TY - JOUR
T1 - Blockchain technology and environmental efficiency
T2 - Evidence from US-listed firms
AU - Tawiah, Vincent
AU - Zakari, Abdulrasheed
AU - Li, Guo
AU - Kyiu, Anthony
N1 - Publisher Copyright:
© 2022 ERP Environment and John Wiley & Sons Ltd.
PY - 2022/12
Y1 - 2022/12
N2 - This study examines the relationship between the adoption of blockchain technology and environmental efficiency by using a sample of US firms over the 2015–2019 period. Our results indicate that the adoption of blockchain technology is positively and significantly associated with environmental efficiency, suggesting that blockchain improves environmental sustainability. In further analyses, we determine that the relationship between blockchain and environmental efficiency is more pronounced for firms in financial and technological industries than for those in other industries. Our findings are also robust to other methods that control for endogeneity, including difference in difference regressions and propensity score matching. Overall, we provide empirical evidence to incentivize business leaders and policymakers to adopt innovative technologies, such as blockchain.
AB - This study examines the relationship between the adoption of blockchain technology and environmental efficiency by using a sample of US firms over the 2015–2019 period. Our results indicate that the adoption of blockchain technology is positively and significantly associated with environmental efficiency, suggesting that blockchain improves environmental sustainability. In further analyses, we determine that the relationship between blockchain and environmental efficiency is more pronounced for firms in financial and technological industries than for those in other industries. Our findings are also robust to other methods that control for endogeneity, including difference in difference regressions and propensity score matching. Overall, we provide empirical evidence to incentivize business leaders and policymakers to adopt innovative technologies, such as blockchain.
KW - blockchain technology
KW - carbon emissions
KW - environmental efficiency
KW - environmental sustainability
UR - http://www.scopus.com/inward/record.url?scp=85126269840&partnerID=8YFLogxK
U2 - 10.1002/bse.3030
DO - 10.1002/bse.3030
M3 - Article
AN - SCOPUS:85126269840
SN - 0964-4733
VL - 31
SP - 3757
EP - 3768
JO - Business Strategy and the Environment
JF - Business Strategy and the Environment
IS - 8
ER -