Impact of blockchain technology on corporate governance: international evidence ESG firms
Ikram Ben Salah, Aïda Kammoun · EuroMed Journal of Business · 2025
Purpose The aim of this article is to investigate the impact of blockchain technology on corporate governance. Design/methodology/approach The sample for this study extends from 2010 to 2022 and includes data from 197 companies. The study uses a regression approach, feasible generalised least squares (FGLS) estimation for linear panel data models. For robustness analyses, we included alternative measures of the dependent and independent variables, divided the sample into financial and non-financial sectors and applied the method of generalised moments (SYS-GMM) for the dynamic effect. Findings The results show that the adoption of blockchain technology has a significant positive impact on corporate governance. Practical implications This document is a great help for the different economic actors involved in the company. It is possible that the results will attract the interest of investors to adopt blockchain technology. The results of this study could also be considered by stakeholders of corrupt companies to improve corporate governance and make better decisions. Originality/value To our knowledge, this is the first study that empirically examines the impact of blockchain technology adoption on corporate governance in the international context of ESG index. This study fills a research gap by extending the existing literature, which generally focuses on the impact of blockchain technology on corporate governance.