An empirical study on the impact of blockchain on the cost of company equity financing Online publication date: Fri, 31-May-2024
by Yan Yue; Hannah Ji; Jonah Ji
International Journal of Mobile Communications (IJMC), Vol. 23, No. 4, 2024
Abstract: Blockchain, big data and other advanced mobile technologies are now more than ever heavily adopted in the financial field. This paper analyses whether the cost of equity financing can be reduced by the implementation of blockchain and other mobile information technology. Using Python language to measure word frequency, this paper measures the number of occurrences of words referring to mobile information technology occur in regular reports and announcements of listed companies. Empirical results indicate that the implementation of blockchain and other mobile information technologies by listed companies causes a significant increase in the cost of financing in short-term. But the conclusion is opposite in long-term. Furthermore, results indicate that the degree of marketisation and level of urban Internet development amongst which any given listed company operates significantly impacts the degree of effect blockchain and other mobile information technology has on companies while significantly reducing the cost of equity financing.
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