Blockchain Technology, Enterprise Risk and Enterprise Performance
Ye Zhen, Qiao Wen, Ruyuan Wang, Wenli Wang
Abstract
In order to explore the impact of the application of blockchain technology on enterprise performance, as well as the mechanism of enterprise risk and the information disclosure quality on this impact process, and taking the data of A-share listed companies in China’s manufacturing industry from 2015 to 2022 as a research sample, this paper adopts methods such as multi-period difference-in-differences (DID) modeling to conduct an empirical investigation. Findings: The application of blockchain technology can improve enterprise performance. Enterprise risk plays a partial mediating effect, because blockchain technology can reduce enterprise risk and thereby improve enterprise performance. Information disclosure quality has an inhibitory influence on the process by which blockchain technology affects enterprise risk and a facilitating influence on the process by which enterprise risk affects enterprise performance. The results show that manufacturing enterprises with low information disclosure quality can reduce enterprise risk by combining with blockchain technology in production, management, and other aspects, thus improving enterprise performance and promoting sustainable development of enterprise economy.