IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxy2017i3bp3-12.html

Block Chain and Financial Controlling in the System of Technological Provision of Large Corporations

Author

Listed:
  • Albekov Adam Umarovich
  • Vovchenko Natalia Gennadyevna
  • Andreeva Olga Vladimirovna
  • Sichev Roman Alexandrovich

Abstract

The article is devoted to the research of current trends and priorities for the blockchain technology use in order to ensure the economic security of large corporate entities. Large corporate entities operating in terms of digital economy were selected as the object of the research. The subject of the research is a set of economic and organizational and financial relations ensuring the financial controlling effectiveness in large corporate entities, implemented with the blockchain technology application.The work highlights the advantages and risks of the blockchain technology use at different levels of the economic system on the basis of the study of accumulated experience, reveals institutional gaps and organizational dysfunctions appearing in the course of modelling the blockchain technology application experience to solve definite economic problems, defines the need of institutional, legal, information and technology preparation of economic agents to the blockchain technology implication.Forcing the practice of the blockchain technologies use in corporate entities can provide a minimum level of the corporate sector infrastructural readiness to risk management in the economic system integration into digital economy. At the same time the use of the system and functional approach has allowed coming to a conclusion that the blockchain technology spread in the international and domestic contracting between the corporate sector subjects is creating new threats to economic security, which requires the inclusion of possible risks decomposition in the systems of corporate audit and controlling as a part of the proactive approach.

Suggested Citation

  • Albekov Adam Umarovich & Vovchenko Natalia Gennadyevna & Andreeva Olga Vladimirovna & Sichev Roman Alexandrovich, 2017. "Block Chain and Financial Controlling in the System of Technological Provision of Large Corporations," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 3-12.
    • Handle: RePEc:ers:journl:v:xx:y:2017:i:3b:p:3-12
    as

