Blockchain Technology and Corporate Performance: Empirical Evidence from Listed Companies in China

Jie Zhang and Chen Ruan ()
Additional contact information
Jie Zhang: School of Business, Hohai University, Nanjing 211100, China
Chen Ruan: School of Business, Hohai University, Nanjing 211100, China

Sustainability, 2024, vol. 16, issue 21, 1-18

Abstract: Blockchain technology is widely recognized and adopted by many organizations, as it serves as a fundamental technological infrastructure for the digital economy. This has led to a rapid acceleration of industrial transformation and digital innovation. This study employs empirical data from a substantial sample to investigate the potential applications, strategies, and advantages of blockchain technology. This paper examines A-share listed companies in China from 2015 to 2021, offering valuable empirical insights that demonstrate how the implementation of blockchain technology can markedly improve corporate performance in a major global economy. The research in this paper examines the differential effects of blockchain technology by innovatively integrating financial and environmental performance metrics into an empirical model, revealing that implementing blockchain technology significantly enhances environmental performance. Furthermore, it has been observed that blockchain technology adoption can contribute to corporate performance by improving information transparency. It is worth noting that blockchain technology’s influence on enterprises’ performance exhibits discernible variations based on the ownership structure, environmental sensitivity, and technical features of said enterprises. This paper can be used as a guide for enterprises looking to implement blockchain technology and for governments seeking to develop digitalization legislation.

Keywords: blockchain technology; financial performance; environmental performance; information transparency (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/2071-1050/16/21/9177/pdf (application/pdf)
https://www.mdpi.com/2071-1050/16/21/9177/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:16:y:2024:i:21:p:9177-:d:1504449

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().