In this paper, we examine the relationship between the adoption of blockchain technology and environmental efficiency using a sample of U.S. firms over the 2015-2019 period. Our results show that the adoption of blockchain technology is positively and significantly associated with environmental efficiency, suggesting that the use of Blockchain improves environmental sustainability. In further analyses, we find that the relationship between Blockchain and environmental efficiency is more pronounced for firms in the financial and technological industries. Our findings are also robust to other methods that control for endogeneity, including the difference in difference regressions and Propensity Score Matching. Overall, we provide empirical evidence that can incentivize business leaders and policymakers to adopt innovative technologies such as Blockchain.
National Natural Science Foundation of China under the grant nos. 71971027, 91746110 and 71521002, Beijing Philosophy and Social Science Foundation under the grant no.19JDGLB017; the Special Items Fund of Beijing Municipal Commission of Education.
ID Code:
28215
Deposited On:
05 Apr 2023 12:00 by Vincent Tawiah. Last Modified 05 Apr 2023 14:29
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