Blockchain Solutions for Agency Problems in Corporate Governance
Wulf A. Kaal · 2019
As a foundational technology, blockchain technology creates the infrastructure for decentralized networked governance that, over time, creates the environment that enables the removal of internal and external monitoring mechanisms previously necessitated by agency problems in corporate governance. Blockchain technology facilitates a substantial increase in efficiency in the agency relationship and lowers agency costs in orders of magnitude. Key Words: Agency, Principal-Agent, Blockchain, Technology, Agency Cost, Monitoring, Corporate Governance, Blockchain, Distributed Ledger Technology, Emerging Technology JEL Categories: K20, K23, K32, L43, L5, O31, O32 * (c) 2019 Professor of Law, University of St. Thomas School of Law (Minneapolis, USA). 1 Electronic copy available at: https://ssrn.com/abstract=3373393 BLOCKCHAIN SOLUTIONS FOR CORPORATE GOVERNANCE - VERSION 8.DOCX
Cite: Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3373393. https://doi.org/10.1142/9789811220470_0012
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