Use of Corporate Disclosures to Identify the Stage of Blockchain Adoption

【Author】 Stratopoulos, Theophanis C.; Wang, Victor Xiaoqi; Ye, Hua (Jonathan)

【Source】ACCOUNTING HORIZONS

【影响因子】2.157

【Abstract】SYNOPSIS: Several studies have pointed to the transformative effects of blockchain on a wide spectrum of firms, industries, and professions. Despite the arguable consensus within the business community that blockchain will have a real impact on the way firms do business, views diverge when it comes to the timing of diffusion (i.e., when blockchain will achieve mass adoption). We propose that information gathering helps potential adopters form expectations regarding payoffs from blockchain adoption. Information-gathering activities and the resulting information sources, such as web searches, news articles, book titles, and corporate disclosures, can proxy the expectations of potential adopters. Corporate disclosures directly reflect firms' expectations and interests in the new technology. We leverage the corporate disclosure data from the SEC Edgar database to identify the current stage of blockchain adoption. Our analysis shows that while blockchain adoption is still nascent, the focus has been shifting from cryptocurrencies to business applications.

【Keywords】blockchain; technology adoption; corporate disclosures; revealed expectations; textual analysis; topic modeling

【发表时间】2022 MAR

【收录时间】2022-06-29

【文献类型】理论性文章

【主题类别】

区块链应用-实体经济-其他