Blockchain technology and environmental efficiency: Evidence from US-listed firms

Tawiah, V; Li, G; Zakari, A; Kyiu, A

Abstract

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.

Citation

Tawiah, V., Li, G., Zakari, A., & Kyiu, A. (2022). Blockchain technology and environmental efficiency: Evidence from US-listed firms. Business Strategy and the Environment, 31(8), 3757-3768. https://doi.org/10.1002/bse.3030

• Journal Article Type: Article
• Acceptance Date: Sep 17, 2021
• Online Publication Date: Mar 15, 2022
• Publication Date: 2022-12
• Deposit Date: Mar 2, 2022
• Publicly Available Date: Mar 16, 2024
• Journal: Business Strategy and the Environment
• Print ISSN: 0964-4733
• Electronic ISSN: 1099-0836
• Publisher: ERP Environment
• Peer Reviewed: Peer Reviewed
• Volume: 31
• Issue: 8
• Pages: 3757-3768
• DOI: https://doi.org/10.1002/bse.3030
• Public URL: https://durham-repository.worktribe.com/output/1212835