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1 – 10 of over 2000
Article
Publication date: 24 February 2021

Krishna Vishwanath Iyer and V.V. Ravi Kumar

This paper aims to propose an innovative blockchain-based system enabling implementation of a bond-pays model in credit rating industry. Issuer-pays model has led to…

Abstract

Purpose

This paper aims to propose an innovative blockchain-based system enabling implementation of a bond-pays model in credit rating industry. Issuer-pays model has led to conflict of interest resulting in rating shopping and inflation. Alternative business models have their own problems, e.g. investor-pays model suffers from “free rider” and public dissemination challenges, whereas government-controlled business models can lead to market distortion. Bond-pays model has been difficult to implement owing to operational difficulties in managing co-ordination amongst multiple entities involved, often with conflicting goals. Blockchain technology enables inter-organizational systems that foster trust amongst non-trusting entities, facilitating business functions such as credit rating to be carried out.

Design/methodology/approach

This paper outlines current processes in credit rating business that has led to repeated rating failures and proposes a new set of processes, leveraging capabilities of blockchain technology to enable implementation of an arms-length bond-pays model.

Findings

A proof-of-concept system, namely, rating chain has been designed to implement a small part of the proposed model to establish technical feasibility in a blockchain environment.

Practical implications

A fully functional blockchain-based system on bond-pays business model, if built and adopted, could impact how credit rating market functions currently and could contribute to a reduction in rating-related challenges.

Originality/value

The proposal to adopt blockchain technologies in implementing a bond-pays model in credit rating industry is a novel contribution.

Open Access
Article
Publication date: 29 October 2021

Mauro Sciarelli, Anna Prisco, Mohamed Hani Gheith and Valerio Muto

The present research aims to identify the determinants for users' behavioral adoption of Blockchain, exploring the relationships among these variables and investigating…

3375

Abstract

Purpose

The present research aims to identify the determinants for users' behavioral adoption of Blockchain, exploring the relationships among these variables and investigating whether the proposed model can provide a more comprehensive manner to understand the adoption of Blockchain technology.

Design/methodology/approach

This study adopts the Technology Acceptance Model (TAM) approach and extends it with external constructs: “reduced cost” and “efficiency and security”. This paper used a quantitative and exploratory approach through the collection and analysis of data from a total of 108 Italian innovative SME. We have used the Partial Least Squares Structural Equation modeling (PLS-SEM) approach using SmartPLS for model evaluation.

Findings

The results show that “efficiency and security” is an important driver of firms' decision-making process to adopt Blockchain. Moreover, the results show that perceived usefulness is a strong predictor of the intention to use Blockchain in business processes.

Originality/value

This research advances the literature on technology adoption in business processes, focusing on a particular technology: Blockchain. The field has been strengthened by investigating the determinants of technology adoption, adding new perspectives; both reduced cost and efficiency, and security.

Details

Journal of Strategy and Management, vol. 15 no. 3
Type: Research Article
ISSN: 1755-425X

Keywords

Article
Publication date: 23 September 2019

Harjit Singh, Geetika Jain, Alka Munjal and Sapna Rakesh

The purpose of this paper is to determine the stakeholders’ acceptance on blockchain and to investigate the model fit by using “Technology Acceptance Model” with special…

1927

Abstract

Purpose

The purpose of this paper is to determine the stakeholders’ acceptance on blockchain and to investigate the model fit by using “Technology Acceptance Model” with special reference to corporate governance through cryptography to resolve the decades-old problems of financial record-keeping.

Design/methodology/approach

The whole analysis has been performed in the two steps, i.e. confirmatory factors analysis and structural equation modeling, to prove model fit between behavioral intention and actual behavior for using blockchain technology. Total 223 respondents have been selected, and the selection of the respondent is primarily on the basis of their previous experience with trading corporate equities.

