Purpose This article aims to investigate the impact of blockchain technology on corporate Environmental, Social and Governance (ESG) performance. Design/methodology/approach This study employs a feasible generalized least squares (FGLS) regression method to estimate the econometric model to explore the impact of blockchain technology on corporate (ESG) performance in international A-share listed companies from 2010 to 2023. To ensure the robustness of the results, an alternative measure for the dependent and independent variables and sector effect was utilized. Moreover, an additional analysis was conducted using Sys-GMM to validate the endogeneity. Findings The main findings of the study indicate that the adoption of blockchain technology has a significant impact on corporate ESG performance. Moreover, the observed relationship is significantly more pronounced for financial and technology companies than for other sectors. This finding is consistent with the two-stage Sys-GMM. Practical implications The originality of our study lies in its focus on the financial repercussions of integrating blockchain technology, with particular emphasis on its impact on ESG performance. We propose innovative perspectives that significantly contribute to improving ESG performance by drawing on theories such as the resource-based view theory, institutional theory and asymmetric information theory and their economic implications of integrating blockchain technology to enhance ESG performance. Originality/value It advocates that regulators and service providers should promote augmenting their ESG performance, underscoring the significance of allocating resources to technological advancement and cultivating competencies. Notably, the study contributes to the extant literature by offering one of the first empirical research investigations of the direct relationship between the adoption of blockchain technology and the corporate ESG performance in an international context.
Salah et al. (Mon,) studied this question.