The impact of bullet points on fundraising success : analyzing the relationship between structural readability and ICO outcomes

Details

Supervisors

Thewissen, James

Faculty

Louvain School of Management

Degree label

Master [120] en sciences de gestion, à finalité spécialisée

Abstract

This study investigates the impact of structural readability, particularly the use of bullet points, on the success of fundraising through Initial Coin Offerings (ICOs). Given the complex and technical nature of ICO whitepapers, this research aims to determine how the presentation of information affects potential investor understanding and investment decisions. Utilizing a mixed-methods approach, we analyzed 1300 ICO whitepapers to assess variations in the amount raised based on the clarity and structure of the presented information. Our findings indicate that whitepapers employing bullet points effectively see a statistically significant increase in funds raised, highlighting the importance of concise and well-organized information in facilitating investor comprehension and trust. This study contributes to the existing literature by demonstrating that simple structural changes in how information is presented can significantly impact the financial outcomes of ICOs. The results not only underscore the role of readability in investor decision-making but also suggest practical approaches for ICO issuers to optimize their whitepapers to attract more investment.