Findings

The study determines empirically all the mentioned relationships of attitude, perceived ease of use and perceived usefulness with the behavioral intention as per the conceptual model to prove the relationship. The results of the manuscript shows the model fit indexes for various constructs are prove the model fit as per the theorized model. The values of the various indexes are found to be under the permissible range which explains the relationship of various constructs based on the theorized model.

Research limitations/implications

Despite, the limitations in terms of selection of sampling methods, outcome and the interpretation, the results proves the fit with the theoretical framework. The major implication is to understand the real-time use of blockchain technology for the transfer of shares from one party to other.

Practical implications

Stakeholders in corporate governance namely customers, creditors, suppliers, community, employees, owners, investors, trade unions and social activists could benefit in different ways. Investors could benefit from being able to purchase equity at low price and to sell them into a market with greater liquidity, but they would found it difficult to camouflage their trades.

Social implications

The study opines that virtually all aspects of the corporate governance can be improved through the adoption of this technology resulting in greater transparency, improved liquidity and lowering costs.

Originality/value

This study will be a reference for global players in the financial industry that have started investing in this innovative technology vis-à-vis recent announcement of adoption of blockchain by global exchanges including NASDAQ, NYSE and Deutsche Borse, as a new method for trading, tracking ownership and monitoring systemic risk for strengthening corporate governance mechanism. This study will have a significant index for future reference where the technology adoption will be tested to have better corporate governance which will be useful for academics and professionals.

Details

Corporate Governance: The International Journal of Business in Society, vol. 20 no. 1
Type: Research Article
ISSN: 1472-0701

Keywords

Open Access
Article
Publication date: 23 November 2020

Peng Xie, Qiang Chen, Ping Qu, Jianping Fan and Zhijun Tang

This paper aims to systematically expound the theory and development background of supply chain finance and blockchain, design a railway freight supply chain financial…

2321

Abstract

Purpose

This paper aims to systematically expound the theory and development background of supply chain finance and blockchain, design a railway freight supply chain financial platform based on blockchain, determine the risk management system and business support system of supply chain finance business and analyze the value generated by the combination of supply chain finance business and blockchain.

Design/methodology/approach

Investigation and research method; Prototype method; Model method; Value analysis.

Findings

The business model integrating supply chain finance and blockchain technology will bring great changes to freight industry. The development of supply chain finance is beneficial to the healthy development of the core participants of railway freight transport business and its upstream and downstream ecosystems. It links commerce, logistics, warehousing and financial services together and builds an industry-integrated ecological service platform through information technology platform and supporting system, taking data as the basis and combining information technology such as blockchain as innovative means.

Originality/value

This paper will provide important reference value for related research. This paper innovatively designs the supply chain financial platform of freight transportation industry-integrating blockchain technology and analyzes its business model, technical system, risk management and control system and value system in detail, which will provide technical support for the innovative reform of freight information technology and realize the stable and high-speed development of freight logistics informationization.

Details

Smart and Resilient Transportation, vol. 2 no. 2
Type: Research Article
ISSN: 2632-0487

Keywords

Article
Publication date: 21 April 2022

Loha Hashimy, Geetika Jain and Emili Grifell-Tatjé

Large attention surrounds identifying the meaningful blockchain business model on financial services, while a little focus about non-financial organizations and solutions…

326

Abstract

Purpose

Large attention surrounds identifying the meaningful blockchain business model on financial services, while a little focus about non-financial organizations and solutions in terms of how the blockchain business model can affect the organization and bring more value. To address the complex structure of businesses that have public goods, it is important to develop sustainable blockchain-based business models.

Design/methodology/approach

This study offers the first qualitative research that uses an integrated technological, environmental and organizational (TOE) framework with technology acceptance theory (TAM) to study the adoption of blockchain technology by Spanish firms.

Findings

The results of the paper discuss how that competitive pressure, competence, top management support and relative advantage have a positive impact on intention to adopt blockchain technology while complexity affects the intention to adopt the technology negatively. Contrary to many adoption studies, the findings show that intention to adopt negatively impacts adoption and outline the effect of blockchain on business model elements on the macroeconomic level.

