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Marko Sarstedt, Monika Imschloss & Susanne Adler, Multisensory Design of Retail Environments - Vision, Sound, and Scent, Springer, 2024
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Benedek, B. & Nagy, B.Z. (2025) Financial Innovation [Core Economics, Q1]

Autor: Cristina Alexandrina Stefanescu

Publicat: 09 Ianuarie 2025


Benedek, B. & Nagy, B.Z. (2025) Asymmetries in factors influencing non-fungible tokens’ (NFTs) returns. Financial Innovation, 11, 28

DOI: https://doi.org/10.1186/s40854-024-00672-w

✓ Publisher: Springer
✓ Categories: Business, Finance; Social Sciences, Mathematical Methods
✓ Article Influence Score (AIS): 1.003 (2023) / Q1 in Business, Finance; Q2 in Social Sciences, Mathematical Methods;

Abstract: The asymmetries of factors influencing the return of cryptocurrencies have already been well documented; however, in the case of NFTs, only information asymmetries and hedging properties related to asymmetries were studied. Therefore, the present study examines factors affecting NFT returns, from market-related factors (crypto- market index return and stock market index return) to the Amihud illiquidity ratio and Google search trends during different market conditions. The wavelet coher- ences-based methodology was applied separately during the boom, bust, normal, and turbulent periods identified by structural breakpoints. based on 14 NFT projects between April 2019 and July 2022, results show two fundamental asymmetries influ- encing these NFT returns. First, there is an asymmetry in the behavior of the factors in different periods; second, there is an asymmetry in how illiquidity manifests itself over NFTs that do or do not possess cash flow-generating potential.



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