en inglés) transnacionales está influenciada por los estándares de gobierno corporativo de los países. Para lograrlo, se recurre al modelo gravitacional. Se toma la actividad proveniente de países de la Organización para la Cooperación y el Desarrollo Económicos (OECD, por su sigla en inglés) y dirigida hacia seis países latinoamericanos y, como medida de gobierno corporativo, se usan los indicadores de Kaufmann, entre otros. Se encontró que el modelo gravitacional es explicativo del fenómeno y que a mejores estándares de gobierno corporativo en el país de origen y en el país de destino, mayor es la actividad de M&A.
a b s t r a c tIn this study, and by making use of a gravity model, an analysis is made on whether transnational mergers and acquisitions (M&A) are influenced by the corporate governance standards of a country. The study only focuses on the M&A flows from the OECD countries towards Latinamerican economies, as well as using the Kaufmann indicators for measuring, among others, the corporate governance of a country. Evidence is found that the gravity model is explicative of the M&A flows, and that the better the level of corporate governance at both origin and destination countries, the greater is the M&As activity.
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