Abstract:
The aim of this study is to examine the factors affecting investors who will invest in an initial coin offering (ICO). The population in this study is a group of 629 investors who currently invest in financial instruments such as bonds, stocks and mutual funds. The data was gathered via an online questionnaire by random selection sampling, and then canonical correlation analysis was used for the hypothesis test. The conclusions based on canonical weights between sets of independent and dependent variables for investing in an initial coin offering in Thailand show that canonical correlation values are .782, .652, .603, .517 and .327 respectively. Only the canonical correlation values of 0.30 and over were taken into consideration as having statistical significance. The relationship between the sets of dependent variables has statistical significance at the level of 0.01. Regarding policy suggestions, investors who are interested in investing in an initial coin offering or ICO should understand the rules and risks thoroughly before investing. In addition, other factors such as the readiness for ICO in Thailand and whether foreign investors are interested in investing in an ICO in Thailand might be taken into account in further studies.