Using Blockchain infrastructure to decrease information asymmetry in syndicated loans with qualitative thematic analysis method

Document Type : Original Article

Authors
Fatemeh Varaee 1
Alireza Pour Ebrahimi 2
Mahnaz Rabiei 3
Changiz Valmohamadi 4
1 Department of Information Technology Management, South Tehran Branch, Islamic Azad University, Tehran, Iran
2 Department of Industrial Management, Karaj Branch, Islamic Azad University, Alborz, Iran
3 Department of Economics, Modeling and Optimization Research Center in Engineering Sciences, South Tehran Branch, Islamic Azad University, Tehran, Iran
4 Department of Industrial Management, South Tehran Branch, Islamic Azad University, Tehran, Iran
10.30495/jik.2024.76173.4448
Abstract
Blockchain, a pivotal solution for systemic challenges in finance, empowers users to utilize a decentralized ledger for preserving data in a distributed manner. The objective is to pinpoint areas within blockchain technology that alleviate informational asymmetry in the banking system. The study delved into the effects of blockchain adoption on syndicated loan markets, employing a mixed-method approach integrating qualitative thematic analysis and confirmatory factor analysis.
Qualitative data collection involved semi-structured interviews with 9 blockchain and banking experts, complemented by questionnaires for quantitative analysis. Interviews, utilizing a targeted method, continued until theoretical saturation. MAXQDA software analyzed responses, revealing 159 concepts, 14 sub-themes, and 5 main themes. A subsequent quantitative assessment of the model employed structural equation modeling with SMARTPLS software, validating the model's legitimacy with statistically significant values (exceeding 1.96) and factor loadings exceeding 0.7.
Key findings in the blockchain-based model's components for reducing informational asymmetry in syndicated loans encompass impacts on syndicate architecture, technical structure (information technology), agreement, immutability, and shareability. These elements wield substantial influence, intricately explained, in diminishing informational asymmetry within syndicated facilities in the banking industry.
Keywords
Blockchain
Information asymmetry
Syndicated loan
thematic analysis
confirmatory factor analysis

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