    Download full text from publisher

    File URL: http://ersj.eu/dmdocuments/2017-xx-3-b-1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Eleftherios I. Thalassinos & Theodoros Stamatopoulos & Pantelis E. Thalassinos, 2015. "The European Sovereign Debt Crisis and the Role of Credit Swaps," World Scientific Book Chapters, in: Anastasios G Malliaris & William T Ziemba (ed.), THE WORLD SCIENTIFIC HANDBOOK OF FUTURES MARKETS, chapter 20, pages 605-639, World Scientific Publishing Co. Pte. Ltd..
    2. Dody Hapsoro & Tulus Suryanto, 2017. "Consequences of Going Concern Opinion for Financial Reports of Business Firms and Capital Markets with Auditor Reputation as a Moderation Variable - An Experimental Study," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 197-223.
    3. Mattila, Juri, 2016. "The Blockchain Phenomenon – The Disruptive Potential of Distributed Consensus Architectures," ETLA Working Papers 38, The Research Institute of the Finnish Economy.
    4. Sofya Glavina, 2015. "Influence of Globalization on the Regional Capital Markets and Consequences; Evidence from Warsaw Stock Exchange," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 117-134.
    5. O.V. Andreeva & E.V. Shevchik, 2017. "Organizational and Financial Modeling of Transnational Industrial Clusters Sustainable Development: Experience, Risks, Management Innovation," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 137-147.
    6. Gareth W. Peters & Efstathios Panayi & Ariane Chapelley, 2015. "Trends in cryptocurrencies and blockchain technologies: a monetary theory and regulation perspective," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(3), pages 92-113.
    7. Jan Hendrik Witte, 2016. "The Blockchain: A Gentle Four Page Introduction," Papers 1612.06244, arXiv.org.
    8. Micheler, Eva & von der Heyde, Luke, 2016. "Holding, clearing and settling securities through blockchain/distributed ledger technology: creating an efficient system by empowering investors," LSE Research Online Documents on Economics 68792, London School of Economics and Political Science, LSE Library.
    9. Benjamin Jessel & Tommy Marshall, 2016. "Get Bold with Blockchain," Journal of Financial Transformation, Capco Institute, vol. 43, pages 15-20.
    10. Christian Catalini & Catherine Tucker, 2016. "Seeding the S-Curve? The Role of Early Adopters in Diffusion," NBER Working Papers 22596, National Bureau of Economic Research, Inc.
    11. Goertzel, Ben & Goertzel, Ted & Goertzel, Zarathustra, 2017. "The global brain and the emerging economy of abundance: Mutualism, open collaboration, exchange networks and the automated commons," Technological Forecasting and Social Change, Elsevier, vol. 114(C), pages 65-73.
    12. N.G. Vovchenko & M.G. Holina & A.S. Orobinskiy & R.A. Sichev, 2017. "Ensuring Financial Stability of Companies on the Basis of International Experience in Construction of Risks Maps, Internal Control and Audit," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 350-368.
    13. Besnik Fetai, 2015. "Financial Integration and Financial Development: Does Financial Integration Matter?," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 97-106.
    14. Nikolaos Theriou & Vassilis Aggelidis, 2014. "Management Accounting Systems, Top Management Team’s Risk Characteristics and Their Effect on Strategic Change," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 3-38.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. N.G. Vovchenko & S.S. Galazova & A.A. Sopchenko & O.S. Dzhu, 2019. "FinTech Ecosystem as an Instrument of Sustainable Development Provision," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 2), pages 147-155.
    2. M. Dorofeyev & M. Ksov & V. Ponkratov & A. Masterov & A. Karaev & M. Vasyunina, 2018. "Trends and Prospects for the Development of Blockchain and Cryptocurrencies in the Digital Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 429-445.
    3. Yu.V. Przhedetskiy & N.V. Przhedetskaya & K.V. Borzenko & V.A. Bondarenko, 2019. "Blockchain Technologies in Healthcare Institutions: Focus on Security and Effective Cooperation with the Government," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 2), pages 92-99.
    4. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:524-532 is not listed on IDEAS
    5. M. Dorofeyev & M. Ksov & V. Ponkratov & A. Masterov & A. Karaev & M. Vasyunina, 2018. "Trends and Prospects for the Development of Blockchain and Cryptocurrencies in the Digital Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 429-445.
    6. Nicolas Neysen, 2020. "Blockchain and Smart Contracts in the Recording Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 174-185.
    7. D.V. Volkov & A.N. Maloletko, 2018. "Reliability of Cryptographic Information on Fiscal Data," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 744-753.
    8. repec:ers:journl:v:special_issue:y:2018:i:1:p:397-406 is not listed on IDEAS
    9. Tolendi Ashimbayev & Sarkyt Tashenova, 2018. "Prospects for Using Cryptocurrency in the Economy of Kazakhstan and the Attitude of the National Bank," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 524-532.
    10. T.V. Shatkovskaya & A.B. Shumilina & G.G. Nebratenko & Ju.I. Isakova & E.Yu. Sapozhnikova, 2018. "Impact of Technological Blockchain Paradigm on the Movement of Intellectual Property in the Digital Space," European Research Studies Journal, European Research Studies Journal, vol. 0(Special1), pages 397-406.
    11. N.G. Vovchenko & O.B. Ivanova & O.V. Andreeva & E.D. Kostoglodova, 2018. "Conceptual Approach to the Development of Financial Technologies in the Context of Digitalization of Economic Processes," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 11-20.
    12. Klarin, Anton, 2020. "The decade-long cryptocurrencies and the blockchain rollercoaster: Mapping the intellectual structure and charting future directions," Research in International Business and Finance, Elsevier, vol. 51(C).

