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Blockchain applications: promotion of green innovation

Xing Fang (College of Economics, Sichuan Agricultural University – Chengdu Campus, Chengdu, China)
Yuansheng Jiang (College of Economics, Sichuan Agricultural University, Chengdu, China)

Management Decision

ISSN: 0025-1747

Article publication date: 16 August 2024

116

Abstract

Purpose

This paper aims to address the gaps in current research by exploring how blockchain technology influences corporate green innovation.

Design/methodology/approach

This study investigates the potential of blockchain technology to stimulate the green innovation of companies using the difference-in-difference model with a panel data set of 1,803 Chinese listed companies from 2012 to 2019.

Findings

The application of blockchain significantly increases the number of green invention patents obtained by companies but has no significant impact on green utility model patents, that is, blockchain applications improve the quality rather than the quantity of green innovation. The role of blockchain in promoting green innovation is particularly pronounced in state-owned enterprises, non-heavily polluting industries and older companies. The use of blockchain technology helps reduce sales costs and boosts research and development investments, thereby encouraging green innovation. Additionally, a company’s internal control quality plays a moderating effect.

Originality/value

Firstly, previous research on blockchain has primarily centered on its relationship with supply chain management. This article empirically tests the impact of blockchain applications on the green innovation of companies using the DID method. Secondly, current studies mainly explore the influencing factors on green invention patents. This article examines the impact of blockchain applications on both green invention patents and green utility model patents and identifies distinct influencing effects. Finally, this article introduces the internal control mechanism of enterprises into the DID model and explores the potential impact of the quality of internal control on the relationship between blockchain and green innovation.

Keywords

Acknowledgements

This study is supported by the National Natural Science Foundation of China (Grant No. 72303167).

Citation

Fang, X. and Jiang, Y. (2024), "Blockchain applications: promotion of green innovation", Management Decision, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/MD-08-2023-1452

Publisher

:

Emerald Publishing Limited

Copyright © 2024, Emerald Publishing Limited

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