Fear sells: On the sentiment deceptions and fundraising success of initial coin offerings

We gratefully acknowledge the Project Research Grant (Grant no. 190405) by the Foundation for Economic Education (LIIKESIVISTYSRAHASTO), Finland. We would like to thank the discussant Professor Gonul Colak, and other participants at the Summer Workshop 2021 for providing us insightful comments to our paper (the Summer Workshop 2021 was organized by Aalto University in association with the Graduate School of Finance (GSF), Helsinki, Finland). We are also grateful to the discussant and the participants of the World Finance Conference (University of Agder, Norway (Virtual), August 3-6, 2021) for providing us useful and encouraging comments. We also received useful comments from the participants of the Cryptocurrency Research Conference 2021 (September 16-17, 2021, organized by the University of Southampton, UK and ICMA Centre, UK). Moreover, we also received insightful and encouraging comments from the participants of the IRMC 2021 (14th Edition October 1-2, 2021, organized by the Risk Banking and Finance Society, in collaboration with the University of Florence, NYU Stern Salomon Center, USA along with the co-organizer Joint Research Centre (JRC)-European Commission and the host institution, the University of Cagliari, Italy). Furthermore, we are thankful to Professor John Paul Broussard University of Oklahoma, Price College of Business, Finance and Professor John Goodell University of Akron, College of Business, Finance for providing us useful feedback.