Originality/value

The key contribution of this study lies in providing a comprehensive understanding of the environmental, technological and organizational factors that impact the intention to adopt blockchain that eventually affects adoption.

Details

Industrial Management & Data Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 2 February 2021

Adriana Tiron-Tudor, Delia Deliu, Nicoleta Farcane and Adelina Dontu

The purpose of this paper is to facilitate blockchain innovation immersion in accountancy organizations by providing tools that allow organizations to manage the change…

2164

Abstract

Purpose

The purpose of this paper is to facilitate blockchain innovation immersion in accountancy organizations by providing tools that allow organizations to manage the change. The paper approaches blockchain technology (BT) through the lens of organizational change management, with a specific focus at the organization level.

Design/methodology/approach

A hybrid systematic literature review of relevant literature is presented based on recent research papers published in highly ranked scientific journals that capture how accounting organizations might manage the changes induced by BT.

Findings

The findings of the review indicate that implementing BT requires some new modus operandi. From individual behavior to organizational structure, the advantages of blockchain must be emphasized in all accounting and auditing organizations. Managers should forge a plan that takes advantage of employees' skills, competencies and talent, implementing forward-looking company procedures and actively deciding how to navigate workplace dynamics, personalities and responsibilities.

Research limitations/implications

The main limitations of the study refer to the infancy of the BT and require the development of knowledge through future studies to allow a more accurate outline of the overall picture and a detailed one of the BT phenomena with applicability to accounting and auditing. At this stage, it is not yet possible to fully envision the implications of BT on professional accounting and auditing organizations. However, there will be clients who adopt BTs, so firms should work with them to understand BT-based accounting and auditing applications. That is, accounting and auditing organizations should expand their skills and knowledge to anticipate and meet clients' needs.

Practical implications

In a constantly digitalizing world, the traditional accounting and educational environment is changing but not quickly enough to meet the requirements of a blockchain accounting system yet. For this reason, practical implications on the daily activities of the organizations and the restructuration of their internal architecture have been revealed in this paper.

Originality/value

The paper approaches blockchain using the lens of organizational change management with a specific focus on the accounting and audit organizations, and it proposes solutions to cope with the arising technological challenges. A challenge itself is the implementation of blockchain, especially when an entity is not ready for the process. Therefore, the SWOT analysis elaborated in this paper and focused on the accounting and auditing firms is an element of novelty and at the same time, a helpful tool highlighting the main strengths, weaknesses, opportunities and threats of this technology, supporting organizations in assessing how ready they are for its adoption. The research on blockchain in accountancy organizations is still necessary for at least seven key areas which have been proposed and detailed at the end of the paper, bringing in this way clarity in regards to the most endorsed avenues for future research directions.

Details

Journal of Organizational Change Management, vol. 34 no. 2
Type: Research Article
ISSN: 0953-4814

Keywords

Article
Publication date: 19 April 2022

Mahsa Sadeghi, Amin Mahmoudi and Xiaopeng Deng

In the digital transformation era, the construction industry is not immune to unintended consequences and disruptions of distributed ledger technologies like blockchain

Abstract

Purpose

In the digital transformation era, the construction industry is not immune to unintended consequences and disruptions of distributed ledger technologies like blockchain. At the micro-level, construction organizations need an in-depth understanding of blockchain risks to take proactive strategies for being on the safe side. This study seeks to answer “What are the risks associated with blockchain technology from the firm-level perspective? And how can this disruptive technology overshadow the business objectives and impact organizational criteria?”

Design/methodology/approach

The current research proposes a novel model for risk assessment based on the trapezoidal fuzzy ordinal priority approach (OPA-F) in the multi-criteria decision-making (MCDM) context. The proposed model handles uncertainties of experts' judgment around three primary parameters: the importance of organizational criteria, the impact of blockchain risks on criteria and the probability of risk occurrence.