    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.
    1. M.A. Surzhikov & A.A. Sycheva, 2017. "Process Approach to Modeling of National and Global Securities Market Operation," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 84-91.
    2. Andrei V. Vlasov, 2017. "The Evolution of E-Money," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 215-224.
    3. Е.О. Mirgorodskaya & L.Yu. Andreeva & I.V. Sugarova & R.A. Sichev, 2017. "Balanced Budget System: Organizational and Financial Tools," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 300-319.
    4. Nikolai Vasilevich Lyasnikov & Evgeniya Evgenevna Frolova & Andrei Alievich Mamedov & Sergei Borisovich Zinkovskii & Natalya Andreevna Voikova, 2017. "Venture Capital Financing as a Mechanism for Impelling Innovation Activity," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 111-122.
    5. Winston Pontoh, 2017. "The Capital Structure: Is Debt just a Policy or Requerement?," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 128-139.
    6. Agrianti Komalasari, 2017. "Implementation the International Financial Reporting Standards as a Moderating Variable of the Relationship of Corporate Governance with Earnings Management," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 259-277.
    7. Amilin Amilin, 2017. "The Impact of Role Conflict and Role Ambiguity on Accountants’ Performance: The Moderating Effect of Emotional Quotient," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 237-249.
    8. Nikolay Tikhomirov & Tatiana Tikhomirova & Eldar Khamitov & Vladimir Ponomarev, 2017. "Models of Assessment of the Influnce of Insurance Assets Securitization on Stability of Mutual Insurance Societies," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 321-333.
    9. A.S. Orobinsky & A.A. Alukhanyan & R.A. Sychev & M.G. Kholina, 2018. "Development of Risk-Oriented Technologies of the Corporate Financial Controlling System," European Research Studies Journal, European Research Studies Journal, vol. 0(Special1), pages 333-349.
    10. repec:ers:journl:v:xx:y:2017:i:2b:p:379-396 is not listed on IDEAS
    11. Ramona Rupeika-Apoga & Irina Solovjova, 2017. "Access to Finance for Latvian SMEs," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 57-68.
    12. Sergey Vladimirovitch Anureev, 2017. "Reconfiguration of Financial System Elements to Restore Economic Growth: The System Simplicity and Transformation towards State-Based and Corporate-Based Types," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 281-307.
    13. N.G. Vovchenko & M.G. Holina & A.S. Orobinskiy & R.A. Sichev, 2017. "Ensuring Financial Stability of Companies on the Basis of International Experience in Construction of Risks Maps, Internal Control and Audit," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 350-368.
    14. Victor Ivanovich Tkach & Sergey Nikolaevich Shchemelev, 2017. "Development of Digital (Engineering) Entity's Capital Management Frameworks," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 326-332.
    15. Muhammad Din & Munawarah & Imam Ghozali & Tarmizi Achmad, 2017. "The Follow Up of Auditing Results, Accountability of Financial Reporting and Mediating Effect of Financial Loss Rate: An Empirical Study in Indonesian Local Governments," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 443-459.
    16. S.A. Issakova & A.Sh. Moldabekova & M.T. Kenzhebayeva & V.N. Ð libekova & G.T. Tuleyeva, 2017. "Preparing Consolidated Financial Statements in Accordance with IFRS," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 458-469.
    17. Agus Zainul Arifin, 2017. "The Influence of Financial Knowledge, Control and Income on Individual Financial Behavior," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 635-648.
    18. Svetlana Saksonova & Irina Kuzmina-Merlino, 2017. "Fintech as Financial Innovation - The Possibilities and Problems of Implementation," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 961-973.
    19. O.B. Ivanova & T.F. Romanova & E.D. Kostoglodova & D.G. Romanov, 2017. "Strategic Directions of the Country's Ensuring Financial Security," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 461-468.
    20. repec:ers:journl:v:special_issue:y:2018:i:1:p:333-349 is not listed on IDEAS
    21. Alexander A. Galushkin, 2017. "Organizations of the Sphere of Education and Science Methods of Competitiveness Improvement," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 421-431.
    22. Vovchenko N.G. & Andreeva O.V. & Orobinsky A.S. & Sichev R.A., 2019. "Risk Control in Modeling Financial Management Systems of Large Corporations in the Digital Economy," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 3-15.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    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:ers:journl:v:xx:y:2017:i:3b:p:3-12. 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: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.