Assessing impacts of emergency industry demonstration on firm profitability: the role of blockchain strategies and technologies

Yingjie Ju, Jianliang Yang, Jingping Ma, Yuehang Hou
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Abstract

PurposeThe objective of this study is to explore the impact of a government-supported initiative for operational security, specifically the establishment of the national security emergency industry demonstration base, on the profitability of local publicly traded companies. Additionally, the study investigates the significance of firms' blockchain strategies and technologies within this framework.Design/methodology/approachUsing the differences-in-differences (DID) approach, this study evaluates the impact of China's national security emergency industry demonstration bases (2015–2022) on the profitability of local firms. Data from the China Research Data Service (CNRDS) platform and investor Q&As informed our analysis of firms' blockchain strategy and technology, underpinned by detailed data collection and a robust DID model.FindingsEmergency industry demonstration bases have notably boosted enterprise profitability in both return on assets (ROA) and return on equity (ROE). Companies adopting blockchain strategies and operational technology see a clear rise in profitability over non-blockchain peers. Additionally, the technical operation of blockchain presents a more pronounced advantage than at the strategic level.Originality/valueWe introduced a new perspective, emphasizing the enhancement of corporate operational safety and financial performance through the pathway of emergency industry policies, driven by the collaboration between government and businesses. Furthermore, we delved into the potential application value of blockchain strategies and technologies in enhancing operational security and the emergency industry.
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评估应急产业示范对企业盈利能力的影响:区块链战略和技术的作用
目的本研究旨在探讨政府支持的行动安全倡议(特别是建立国家安全应急产业示范基地)对本地上市公司盈利能力的影响。此外,本研究还探讨了在此框架下企业区块链战略和技术的意义。设计/方法/途径本研究采用差异法(DID)评估了中国国家安全应急产业示范基地(2015-2022 年)对地方企业盈利能力的影响。中国研究数据服务(CNRDS)平台和投资者问答中的数据为我们分析企业的区块链战略和技术提供了依据,并以详细的数据收集和稳健的 DID 模型为基础。采用区块链战略和运营技术的企业的盈利能力明显高于非区块链企业。此外,区块链的技术操作比战略层面的优势更加明显。原创性/价值我们引入了一个新的视角,强调在政府和企业的合作推动下,通过应急产业政策的途径来提升企业的运营安全和财务业绩。此外,我们还深入探讨了区块链战略和技术在加强运营安全和应急产业方面的潜在应用价值。
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