Abstract:
As one of the key supporting technologies of the digital economy, blockchain technology is profoundly driving systematic reforms in the organizational management models of enterprises. From the perspective of accounting information comparability, this paper selects A-share listed companies on the Shanghai and Shenzhen Stock Exchanges as the research sample to empirically test the impact of the application of blockchain technology on the accounting information quality. The results indicate that blockchain technology, characterized by decentralization, immutability, and autonomy, can enhance the transparency of accounting information by ensuring the authenticity of data sources, reducing the likelihood of financial fraud, and ensuring the implementation of accounting standards, thereby improving the comparability of corporate accounting information. In addition, the application of blockchain technology can facilitate the integration of supply chain resources, strengthen customer loyalty from both service and management perspectives, and reduce firms' dependence on major clients, all of which help enhance accounting information comparability. The heterogeneity analysis shows that the positive impact of blockchain technology on accounting information comparability is more pronounced in companies with a lower proportion of institutional ownership, non-Big Four auditors, and lower levels of both internal and external governance. Moreover, the improvement in accounting information comparability is even more significant for companies belonging to industries with strong supply chain linkages and located in China's central and eastern regions, where the degree and level of blockchain technology application are higher. The paper enriches the research on the economic consequences of blockchain technology, highlights the positive governance effect of blockchain technology, and provides insights for leveraging blockchain technology to promote the high-quality development of the economy.
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