Findings

The case study shows that organizational “communication and information” is exposed to the most blockchain risk. On the contrary, blockchain has less to do with an organization's “corporate social responsibility.” Furthermore, effective blockchain risk management can bring about cost efficiency, quality and improved customer experience for this case study. In the end, the authors develop a conceptual blockchain risk management framework based on findings.

Research limitations/implications

This study will broaden researchers' horizons regarding “blockchain in construction context” and “blockchain risk management.”

Practical implications

Furthermore, executives looking for blockchain-based solutions can benefit from research findings and lessons learned from this case study before decision-making. Lastly, the risk assessment model based on trapezoidal OPA-F can be used both for research purposes and industrial decision problems.

Originality/value

To the best of the authors’ knowledge, it is for the first time that the OPA-F is employed in a risk assessment model. Also, the original OPA-F is extended to trapezoidal OPA-F using trapezoidal fuzzy numbers, and it is the first attempt to evaluate blockchain risks facing construction organizations and develop a blockchain risk management framework accordingly.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 21 September 2021

Mahdi Ghaemi Asl, Muhammad Mahdi Rashidi and Seyed Ali Hosseini Ebrahim Abad

The purpose of this study is to investigate the correlation between the price return of leading cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, Monero…

Abstract

Purpose

The purpose of this study is to investigate the correlation between the price return of leading cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, Monero, Stellar, Peercoin and Dash, and stock return of technology companies' indices that mainly operate on the blockchain platform and provide financial services, including alternative finance, democratized banking, future payments and digital communities.

Design/methodology/approach

This study employs a Bayesian asymmetric dynamic conditional correlation multivariate Generalized Autoregressive Conditional Heteroskedasticity (GARCH) (BADCC-MGARCH) model with skewness and heavy tails on daily sample ranging from August 11, 2015, to February 10, 2020, to investigate the dynamic correlation between price return of several cryptocurrencies and stock return of the technology companies' indices that mainly operate on the blockchain platform. Data are collected from multiple sources. For parameter estimation and model comparison, the Markov chain Monte Carlo (MCMC) algorithm is employed. Besides, based on the expected Akaike information criterion (EAIC), Bayesian information criterion (BIC), deviance information criterion (DIC) and weighted Deviance Information Criterion (wDIC), the skewed-multivariate Generalized Error Distribution (mvGED) is selected as an optimal distribution for errors. Finally, some other tests are carried out to check the robustness of the results.

Findings

The study results indicate that blockchain-based technology companies' indices' return and price return of cryptocurrencies are positively correlated for most of the sampling period. Besides, the return price of newly invented and more advanced cryptocurrencies with unique characteristics, including Monero, Ripple, Dash, Stellar and Peercoin, positively correlates with the return of stock indices of blockchain-based technology companies for more than 93% of sampling days. The results are also robust to various sensitivity analyses.

Research limitations/implications

The positive correlation between the price return of cryptocurrencies and the return of stock indices of blockchain-based technology companies can be due to the investors' sentiments toward blockchain technology as both cryptocurrencies and these companies are based on blockchain technology. It could also be due to the applicability of cryptocurrencies for these companies, as the price return of more advanced and capable cryptocurrencies with unique features has a positive correlation with the return of stock indices of blockchain-based technology companies for more days compared to the other cryptocurrencies, like Bitcoin, Litecoin and Ethereum, that may be regarded more as speculative assets.

Practical implications

The study results may show the positive role of cryptocurrencies in improving and developing technology companies that mainly operate on the blockchain platform and provide financial services and vice versa, suggesting that managers and regulators should pay more attention to the usefulness of cryptocurrencies and blockchains. This study also has important risk management and diversification implications for investors and companies investing in cryptocurrencies and these companies' stock. Besides, blockchain-based technology companies can add cryptocurrencies to their portfolio as hedgers or diversifiers based on their strategy.

