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Blockchain adoption and analyst forecast accuracy

Author

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  • Wang, Fenghua
  • Ye, Qiang
  • Li, Jiang
  • Shi, Wen

Abstract

We examine the relationship between corporate blockchain adoption and analyst forecast accuracy. We manually collect the blockchain usage data of public firms from the Factiva news database. Using a staggered Difference-in-Differences method, we find that analyst forecast accuracy significantly improves after firms adopt blockchain technology. In addition, the change in analyst coverage could be the potential explanation for this result.

Suggested Citation

  • Wang, Fenghua & Ye, Qiang & Li, Jiang & Shi, Wen, 2025. "Blockchain adoption and analyst forecast accuracy," Research in International Business and Finance, Elsevier, vol. 73(PA).
    • Handle: RePEc:eee:riibaf:v:73:y:2025:i:pa:s0275531924003866
    DOI: 10.1016/j.ribaf.2024.102593
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    More about this item

    Keywords

    Blockchain; Analyst forecast; Accuracy; Error;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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