Aybüke KESKİN
CONTENTS
GENİŞ ÖZET.7
ABSTRACT.15
ACKNOWLEDGEMENTS17
CONTENTS19
ABBREVIATIONS23
INTRODUCTION25
1.1. Literature Review .25
1.2. Aim and Scope 31
1.3. Problems and Key Research Questions.31
1.4. Overview and Contribution32
1.5. The Importance of Study .32
1.6. The Planned Structure of the Research.32
1.7. Research Methodology .33
ARTIFICIAL INTELLIGENCE.35
2.1. In General .35
2.2. Definitions and Functions of AI 35
2.3. Types of AI .37
2.4. Regulations on AI38
2.5. Changes Brought by AI .40
2.5.1. In General .40
2.5.2. Effects of AI on Company Law.41
2.6. The Use of AI in the Management of the Company 45
2.6.1. AI as a Director.45
2.6.2. AI-Assisted Decision-Making .49
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2.6.3. AI in the Appointment of Board Members 51
2.7. AI and External Audit 54
2.7.1. Audit. 54
2.7.2. External Audit 55
2.7.3. Effects of AI on External Audit 56
2.7.4. Possible Uses of AI in External Audit. 57
2.7.4.1. In General . 57
2.7.4.2. AI as a Decision Aid 60
2.7.4.3. AI as an Auditor 63
2.7.5. Thoughts on the Future of External Audit. 67
BLOCKCHAIN.71
3.1. In General. 71
3.2. Definitions of Blockchain 72
3.3. Types of Blockchain. 73
3.4. Characteristics of Blockchain 74
3.5. Smart Contracts. 76
3.5.1. In General. 76
3.5.2. Smart Contracts on Blockchain 77
3.6. Benefits and Challenges of Blockchain . 79
3.7. From Traditional Ways to Blockchain in Companies . 82
3.8. Decentralised Autonomous Organisations . 85
3.9. Blockchain from the Formation to the Termination of the Company. 87
3.9.1. Forming a Company on Blockchain 87
3.9.1.1. Company Formation 87
3.9.1.2. Company Formation via Blockchain. 88
3.9.1.3. A Case Study from Estonia 90
3.9.2. Preparation of the Articles of Association on Blockchain 92
3.9.3. Keeping Commercial Books and Records of the Company via
Blockchain 94
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3.9.4. Having Annual General Meetings via Blockchain .98
3.9.4.1. Virtual AGMs98
3.9.4.2. Virtual AGMs via Blockchain 101
3.9.4.3. Drawbacks of Blockchain-based AGMs. 104
3.9.5. Having Board Meetings via Blockchain 106
3.9.5.1. Virtual Board Meetings 106
3.9.5.2. Board Meetings and Blockchain. 109
3.9.5.3. Drawbacks of Virtual Meetings and the Blockchain
Solution . 110
3.9.6. Terminating the Company via Blockchain 111
DIGITALISATION AND CORPORATE GOVERNANCE 115
4.1. Corporate Governance. 115
4.1.1. In General 115
4.1.2. Digital Corporate Governance 118
4.2. The Principles of Corporate Governance within the Context of New
Technologies 120
4.2.1. Transparency. 120
4.2.2. Fairness 125
4.2.3. Accountability 126
4.2.3.1. In General. 126
4.2.3.2. Using AI. 127
4.2.3.2.1. Effects of AI on Accountability. 127
4.2.3.2.2. Liability of AI 129
4.2.3.2.3. The EU Directive. 130
4.2.3.2.4. Thoughts on Liability of AI 130
4.2.3.3. Utilising Blockchain. 132
4.2.3.4. Regarding DAOs 133
4.2.4. Responsibility 134
4.2.5. Monitoring 137
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4.3. Shareholder Rights 140
4.4. Minority Shareholders’ Rights145
4.5. Compliance150
4.6. Board Diversity as a Current Corporate Governance Discussion .155
CONCLUSION 163
5.1. Significance and Contribution.163
1.2. Future of Research.166
REFERENCES 169
