Blockchain Development and Corporate Performance in China: The Role of Ownership

【Author】 Li, Shuangyan; Wang, Dan; Dong, Hao; Fu, Qiang

【Source】EMERGING MARKETS FINANCE AND TRADE

【影响因子】4.859

【Abstract】This research investigates the short-term and long-term performance and volatility of publicly traded firms engaged in blockchain business. In particular, it examines how ownership structure impacts performance and volatility in such firms. We manually collected the data of Chinese A-listed companies participating in blockchain development during 2013-2018 as samples, and find that both short- and long-term performance and volatility significantly decrease among these firms after involvement in blockchain business. Ownership concentration has a positive correlation with stock returns, return on assets, and volatilities, whereas the state as a controlling shareholder strengthens these positive links.

【Keywords】Blockchain; stock return; volatilities; Chinese listed firms

【发表时间】

【收录时间】2022-02-07

【文献类型】期刊

【主题类别】

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