scholarly journals Blockchain-Enabled Corporate Governance and Regulation

2020 ◽  
Vol 8 (2) ◽  
pp. 36
Author(s):  
Dulani Jayasuriya Daluwathumullagamage ◽  
Alexandra Sims
Keyword(s):  
Systematic Review ◽  
Corporate Governance ◽  
Empirical Analysis ◽  
Textual Analysis ◽  
Sample Period ◽  
Governance Framework ◽  
Significant Growth ◽  
Final Article ◽  
Initial Coin Offerings ◽  
Relevant Factors

There is considerable hype about blockchain in almost every industry, including finance, with significant investments globally. We conduct a systematic review of 851 records and construct a final article sample of 183 for the sample period 2012 to 2020 to identify relevant factors for blockchain adoption in corporate governance. We conduct textual and empirical analysis to develop a decentralized autonomous governance framework and link traditional corporate governance theories to blockchain adoption. Furthermore, we explore present and future use cases and implications of blockchains in corporate governance. Using our systematic review and textual analysis, we further identify gaps and common trends between prior academic and industry literature. Moreover, for our empirical analysis, we compile a unique database of blockchain investments to forecast future investments. In addition, we explore blockchain potential in corporate governance during and post COVID-19. We find prior academic articles to mostly focus on regulation (49 studies) and Initial Coin Offerings (ICOs) (46 studies), while industry articles tend to concentrate on exchanges (10 studies) and cryptocurrencies (9 articles). A significant growth in literature is observed for 2017 and 2018. Finally, we provide behavioural, regulatory, ethical and managerial perspectives of blockchain adoption in corporate governance.

Corporate Governance for Complex Cryptocurrencies?

2019 ◽  
pp. 140-166 ◽  
Author(s):  
Philipp Hacker
Keyword(s):  
Corporate Governance ◽  
Complex Systems ◽  
Case Studies ◽  
Complexity Theory ◽  
Financial Regulation ◽  
Financial Innovation ◽  
Governance Framework ◽  
Blockchain Technology ◽  
Formal Equality ◽  
Initial Coin Offerings

Cryptocurrencies such as Bitcoin or Ethereum are gaining ground not only as alternative modes of payment but also as platforms for financial innovation, particularly through token sales or initial coin offerings (‘ICOs’). All of these ventures are based on decentralized, permissionless blockchain technology, distinguished by their openness to, and the formal equality of, participants. However, recent cryptocurrency crises have shown that these architectures lack robust governance frameworks and are therefore prone to patterns of re-centralization. They are informally dominated by coalitions of powerful players within the cryptocurrency ecosystem who may violate basic rules of the blockchain community without accountability or sanction. This chapter first suggests that cryptocurrency and token-based ecosystems can be fruitfully analysed as complex systems that have been studied for decades in complexity theory and have recently gained prominence in financial regulation, too. It applies these insights to three key case studies: the Bitcoin Hard Fork of 2013; the Ethereum hard fork of 2016, following the DAO hack; and the ongoing Bitcoin scaling debate. Second, the chapter argues that complexity-induced uncertainty can be reduced, and elements of stability and order strengthened, by adapting a corporate governance framework to blockchain-based organizations: cryptocurrencies, and decentralized applications built on top of them via token sales. The resulting ‘comply-or-explain’ approach combines transparency and accountability with the necessary flexibility that allows blockchain developers to continue to experiment for the sake of innovation. Eventually, however, the coordination of these activities may necessitate the establishment of a self-regulatory institution.

scholarly journals ASPEK-ASPEK PENTING UNTUK DIPAHAMI OLEH PARA AHLI/PRAKTISI HUKUM TERHADAP PENYUSUNAN LAPORAN KEUANGAN PADA SUATU PERSEROAN TERBATAS (SUATU PENDEKATAN GOOD CORPORATE GOVERNANCE)

2008 ◽  
Vol 38 (1) ◽  
pp. 1
Author(s):  
Ari Wahyudi Hertanto
Keyword(s):  
Corporate Governance ◽  
Company Law ◽  
Financial Report ◽  
Good Corporate Governance ◽  
Relevant Factors

AbstrakThe company financial report in Indonesia does comply to Company Lawthat recent is Law number 40 year 2007 that applied to either private orpublic company as had governed at article 56 previous company law. Roleand function of lawyer in this subject is to assure that the financial structurereported has reliability and accountability under legal concerns. This articleis focused not only on company law aspect but also submits deeper thoughtsby more relevant factors. It 's embarked on knowledge of standard professionthat giving supports behind the financial report creation. Many affiliatedprofessions those also have different concern but here they are ought toperform mutualism symbiosis under thought that they are have dependencyand relevancy each other

Corporate governance in microfinance organizations: along and winding road

2001 ◽  
Vol 39 (4) ◽  
pp. 296-302 ◽  
Author(s):  
Marc Labie
Keyword(s):  
Corporate Governance ◽  
Governance Framework ◽  
Key Issues

Over the last few years, more and more attention has been devoted to microfinance by academics and practitioners interested in development issues. This paper is part of this trend, as it tries to identify to what extent the corporate governance framework can be applied to microfinance organizations. Therefore, after considering some of the key issues, it tries to show how relevant these issues are to the microfinance industry.

scholarly journals Current Practices and Improvement of Saudi Corporate Governance Framework

2017 ◽  
Vol 10 (4) ◽  
pp. 81
Author(s):  
Khalid Saad Al-habshan
Keyword(s):  
Corporate Governance ◽  
Legal System ◽  
Annual Reports ◽  
Legal Basis ◽  
Governance Framework ◽  
Preceding Article ◽  
Financial Scandals ◽  
The Way ◽  
Current Practices

The preceding article described the notions of disclosure and transparency and their purpose and importance in practice. An understanding of the requirements and elements of the practice of disclosure leads to a discussion of its benefits and advantages, as well as the consequences of a lack of transparency during financial scandals. The Saudi approach to disclosure and transparency is also examined based on the evidence given in board annual reports. This paper highlights the way the Saudi legal system evaluates corporate governance and its legal basis.

The Next Stage of Reforms: Korean Corporate Governance in the Post-Asian Financial Crisis Era

2006 ◽  
Vol 1 ◽  
pp. 1-23
Author(s):  
Joongi Kim
Keyword(s):  
Corporate Governance ◽  
Financial Crisis ◽  
Boards Of Directors ◽  
Corporate Control ◽  
Asian Financial Crisis ◽  
Governance Framework ◽  
Quantum Leap ◽  
World Class

AbstractFollowing the 1997 financial crisis, Korea underwent a dramatic overhaul of its corporate governance framework. Drastic changes in its legal and regulatory infrastructure led to more transparent and accountable companies. Boards of directors, shareholders, stakeholders, and auditors began to function effectively and even a corporate control market emerged. Many forms of internal and external corporate governance and market-oriented discipline were established. Korean companies are poised to make a quantum leap to reach the most competitive international levels of corporate governance. This paper argues that Korea must continue its reform efforts. It first discusses the Asian financial crisis and the first stage of reforms that followed. It then explores the areas where Korea needs to undergo the next stage of reforms. It will argue that only then can Korean corporations receive proper valuations. Korean companies have indeed come a long way but lingering perceptions of weak corporate governance thwart them from becoming world-class competitors.

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