Corporate Capture of Blockchain Governance
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Ferreira, Daniel & Li, Jin & Nikolowa, Radoslawa, 2019. "Corporate Capture of Blockchain Governance," CEPR Discussion Papers 13493, C.E.P.R. Discussion Papers.
References listed on IDEAS
- Joseph Farrell & Michael L. Katz, 2000.
"Innovation, Rent Extraction, and Integration in Systems Markets,"
Journal of Industrial Economics, Wiley Blackwell, vol. 48(4), pages 413-432, December.
- Farrell, Joseph & Katz, Michael, 2000. "Innovation, Rent Extraction, and Integration in Systems Markets," Department of Economics, Working Paper Series qt15k4v7xb, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Joseph Farrell & Michael L. Katz, 2003. "Innovation, Rent Extraction, and Integration in Systems Markets," Development and Comp Systems 0303005, University Library of Munich, Germany.
- Joseph Farrell and Michael L. Katz., 2000. "Innovation, Rent Extraction, and Integration in Systems Markets," Economics Working Papers E00-286, University of California at Berkeley.
- Farrell, Joseph & Katz, Michael, 2000. "Innovation, Rent Extraction, and Integration in Systems Markets," Competition Policy Center, Working Paper Series qt1441h2tj, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley.
- Joseph Farrell & Michael L. Katz, 2001. "Innovation, Rent Extraction, and Integration in Systems Markets," Industrial Organization 0012001, University Library of Munich, Germany.
- Joseph E. Stiglitz, 1987. "Technological Change, Sunk Costs, and Competition," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(3, Specia), pages 883-947.
- Whinston, Michael D, 1990.
"Tying, Foreclosure, and Exclusion,"
American Economic Review, American Economic Association, vol. 80(4), pages 837-859, September.
- Michael D. Whinston, 1989. "Tying, Foreclosure, and Exclusion," NBER Working Papers 2995, National Bureau of Economic Research, Inc.
- Thomas H. Noe, 2002.
"Investor Activism and Financial Market Structure,"
The Review of Financial Studies, Society for Financial Studies, vol. 15(1), pages 289-318, March.
- Thomas H. Noe, 2001. "Investor Activism and Financial Market Structure," CeRP Working Papers 14, Center for Research on Pensions and Welfare Policies, Turin (Italy).
- repec:zbw:bofrdp:2017_027 is not listed on IDEAS
- June Ma & Joshua S. Gans & Rabee Tourky, 2018. "Market Structure in Bitcoin Mining," NBER Working Papers 24242, National Bureau of Economic Research, Inc.
- Eric Budish, 2018. "The Economic Limits of Bitcoin and the Blockchain," NBER Working Papers 24717, National Bureau of Economic Research, Inc.
- Lin William Cong & Zhiguo He, 2019.
"Blockchain Disruption and Smart Contracts,"
The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1754-1797.
- Lin William Cong & Zhiguo He, 2018. "Blockchain Disruption and Smart Contracts," NBER Working Papers 24399, National Bureau of Economic Research, Inc.
- Becker, Gary S., 1985.
"Public policies, pressure groups, and dead weight costs,"
Journal of Public Economics, Elsevier, vol. 28(3), pages 329-347, December.
- Becker, Gary S., 1984. "Public Policies, Pressure Groups, and Dead Weight Costs," Working Papers 35, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
- Bruno Biais & Christophe Bisière & Matthieu Bouvard & Catherine Casamatta, 2019.
"The Blockchain Folk Theorem,"
The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1662-1715.
- Biais, Bruno & Bisière, Christophe & Bouvard, Matthieu & Casamatta, Catherine, 2017. "The blockchain folk theorem," TSE Working Papers 17-817, Toulouse School of Economics (TSE), revised Jan 2018.
- Bruno Biais & Christophe Bisière & Matthieu, Bouvard & Catherine Casamatta, 2019. "The blockchain folk theorem," Post-Print hal-02281914, HAL.
