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KODAKCoin: a blockchain revolution or exploiting a potential cryptocurrency bubble?

KODAKCoin: a blockchain revolution or exploiting a potential cryptocurrency bubble?
KODAKCoin: a blockchain revolution or exploiting a potential cryptocurrency bubble?
Eastman Kodak is an American technology company that produces imaging products. In 2018, it announced its intentions to enter the crytpocurrency market, raising concerns that it could be taking advantage of a potential cryptocurrency bubble for short-term gains. We analyse the relationships between Kodak, crytocurrency and stock market index returns. We find evidence of a significant, sustained increase in both the share price and price volatility of Kodak after the KODAKCoin announcement, with an increased correlation between the price of Kodak shares and Bitcoin.
cryptocurrencies, Bitcoin, fintech
1350-4851
2-7
Yarovaya, Larisa
2bd189e8-3bad-48b0-9d09-5d96a4132889
Corbet, Shaen
8a3e20b1-891b-4102-82f2-e2c39a7a1d59
Lucey, Brian
ea62416d-8886-4acd-b160-f653aea6c319
Larkin, Charles
860cc648-ea70-4c86-9126-8b7bd8720847
Yarovaya, Larisa
2bd189e8-3bad-48b0-9d09-5d96a4132889
Corbet, Shaen
8a3e20b1-891b-4102-82f2-e2c39a7a1d59
Lucey, Brian
ea62416d-8886-4acd-b160-f653aea6c319
Larkin, Charles
860cc648-ea70-4c86-9126-8b7bd8720847

Yarovaya, Larisa, Corbet, Shaen, Lucey, Brian and Larkin, Charles (2019) KODAKCoin: a blockchain revolution or exploiting a potential cryptocurrency bubble? Applied Economics Letters, 2-7. (doi:10.1080/13504851.2019.1637512).

Record type: Article

Abstract

Eastman Kodak is an American technology company that produces imaging products. In 2018, it announced its intentions to enter the crytpocurrency market, raising concerns that it could be taking advantage of a potential cryptocurrency bubble for short-term gains. We analyse the relationships between Kodak, crytocurrency and stock market index returns. We find evidence of a significant, sustained increase in both the share price and price volatility of Kodak after the KODAKCoin announcement, with an increased correlation between the price of Kodak shares and Bitcoin.

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Published date: 4 July 2019
Keywords: cryptocurrencies, Bitcoin, fintech

Identifiers

Local EPrints ID: 432658
URI: http://eprints.soton.ac.uk/id/eprint/432658
ISSN: 1350-4851
PURE UUID: fb00c66d-9227-48d5-8593-b600daf12600
ORCID for Larisa Yarovaya: ORCID iD orcid.org/0000-0002-9638-2917

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Date deposited: 23 Jul 2019 16:30
Last modified: 28 Apr 2022 06:08

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Contributors

Author: Larisa Yarovaya ORCID iD
Author: Shaen Corbet
Author: Brian Lucey
Author: Charles Larkin

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