Yangchun Xiong, Li Ding, Shu Guo, Tsan-Ming Choi, Hugo K. S. Lam
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引用次数: 0
Abstract
Smart contracts, enabled by blockchain technology, are increasingly adopted by firms to automate the execution of agreements or contracts without the involvement of intermediaries. However, it is still unclear how smart contracts may affect firms' operational efficiency. We address this issue empirically by conducting a quasi-natural experiment in the United States in which certain states have enacted relevant laws that increase in-state firms' propensity to adopt and use smart contracts. Our difference-in-differences estimation suggests that compared with out-of-state control firms, in-state treatment firms' operational efficiency increases significantly after the enactment of smart contract laws. Our post hoc analysis further suggests that state-level smart contract laws help increase in-state firms' actual smart contract activities, which in turn lead to operational efficiency improvement. We also find that the operational efficiency improvement varies across firms with different supply chain complexities. While firms with a large number of supply chain partners (i.e., high horizontal complexity) gain more operational efficiency improvement, the improvement becomes less pronounced if firms' supply chain partners are distributed across different countries (i.e., high spatial complexity). Overall, our research not only demonstrates smart contracts' ability to improve operational efficiency but also reveals the critical role of supply chain complexity in affecting the operational efficiency improvement.
期刊介绍：
The Journal of Operations Management (JOM) is a leading academic publication dedicated to advancing the field of operations management (OM) through rigorous and original research. The journal's primary audience is the academic community, although it also values contributions that attract the interest of practitioners. However, it does not publish articles that are primarily aimed at practitioners, as academic relevance is a fundamental requirement.
JOM focuses on the management aspects of various types of operations, including manufacturing, service, and supply chain operations. The journal's scope is broad, covering both profit-oriented and non-profit organizations. The core criterion for publication is that the research question must be centered around operations management, rather than merely using operations as a context. For instance, a study on charismatic leadership in a manufacturing setting would only be within JOM's scope if it directly relates to the management of operations; the mere setting of the study is not enough.
Published papers in JOM are expected to address real-world operational questions and challenges. While not all research must be driven by practical concerns, there must be a credible link to practice that is considered from the outset of the research, not as an afterthought. Authors are cautioned against assuming that academic knowledge can be easily translated into practical applications without proper justification.
JOM's articles are abstracted and indexed by several prestigious databases and services, including Engineering Information, Inc.; Executive Sciences Institute; INSPEC; International Abstracts in Operations Research; Cambridge Scientific Abstracts; SciSearch/Science Citation Index; CompuMath Citation Index; Current Contents/Engineering, Computing & Technology; Information Access Company; and Social Sciences Citation Index. This ensures that the journal's research is widely accessible and recognized within the academic and professional communities.
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