Blockchain, supply chain finance collaboration, and the ESG performance of cultural and tourism enterprises
Lei Sun · International Review of Economics & Finance · 2026
Based on panel data from China’s A-share listed cultural and tourism companies during the period 2012–2023, this study explores the impact of blockchain technology adoption on the ESG performance of these enterprises, with a focus on the mediating mechanisms of supply chain finance collaboration and green innovation. The results indicate that blockchain application significantly improves the ESG performance of cultural and tourism firms. Further analysis reveals that the promoting effect of blockchain is more pronounced in regions with stronger government environmental regulation. Mechanism tests show that both supply chain finance collaboration and green innovation serve as significant mediating channels through which blockchain enhances ESG performance. These findings provide empirical evidence for understanding how blockchain technology fosters sustainable development in the cultural and tourism industry.