Blockchain-based technology in corporate governance: A transformative approach

Xu, Jiaman ORCID: https://orcid.org/0000-0002-3969-0841 2024. Blockchain-based technology in corporate governance: A transformative approach. Harnessing Technology for Knowledge Transfer in Accountancy, Auditing, and Finance, IGI Global, 26 - 42. (10.4018/9798369313312.ch002)

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Abstract

Blockchain-based technology has been recognized as a potential tool to transform corporate governance. This chapter first discusses the persisting challenges of agency costs, inefficiencies, and the need for improved transparency. It then examines the emergence of blockchain as a potential solution, offering a novel, decentralized approach to corporate governance. The analysis covers the technology's application to share registers, trading, voting, and accounting practices, emphasizing the duality of its promise for increased transparency and emergent privacy concerns. Controversial aspects, such as the threat to existing shareholder activism and the governance of blockchain itself, are critically examined. Solutions like hybrid blockchain models and regulatory nodes are proposed to address these issues. The chapter concludes with a forward-looking perspective on decentralized autonomous organizations (DAOs) as an innovative alternative to traditional corporate structures, signifying a new paradigm in corporate governance.

Item Type:	Book Section
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Publisher:	IGI Global
ISBN:	9798369313312
Last Modified:	18 Dec 2024 16:15
URI:	https://orca.cardiff.ac.uk/id/eprint/174582

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