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Analysis of Decentralization in Governance and Financial Efficiency of Companies Studying the Relationship in the Field of Decentralized Finance

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  • Kolmykov Kirill

    (Department of Economics, Lomonosov Moscow State University)

Abstract

Currently, the advantages of decentralization through blockchain technology in the financial sector are actively discussed. In this article, we investigate the decentralization in the governance of Decentralized Autonomous Organizations (DAO) using the Gini coefficient as an indicator of inequality among the token owners. This metric is analyzed in the context of Return on Investment (ROI) for companies in the decentralized finance (DeFi) sector. Our goal is to understand whether the level of "real" decentralization in blockchain-based governance affects financial efficiency, and to explore the benefits and possible limitations of such an approach. This analysis allows for a deeper understanding of the significance and impact of decentralization on the functioning and productivity of organizations in the DeFi sector, and to determine the extent to which this impact is positively or negatively reflected in their success and profitability. Additionally, the results of this analysis will provide a fuller understanding of the dynamics and potential of blockchain for organization governance.

Suggested Citation

  • Kolmykov Kirill, 2023. "Analysis of Decentralization in Governance and Financial Efficiency of Companies Studying the Relationship in the Field of Decentralized Finance," Working Papers 0061, Moscow State University, Faculty of Economics.
    • Handle: RePEc:upa:wpaper:0061
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    File URL: https://www.econ.msu.ru/sys/raw.php?o=102733&p=attachment
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    References listed on IDEAS

    as
    1. Corporate, 2022. "WorldFish 2021 Annual Report," Monographs, The WorldFish Center, number 41024, April.
    2. Bureau of Economic Analysis & BEA, 2022. "2022 Annual Update of the National Economic Accounts," Survey of Current Business, Bureau of Economic Analysis, November.
    3. repec:bre:bebook:48415 is not listed on IDEAS
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    More about this item

    Keywords

    Blockchain; Decentralized Finance; Cryptocurrency; DAO;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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