The Impact of Blockchain Technology on the Accounting Information System Efficiency and Business Performance: the Case of Businesses Owning E-Commerce Platforms in Vietnam

Abstract

The adoption of blockchain technology represents a contemporary and innovative managerial approach embraced by businesses. The consequential impact of blockchain on business performance necessitates thorough examination. This study endeavours to evaluate the influence of blockchain technology on the efficacy of Accounting Information Systems and operational outcomes within businesses operating E-commerce platforms in Vietnam. The research framework, derived from a comprehensive literature review on blockchain technology, encompasses dimensions such as Information Transparency, Information Immutability, and Smart Contracts. Business performance is gauged through assessments of production outcomes, cost control results, and profitability. The metrics for evaluating the Accounting Information System's effectiveness and the factors in the model are meticulously defined. A survey was conducted, encompassing managers at various levels and accounting department employees in 139 businesses owning E-commerce platforms in Vietnam. Quantitative analysis involved processing data through a linear structural model within Structural Equation Modelling (SEM). The findings indicate a positive correlation between blockchain technology and the efficiency of the Accounting Information System. Moreover, the heightened effectiveness of the Accounting Information System positively influences the business performance of Vietnamese companies that own E-commerce platforms. Drawing from the research outcomes, practical and policy recommendations are proposed for the government and businesses to enhance the integration of blockchain in Accounting Information Systems and improve business performance.