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The Effects of Blockchain Technology on Corporate Governance: Evidence from Emerging Economy

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  • Grace Osariemen EGHE-IKHURHE

    (Teesside University)

  • Mandella Osei BONSU-ASSIBEY

    (Teesside University)

Abstract

Modern developments in digitization have completely changed business structures and operating procedures. The core structure of a database can be built using the distributed technology known as blockchain, which combines data blocks and hash chains. Blockchain has been recommended by academics as one of the foundational elements of corporate governance. Though previous studies examined the impact of blockchain on firm numerous extents, few study has investigated the impact of blockchain technology on corporate governance. We examined the effects of blockchain technology on corporate governance of financial institutions in Nigeria. We use multiple regression over 121 responses. Samples were collected using a random sampling method. Results indicates that blockchain technology has positive impact on corporate governance suggesting the removal of agents as intermediaries in corporate governance through code, peers’ connectivity, and collaboration. Our results help managers transform the regulatory, financial, and entire governance structure of financial institutions.

Suggested Citation

  • Grace Osariemen EGHE-IKHURHE & Mandella Osei BONSU-ASSIBEY, 2022. "The Effects of Blockchain Technology on Corporate Governance: Evidence from Emerging Economy," Management Dynamics in the Knowledge Economy, College of Management, National University of Political Studies and Public Administration, vol. 10(3), pages 239-250, September.
    • Handle: RePEc:nup:jrmdke:v:10:y:2022:i:3:239-250
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    References listed on IDEAS

    as
    1. Garg, Poonam & Gupta, Bhumika & Chauhan, Ajay Kumar & Sivarajah, Uthayasankar & Gupta, Shivam & Modgil, Sachin, 2021. "Measuring the perceived benefits of implementing blockchain technology in the banking sector," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    2. George K. Amoako, 2017. "Relationship Between Corporate Social Responsibility (CSR) and Corporate Governance (CG): The Case of Some Selected Companies in Ghana," CSR, Sustainability, Ethics & Governance, in: Maria Aluchna & Samuel O. Idowu (ed.), Responsible Corporate Governance, pages 151-174, Springer.
    3. Salaheldin Hamad & Muhammad Umar Draz & Fong-Woon Lai, 2020. "The Impact of Corporate Governance and Sustainability Reporting on Integrated Reporting: A Conceptual Framework," SAGE Open, , vol. 10(2), pages 21582440209, June.
    4. Ahluwalia, Saurabh & Mahto, Raj V. & Guerrero, Maribel, 2020. "Blockchain technology and startup financing: A transaction cost economics perspective," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
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