Blockchain technology for corporate governance and IT governance: A financial perspectiv

Abstract

The development of information technology (IT) and the adoption of blockchain have affected the world of finance today. Research on these two matters is still lacking, especially from a financial perspective. This study aims to review the latest research regarding changes in corporate governance with the adoption of IT governance and blockchain. A computerized multi-database literature search was conducted in January–March 2022, using the ScienceDirect and Emerald search engines. The terms “corporate governance”, “IT governance”, and “blockchain” were entered in the descriptor fields, with “language” limited to English and “source” limited to peer-reviewed journal articles. The implementation of good corporate governance will reduce the company's risk and protect investors. Technological advances can be used to develop better IT governance by making information transparent and adopting technological advances to support the implementation of good corporate governance. Under a blockchain framework, corporate governance might evolve in a variety of ways. There are several advantages to issuing and trading corporate securities on blockchains, but there are also certain drawbacks connected to increased ownership transparency. Businesses would seek out board members and outside advisors with various skill sets, and crucial issues like managerial incentives would probably change to account for the shifting character of corporate securities.