- Bruno Biais & Christophe Bisiere & Matthieu Bouvard & Catherine Casamatta, 2017. "The Blockchain Folk Theorem," Swiss Finance Institute Research Paper Series 17-75, Swiss Finance Institute.
- Biais, Bruno & Bisière, Christophe & Bouvard, Matthieu & Casamatta, Catherine, 2017. "The blockchain folk theorem," IDEI Working Papers 873, Institut d'Économie Industrielle (IDEI), Toulouse, revised Nov 2017.
- Alex Edmans & Gustavo Manso, 2011. "Governance Through Trading and Intervention: A Theory of Multiple Blockholders," The Review of Financial Studies, Society for Financial Studies, vol. 24(7), pages 2395-2428.
- Mike Burkart & Denis Gromb & Fausto Panunzi, 1997. "Large Shareholders, Monitoring, and the Value of the Firm," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(3), pages 693-728.
- David Yermack, 2017. "Corporate Governance and Blockchains," Review of Finance, European Finance Association, vol. 21(1), pages 7-31.
- Mike Burkart & Denis Gromb & Fausto Panunzi, 2000.
"Agency Conflicts in Public and Negotiated Transfers of Corporate Control,"
Journal of Finance, American Finance Association, vol. 55(2), pages 647-677, April.
- Burkart, Mike & Gromb, Denis & Panunzi, Fausto, 2000. "Agency conflicts in public and negotiated transfers of corporate control," LSE Research Online Documents on Economics 69551, London School of Economics and Political Science, LSE Library.
- Alex Edmans, 2014.
"Blockholders and Corporate Governance,"
Annual Review of Financial Economics, Annual Reviews, vol. 6(1), pages 23-50, December.
- Edmans, Alex, 2013. "Blockholders and Corporate Governance," CEPR Discussion Papers 9708, C.E.P.R. Discussion Papers.
- Alex Edmans, 2013. "Blockholders and Corporate Governance," NBER Working Papers 19573, National Bureau of Economic Research, Inc.
- Shleifer, Andrei & Vishny, Robert W, 1986.
"Large Shareholders and Corporate Control,"
Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 461-488, June.
- Shleifer, Andrei & Vishny, Robert W., 1986. "Large Shareholders and Corporate Control," Scholarly Articles 3606237, Harvard University Department of Economics.
- Huberman, Gur & Leshno, Jacob & Moallemi, Ciamac C., 2017. "Monopoly Without a Monopolist: An Economic Analysis of the Bitcoin Payment System," CEPR Discussion Papers 12322, C.E.P.R. Discussion Papers.
- Carbajo, Jose & de Meza, David & Seidmann, Daniel J, 1990. "A Strategic Motivation for Commodity Bundling," Journal of Industrial Economics, Wiley Blackwell, vol. 38(3), pages 283-298, March.
- Winton, Andrew, 1993. "Limitation of Liability and the Ownership Structure of the Firm," Journal of Finance, American Finance Association, vol. 48(2), pages 487-512, June.
- Annabelle Gawer & Rebecca Henderson, 2007.
"Platform Owner Entry and Innovation in Complementary Markets: Evidence from Intel,"
Journal of Economics & Management Strategy, Wiley Blackwell, vol. 16(1), pages 1-34, March.
- Annabelle Gawer & Rebecca Henderson, 2005. "Platform Owner Entry and Innovation in Complementary Markets: Evidence from Intel," NBER Working Papers 11852, National Bureau of Economic Research, Inc.
- repec:bla:jindec:v:48:y:2000:i:4:p:413-32 is not listed on IDEAS
- repec:bla:jfinan:v:53:y:1998:i:1:p:65-98 is not listed on IDEAS
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Ferreira, Daniel & Li, Jin & Nikolowa, Radoslawa, 2023. "Corporate capture of blockchain governance," LSE Research Online Documents on Economics 115618, London School of Economics and Political Science, LSE Library.
