Curtin University Homepage
  • Library
  • Help
    • Admin

    espace - Curtin’s institutional repository

    JavaScript is disabled for your browser. Some features of this site may not work without it.
    View Item 
    • espace Home
    • espace
    • Curtin Research Publications
    • View Item
    • espace Home
    • espace
    • Curtin Research Publications
    • View Item

    Bitcoin forks: What drives the branches?

    Access Status
    In process
    Authors
    Conlon, T.
    Corbet, S.
    Hou, Y.
    Hu, Y.
    Oxley, Leslie
    Date
    2024
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Conlon, T. and Corbet, S. and Hou, Y. and Hu, Y. and Oxley, L. 2024. Bitcoin forks: What drives the branches? Research in International Business and Finance. 69.
    Source Title
    Research in International Business and Finance
    DOI
    10.1016/j.ribaf.2024.102261
    ISSN
    0275-5319
    Faculty
    Faculty of Business and Law
    School
    School of Accounting, Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/97468
    Collection
    • Curtin Research Publications
    Abstract

    Despite frequent Blockchain splits stemming from Bitcoin, few studies have examined the determinants of Bitcoin fork returns. In this paper, we investigate the relationships between the returns of Bitcoin forks and a range of common risk factors, including Bitcoin, currency, network and equity-based factors. From a statistical perspective, we find consistent and significant associations between fork returns, their Bitcoin counterparts, and equity markets. Other common factors, such as the equity small-minus-big factor and changes in the Japanese Yen, are found to have occasional links with fork returns. From an economic perspective, Bitcoin returns are the predominant driver of fork returns, accounting for essentially all of the explained variation. These findings are confirmed using orthogonalised common factors and with an alternative methodology, quantile regression. This research broadens our understanding of Bitcoin forks, indicating that a change in blockchain protocol is insufficient to sever links with the Bitcoin parent.

    Related items

    Showing items related by title, author, creator and subject.

    • 'What if you live on top of a bakery and you like cakes?' - Drug use and harm trajectories before, during and after the emergence of Silk Road
      Barratt, Monica; Lenton, Simon; Maddox, A.; Allen, Matthew (2015)
      Background: Cryptomarkets are digital platforms that use anonymising software (e.g. Tor) and cryptocurrencies (e.g. Bitcoin) to facilitate peer-to-peer (P2P) trade of goods and services. Their emergence has facilitated ...
    • Investor Sentiment, Unexpected Inflation, and Bitcoin Basis Risk
      Conlon, T.; Corbet, S.; Oxley, Leslie (2024)
      The introduction of regulated CME futures contracts on Bitcoin in 2017 raised an expectation that cryptocurrencies would become part of mainstream financial markets. This also heightened links between traditional markets ...
    • Cancer prevention and therapy through the modulation of transcription factors by bioactive natural compounds
      Shanmugam, M.; Lee, J.; Chai, E.; Kanchi, M.; Kar, S.; Arfuso, Frank; Dharmarajan, A.; Kumar, A.; Ramar, P.; Looi, C.; Mustafa, M.; Tergaonkar, V.; Bishayee, A.; Ahn, K.; Sethi, G. (2015)
      The association between chronic inflammation and cancer development has been well documented. One of the major obstacles in cancer treatment is the persistent autocrine and paracrine activation of pro-inflammatory ...
    Advanced search

    Browse

    Communities & CollectionsIssue DateAuthorTitleSubjectDocument TypeThis CollectionIssue DateAuthorTitleSubjectDocument Type

    My Account

    Admin

    Statistics

    Most Popular ItemsStatistics by CountryMost Popular Authors

    Follow Curtin

    • 
    • 
    • 
    • 
    • 

    CRICOS Provider Code: 00301JABN: 99 143 842 569TEQSA: PRV12158

    Copyright | Disclaimer | Privacy statement | Accessibility

    Curtin would like to pay respect to the Aboriginal and Torres Strait Islander members of our community by acknowledging the traditional owners of the land on which the Perth campus is located, the Whadjuk people of the Nyungar Nation; and on our Kalgoorlie campus, the Wongutha people of the North-Eastern Goldfields.