Predicting the Blockchain Technology Acceptance in Supply Chains with Inter-Firm Perspective: An Integrated DEMATEL and PLS-SEM Approach

Abstract

ABSTRACT Purpose Blockchain technology is one of the candidate technologies for resolving supply chain issues that may occur as a result of the complex and continuously changing market structures of the present day. In addressing the problems encountered in such a system, blockchain technology has emerged as a target technology due to its notable advantages, such as smart contracts and product traceability. Since a supply chain consists of suppliers, manufacturers, retailers, and industrial customers, blockchain technology can be considered inter-firm technology. However, the literature mainly focuses on technical, individual, and environmental aspects of technology acceptance depending on technology acceptance theories. Therefore, more information is needed about how inter-firm relations and their aspects affect organizational blockchain technology acceptance. Consequently, this study aims to identify the inter-firm characteristics and their influence on the acceptance of blockchain technologies in supply chains using network theory. Methodology The research methodology design consists of two elements. First, based on the expert judgments, the relationships between the indicated parameters regarding blockchain acceptance intention are analyzed using the DEMATEL technique, based on expert opinion. In the second part, with the data obtained from 361 supply chain managers, the validity of the linked assumptions in the proposed model is confirmed by applying PLS-SEM. Findings The present study enhances our knowledge of inter-firm technology acceptance behavior by incorporating trading partner trust, initial firm power, the dependency between partners, knowledge sharing, and cooperation. According to the findings of DEMATEL, there is a strong association between inter-firm technology acceptance characteristics in explaining behavioral intention. Whereas other variables mainly influence dependency, trust has the most significant impact on those variables with cooperation. On the other hand, PLS-SEM analysis delivers remarkable results that describe the complicated structure of blockchain acceptance from an inter-firm perspective. Cooperation is the most influential variable affecting behavioral intention (0.614), followed by dependency (0.156) and knowledge sharing (0.153). Even though the direct effects of inter-firm trust and the initial firm’s power on behavioral intention were found insignificant, dependency fully mediates the effects of these variables on behavioral intention. Similarly, the relationship between trading partner trust and behavioral intention is fully mediated by knowledge sharing, while it also partially mediates the influence of cooperation. Examining the direct impacts reveals that cooperation is the most influential variable on behavioral intention, which is consistent with the DEMATEL conclusion. Research Implications The current study demonstrates that the network theory is appropriate for explaining the acceptance of blockchain technology from an inter-firm perspective within the context of supply chain interactions. Since the theory can delve into the underlying characteristics of these relationships, it helps justify the target behavior. On the other hand, the DEMATEL approach validates the relationships between variables in the theoretical model. Then these associations are verified using PLS-SEM considering the primary data obtained from supply chain managers. The primary purpose of the DEMATEL method was to elucidate the relationships between variables and provide empirical support for the structure of the theoretical model. The networks of linkages that developed from the DEMATEL approach based on expert opinions corroborate the relationships in the theoretical model based on the literature, suggesting a significant connection between the two methodologies. Such methodological designs are essential for boosting the results’ trustworthiness and applicability. Practical Implications Cooperation is the most significant explanatory variable regarding blockchain technology acceptance. Following the nature of the supply chain, this conclusion highlights the significance of relationships between partners in chain. In their projects for blockchain technology, managers should examine the benefits of these technologies for themselves and other stakeholders in the chain. This study demonstrates issues with the inter-firm acceptance of blockchain technologies regarding the influence of trust and power on the final acceptance behavior. Nevertheless, the growth in inter-firm dependence enhances the efficiency of these effects. Therefore, managers must understand how to utilize their resources for chain gain. While this makes it easier for them to preserve their authority and influence the conduct of their partners over the long run, the appropriate allocation of resources across dependent stakeholders will ultimately strengthen the perception of trust. Our results also prove that knowledge sharing increases the effects of cooperation and inter-firm trust on behavioral intention. This indicates that managers should convince the other partners about the benefits of target technology by sharing key and timely information. Originality This study makes numerous original contributions and provides new insights. This study contributes to general knowledge of the acceptance of blockchain technologies in the supply chain by focusing on the inter-firm technology perspective. In this vein, the results produced through the investigation of mediation relations are novel and presented to the literature. On the other hand, DEMATEL and PLS-SEM are integrated for the first time considering blockchain acceptance in supply chain studies, to our knowledge. Furthermore, this is the first study to combine network theory and inter-firm perspective to explain the acceptance of blockchain technology in supply chains.