- Lin William Cong & Zhiguo He & Jiasun Li & Wei Jiang, 2021.
"Decentralized Mining in Centralized Pools [Concentrating on the fall of the labor share],"
The Review of Financial Studies, Society for Financial Studies, vol. 34(3), pages 1191-1235.
- Lin William Cong & Zhiguo He & Jiasun Li, 2019. "Decentralized Mining in Centralized Pools," NBER Working Papers 25592, National Bureau of Economic Research, Inc.
- JOSEPH A. McCAHERY & ZACHARIAS SAUTNER & LAURA T. STARKS, 2016. "Behind the Scenes: The Corporate Governance Preferences of Institutional Investors," Journal of Finance, American Finance Association, vol. 71(6), pages 2905-2932, December.
- Edmans, Alex & Holderness, Clifford, 2016. "Blockholders: A Survey of Theory and Evidence," CEPR Discussion Papers 11442, C.E.P.R. Discussion Papers.
- Jing Huang & Steven R. Matsunaga & Z. Jay Wang, 2020. "The Role of Pension Business Benefits in Institutional Block Ownership and Corporate Governance," Contemporary Accounting Research, John Wiley & Sons, vol. 37(4), pages 1959-1989, December.
- Joseph Abadi & Markus Brunnermeier, 2018.
"Blockchain Economics,"
NBER Working Papers
25407, National Bureau of Economic Research, Inc.
- Joseph Abadi & Markus K. Brunnermeier, 2022. "Blockchain Economics," Working Papers 22-15, Federal Reserve Bank of Philadelphia.
- Brunnermeier, Markus & Abadi, Joseph, 2018. "Blockchain Economics," CEPR Discussion Papers 13420, C.E.P.R. Discussion Papers.
- Joseph Abadi & Markus Brunnermeier, 2019. "Blockchain Economics," Working Papers 2019-12, Princeton University. Economics Department..
- Mike Burkart & Samuel Lee, 2022.
"Activism and Takeovers,"
The Review of Financial Studies, Society for Financial Studies, vol. 35(4), pages 1868-1896.
- Burkart, Mike & Lee, Samuel, 2018. "Activism and Takeovers," CEPR Discussion Papers 12616, C.E.P.R. Discussion Papers.
- Burkart, Mike & Lee, Samuel, 2022. "Activism and takeovers," LSE Research Online Documents on Economics 111564, London School of Economics and Political Science, LSE Library.
- Dasgupta, Amil & Fos, Vyacheslav & Sautner, Zacharias, 2021. "Institutional investors and corporate governance," LSE Research Online Documents on Economics 112114, London School of Economics and Political Science, LSE Library.
- Mona Mortazian & Seyedeh Asieh H. Tabaghdehi & Bryan Mase, 2019. "Large Shareholding and Firm Value in the Alternative Investment Market (AIM)," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 26(2), pages 229-252, June.
- Luc Laeven & Ross Levine, 2008.
"Complex Ownership Structures and Corporate Valuations,"
The Review of Financial Studies, Society for Financial Studies, vol. 21(2), pages 579-604, April.
- Luc Laeven & Ross Levine, 2006. "Complex Ownership Structures and Corporate Valuations," NBER Working Papers 12675, National Bureau of Economic Research, Inc.
- Mr. Luc Laeven & Mr. Ross Levine, 2007. "Complex Ownership Structures and Corporate Valuations," IMF Working Papers 2007/140, International Monetary Fund.
- Julien Prat & Benjamin Walter, 2021.
"An Equilibrium Model of the Market for Bitcoin Mining,"
Journal of Political Economy, University of Chicago Press, vol. 129(8), pages 2415-2452.
- Julien Prat & Walter Benjamin, 2017. "An Equilibrium Model of the Market for Bitcoin Mining," Working Papers 2017-15, Center for Research in Economics and Statistics.
