The Role of Top Management Support toward Blockchain Technology Adoption among Small and Medium-Sized Enterprises Managers

Abstract

The rapid development of Blockchain Technology (BCT) has made it an increasingly significant topic, particularly for Small and Medium-Sized Enterprises (SMEs). This study examines the Behavioural Intention (BI) to adopt BCT among SMEs in Iraq, drawing on the Technology Acceptance Model (TAM), the Theory of Planned Behaviour (TPB), and Top Management Support (TMS). Data were collected through purposive sampling of SME managers who have adopted BCT, with 120 valid questionnaires analysed using Structural Equation Modelling (SEM). The results indicate that Perceived Ease of Use (PEOU), Subjective Norms (SN), and TMS positively and significantly influence Perceived Usefulness (PU). Both PEOU and PU also positively and significantly affect attitude (ATT). In addition, PU, ATT, and Perceived Behavioural Control (PBC) positively and significantly influence BI to adopt BCT. TMS was found to have a strong positive impact on both PEOU and PU, while SN had no significant effect on BI. Among the predictors, PBC emerged as the most crucial factor driving BI to adopt BCT. These findings suggest that Information Technology (IT) service providers, universities, government agencies, and the blockchain community should develop more effective strategies to promote BCT adoption and highlight its value to SMEs. Furthermore, strong TMS may encourage the allocation of resources toward new technologies and strategic decision-making, ultimately enhancing employees’ knowledge and expertise in blockchain applications.