分散融资(DeFi)保证:早期证据

IF 4.8 3区 管理学 Q1 BUSINESS, FINANCE
Thomas Bourveau, Janja Brendel, Jordan Schoenfeld
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引用次数: 0

摘要

去中心化金融(DeFi)的出现是为了在没有中介机构(如银行)的情况下提供借贷和交易等传统金融服务。DeFi 交易通常使用一种特殊的数字合约(称为智能合约)来执行。这些合约可以自动执行,并直接硬编码在区块链上。我们观察到出现了一种新的自愿审计,用于评估这些合约的完整性。我们使用手工编码的约 8,500 份智能合约审计报告样本,首次提供了一些证据,表明:(1)这些审计普遍存在;(2)审计公司市场由新技术审计公司组成;(3)这些审计的范围可涵盖各种合约特征;(4)审计的输入和输出与传统财务审计的输入和输出有很大不同;(5)市场对这些审计报告的发布反应积极,表明这些报告与价值相关。这些发现凸显了区块链技术驱动下对新型鉴证服务的需求。
本文章由计算机程序翻译,如有差异,请以英文原文为准。

Decentralized Finance (DeFi) assurance: early evidence

Decentralized Finance (DeFi) assurance: early evidence

Decentralized finance (DeFi) has emerged to offer traditional financial services such as lending, borrowing, and trading without intermediaries (e.g., banks). DeFi transactions are typically executed using a special digital class of contracts called smart contracts. These contracts are self-executing and hard-coded directly on a blockchain. We observe the emergence of a new class of voluntary audits that evaluate the integrity of these contracts. Using a hand-coded sample of about 8,500 smart contract audit reports, we provide some of the first evidence showing that (1) these audits are pervasive, (2) the audit firm market is composed of new technical audit firms, (3) the scope of these audits can span a variety of contract features, (4) the audit inputs and outputs differ substantively from those of conventional financial audits, and (5) the market reacts positively to the release of these audit reports, suggesting that these reports are value-relevant. These findings highlight the demand for novel assurance services driven by blockchain technology.

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来源期刊
Review of Accounting Studies
Review of Accounting Studies BUSINESS, FINANCE-
CiteScore
7.90
自引率
7.10%
发文量
82
期刊介绍: Review of Accounting Studies provides an outlet for significant academic research in accounting including theoretical, empirical, and experimental work. The journal is committed to the principle that distinctive scholarship is rigorous. While the editors encourage all forms of research, it must contribute to the discipline of accounting. The Review of Accounting Studies is committed to prompt turnaround on the manuscripts it receives.  For the majority of manuscripts the journal will make an accept-reject decision on the first round.  Authors will be provided the opportunity to revise accepted manuscripts in response to reviewer and editor comments; however, discretion over such manuscripts resides principally with the authors.  An editorial revise and resubmit decision is reserved for new submissions which are not acceptable in their current version, but for which the editor sees a clear path of changes which would make the manuscript publishable. Officially cited as: Rev Account Stud
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