Originality/value

This is the first study analyzing the connection between leading cryptocurrencies and technology companies that mainly operate on the blockchain platform and provide financial services by employing the Bayesian ssymmetric DCC-MGARCH model. The results also have important implications for investors, companies, regulators and researchers for future studies.

Details

Journal of Enterprise Information Management, vol. 34 no. 5
Type: Research Article
ISSN: 1741-0398

Keywords

Article
Publication date: 4 February 2021

Geetika Jain, Naman Sharma and Archana Shrivastava

Due to technology advancement or transparency in system, there is a constant inflow and outflow of technology in the business for transparency and efficiency. To seize a…

1379

Abstract

Purpose

Due to technology advancement or transparency in system, there is a constant inflow and outflow of technology in the business for transparency and efficiency. To seize a competitive advantage, companies have emerged new technological solutions to respond to the change in the organization environment. There is a surge in the requirement of learning opportunities and effective training programs in the organization. The current study has been an effort to understand the potential of blockchain technology that can create better training evaluation.

Design/methodology/approach

The electronic-Delphi (e-Delphi) method has been conducted by recording the final consensus and to find a balance for implementation of blockchain technology and measuring training effectiveness. The current research is one of its new types where blockchain-enabled training effectiveness measurement (BETEM) model has been formulated using a qualitative approach.

Findings

The study has considered human resource (HR) professionals as the experts and based on their responses, the formulation of theoretical network model has been structured using e-Delphi–BETEM (e-DLH–BETEM) approach. By critically examining the experts’ responses and comments, the study formulated the four major themes and 11 subthemes for the smooth functioning of the BETEM for an organization.

Research limitations/implications

The research aims to aid innovations in BETEMs model for training evaluation. The model will contribute incrementally toward the complete transformation of the training development programs of employees. The goal of BETEMs is to ensure that organizations, specifically HR personals can prepare themselves to have competitive advantage by using blockchain technology.

Originality/value

The application of blockchain technology in measuring the training effectiveness is an addition to existing literature as majority of existing studies have studied the use of technology for measuring training effectiveness.

Details

Journal of Organizational Change Management, vol. 34 no. 2
Type: Research Article
ISSN: 0953-4814

Keywords

Article
Publication date: 2 December 2022

Makungu Meriot Chavalala, Surajit Bag, Jan Harm Christiaan Pretorius and Muhammad Sabbir Rahman

The cold supply chain industry is still emerging and digital transformation is in the nascent stage in this industry. This paper argues that there are various barriers to…

Abstract

Purpose

The cold supply chain industry is still emerging and digital transformation is in the nascent stage in this industry. This paper argues that there are various barriers to implementing blockchain technology in the cold supply chain and aims to develop and validate a model for overcoming key barriers to implementing blockchain technology in the cold supply chain.

Design/methodology/approach

The adoption of blockchain technology was proposed through interpretive structural modeling (ISM) and further it is validated using structural equation modeling (SEM).

Findings

In this study, ten key barriers to implementing blockchain technology in the cold supply chain were identified, modelled and analysed. Poor leadership style of top management was found to be the most important barriers to implementing blockchain technology in the cold supply chain. The results of SEM indicate that all the paths are supported. The findings showcase the barriers responsible for the lack of blockchain technology infrastructure that ultimately impacts the cold supply chains.

Practical implications

This study highlights the fact that the fate of blockchain technology infrastructure development depends on the leadership style of top management. Demonstrating good leadership style by top management can help overcome the barriers. A good leader pulls the entire team instead of pushing the team. A good leader can guide the entire team to improve IT governance, financial investment, digital footprint, digital readiness, skills and collaboration with service providers to implement blockchain technology. Not only that, a good leader provides mental strength to the team and helps overcome the fear of implementing blockchain in the cold supply chain. A good leader demonstrates good administrative skills and focus on security and privacy policies.

Originality/value

This is a novel contribution towards analysing the key barriers to implementing blockchain technology in the South African cold supply chain using the integrated ISM–MICMAC and SEM approach.

Details

Journal of Enterprise Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0398

Keywords

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