Blockchain Technology Adoption and Firm Performance in Bangladesh: The Contingent Role of Blockchain Application in Accounting Information

Abstract

Evidence on how blockchain affects firm performance is thin, especially in developing economies such as Bangladesh. Drawing on the Resource-Based View (RBV), this study examines whether blockchain technology adoption (BTA) is associated with financial performance (FIP) and market performance (MAP), and whether blockchain application in accounting information (BAAI) changes these relationships. We surveyed employees of blockchain-adopting firms through non-probability convenience sampling, in person and online, and obtained 121 usable responses (57.6% response rate). The data were analyzed with PLS-SEM in SmartPLS 4. BTA is strongly related to FIP (β = 0.564, p < 0.001) and moderately related to MAP (β = 0.431, p < 0.001). BAAI has no direct effect on either outcome. Contrary to the hypotheses, the BAAI × BTA interaction is negative for FIP (β = −0.167) and MAP (β = −0.142); these effects are small and statistically fragile, and BTA stays positive at every level of BAAI. The findings are associations from a small, cross-sectional, self-reported sample.