Blockchain technology and environmental efficiency: Evidence from US‐listed firms. (15th March 2022)

• Record Type: Journal Article
• Authors: Tawiah, Vincent; Zakari, Abdulrasheed; Li, Guo; Kyiu, Anthony
• Other Names: Bai Chunguang guestEditor.; Cordeiro James guestEditor.; Sarkis Joseph guestEditor.
• Is Part Of: Business strategy and the environment. Volume 31:Number 8(2022)
• Page Start: 3757
• Page End: 3768
• Publication Date: 2022-03-15
• Subjects: blockchain technology -- carbon emissions -- environmental efficiency -- environmental sustainability; Industrial management -- Environmental aspects -- Periodicals; Industries -- Environmental aspects -- Periodicals; 658.4083
• DOI: 10.1002/bse.3030
• Languages: English
• ISSNs: 0964-4733

Abstract

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.