The Impact of Blockchain Technology on Firms' Environmental Innovation: A Technological Push Perspective

ABSTRACT Environmental innovation helps to achieve sustainable utilization of resources and represents an important measure for promoting the coordinated development of human and environment. Adopting the perspective of technological push—based on information asymmetry theory, cognitive orientation theory, and the resource‐based view—this study constructs a research model capturing the impact of blockchain technology on firms' environmental innovation. This study uses multiple regression analysis to examine the impact of blockchain technology on firms' environmental innovation. It also observes the mediating effect of proactive orientation and the moderating effect of venture capital. The results show that blockchain technology positively impacts firms' environmental innovation, with proactive orientation playing a mediating role between blockchain technology and environmental innovation and venture capital enhancing the positive effect. By analyzing the mechanism between blockchain technology and environmental innovation, this study provides a new theoretical basis for better applying blockchain technology to environmental innovation at the firm level.