Impacto da blockchain em corporate governance

: alteração do paradigma da teoria de agência

Abstract

Nowadays, there is a clear and growing demand for greater transparency and accountability in Corporate Governance practices. This is driven by the need to ensure the legitimacy and authenticity of all actions taken by organizations, in order to uphold a strong institutional reputation and, thereby, strengthen stakeholder confidence. In this scenario, the adoption of Blockchain technology in Corporate Governance practices can play a crucial role, enabling a significant increase in information symmetry and operational reliability, while reducing costs. This impact could be particularly beneficial with regard to Agency Theory, which serves as the conceptual framework for analyzing and understanding the conflicts of interest that arise between shareholders and managers of a company. The decentralized and distributed nature of Blockchain makes it more difficult for managers to manipulate information or act in their own self-interest at the expense of shareholders. By promoting greater transparency, immutability, and reliability in corporate operations, Blockchain contributes to enhanced oversight of managers by shareholders, thereby reducing information asymmetry and conflicts of interest inherent in the principal-agent relationship. This leads to more effective management, increasing investor confidence and strengthening the position of organizations in the market.

Date of Award	19 Jul 2024
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Paulo Alves (Supervisor)