- Julien Prat & Benjamin Walter, 2021. "An Equilibrium Model of the Market for Bitcoin Mining," Post-Print hal-03506522, HAL.
- Julien Prat & Benjamin Walter, 2018. "An Equilibrium Model of the Market for Bitcoin Mining," CESifo Working Paper Series 6865, CESifo.
- Doron Levit & Nadya Malenko & Ernst Maug, 2024.
"Trading and Shareholder Democracy,"
Journal of Finance, American Finance Association, vol. 79(1), pages 257-304, February.
- Levit, Doron & Malenko, Nadya & Maug, Ernst, 2022. "Trading and shareholder democracy," CEPR Discussion Papers 14039, C.E.P.R. Discussion Papers.
- Alex Edmans, 2014.
"Blockholders and Corporate Governance,"
Annual Review of Financial Economics, Annual Reviews, vol. 6(1), pages 23-50, December.
- Edmans, Alex, 2013. "Blockholders and Corporate Governance," CEPR Discussion Papers 9708, C.E.P.R. Discussion Papers.
- Alex Edmans, 2013. "Blockholders and Corporate Governance," NBER Working Papers 19573, National Bureau of Economic Research, Inc.
- Konijn, Sander J.J. & Kräussl, Roman & Lucas, Andre, 2011.
"Blockholder dispersion and firm value,"
Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1330-1339.
- Sander J.J. Konijn & Roman Kraeussl & Andre Lucas, 2009. "Blockholder Dispersion and Firm Value," Tinbergen Institute Discussion Papers 09-113/2, Tinbergen Institute, revised 03 Jan 2011.
- Konijn, Sander J. J. & Kräussl, Roman & Lucas, André, 2010. "Blockholder dispersion and firm value," CFS Working Paper Series 2010/05, Center for Financial Studies (CFS).
- Zhang, Zhiming & Ren, Da & Lan, Yanfei & Yang, Shanxue, 2022. "Price competition and blockchain adoption in retailing markets," European Journal of Operational Research, Elsevier, vol. 300(2), pages 647-660.
- Allen, Franklin & Barbalau, Adelina, 2024. "Security design: A review," Journal of Financial Intermediation, Elsevier, vol. 60(C).
- Gilles Hilary & Laura Xiaolei Liu, 2021. "Blockchain and Other Distributed Ledger Technologies in Finance," Springer Books, in: Raghavendra Rau & Robert Wardrop & Luigi Zingales (ed.), The Palgrave Handbook of Technological Finance, pages 243-268, Springer.
- Corum, Adrian Aycan, 2021. "Fighting Fire with Fire: Optimality of Value Destruction to Mitigate Short-Termism," OSF Preprints xhwmg, Center for Open Science.
- Jiri Chod & Nikolaos Trichakis & Gerry Tsoukalas & Henry Aspegren & Mark Weber, 2020. "On the Financing Benefits of Supply Chain Transparency and Blockchain Adoption," Management Science, INFORMS, vol. 66(10), pages 4378-4396, October.
- Stepanov, Sergey & Suvorov, Anton, 2017. "Agency problem and ownership structure: Outside blockholder as a signal," Journal of Economic Behavior & Organization, Elsevier, vol. 133(C), pages 87-107.
More about this item
Keywords
Governance; Blockchain; Proof-of-Work; Industrial Ecosystem;All these keywords.
JEL classification:
- G30 - Financial Economics - - Corporate Finance and Governance - - - General
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BEC-2019-04-01 (Business Economics)
- NEP-COM-2019-04-01 (Industrial Competition)
- NEP-ICT-2019-04-01 (Information and Communication Technologies)
- NEP-PAY-2019-04-01 (Payment Systems and Financial Technology)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:qmw:qmwecw:880. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Nicholas Owen The email address of this maintainer does not seem to be valid anymore. Please ask Nicholas Owen to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/deqmwuk.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.