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Explaining the non-adoption of blockchain technology in global value chains: a micro-foundational perspective

Author

Listed:
  • Tsvetelina Hubenova

    (University of Applied Sciences and Arts Northwestern Switzerland)

  • Johan P. Lindeque

    (University of Applied Sciences and Arts Northwestern Switzerland)

  • Marc K. Peter

    (University of Applied Sciences and Arts Northwestern Switzerland)

Abstract

The business potential of blockchain technology in global value chains (GVCs) includes the creation of permanent records of information, to facilitate specifications regulation, to mitigate risk using smart contracts and through full, transparent transaction traceability at reduced costs. Blockchain as a general-purpose technology (GPT) thus has the potential to increase the effectiveness and efficiency of value creation for firm specific advantages owned and/or controlled by multinational enterprises (MNE), yet adoption of blockchain is uneven. This study adopts a micro-foundational lens to explain the non-adoption of blockchain technology in multinational enterprises’ (MNE) global value chains (GVC), emphasizing the influence of the technology, organization and environment (TOE) influences on the technology acceptance (TAM) for blockchain, due to the impact on managers’ perception of blockchain's usefulness and ease of use. The empirical results are based on a multiple-case study research design, that collected interview data from supply chain managers in small, medium, and large-sized manufacturing MNEs that participate in global value chains that differ in their governance patterns. The results identified fifteen different drivers of the non-adoption of blockchain technology across the technological, organizational and external environments of the MNE. The results of the study allow a parsimonious model of blockchain technology non-adoption that is aligned with the digital technology adoption literature using a TOE–TAM approach.

Suggested Citation

  • Tsvetelina Hubenova & Johan P. Lindeque & Marc K. Peter, 2024. "Explaining the non-adoption of blockchain technology in global value chains: a micro-foundational perspective," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 51(2), pages 397-429, June.
    • Handle: RePEc:spr:epolin:v:51:y:2024:i:2:d:10.1007_s40812-023-00296-8
    DOI: 10.1007/s40812-023-00296-8
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    More about this item

    Keywords

    Multinational enterprises; Global value chains; General purpose technologies; Micro-foundations; Blockchain;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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