This study, based on the technology-organization-environment (TOE) model and the resource-based view (RBV) theory, aims to empirically examine and analyze the impact technological factors (technology competence and technology complexity), organizational factors (organizational readiness and organization size) and environmental factors (market dynamics and government support) on blockchain technology (BCT) adoption and its subsequent impact on the financial performance of firms in Jordan.
A structured questionnaire was used to collect data from 183 managers working in listed firms in Jordan. The research model was tested and validated through partial least squares structural equation modeling (PLS-SEM).
The results reveal that technological competence, complexity, organizational readiness, organization size and government support significantly influence BCT adoption, whereas market dynamics, an environmental factor, show no significant effect. Moreover, the findings confirm that BCT adoption positively contributes to the financial performance of firms in Jordan.
This empirical study addresses a critical gap in technological innovation research by proposing and validating a theoretical model that identifies the determinants and impacts of blockchain technology adoption in the Jordanian listed firms.
