La Blockchain, un outil innovant au service du financement d'entreprise

Elise Alfieri (), Radu Burlacu () and Geoffroy Enjolras
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Elise Alfieri: IRG - Institut de Recherche en Gestion - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel
Radu Burlacu: CERAG - Centre d'études et de recherches appliquées à la gestion - UGA - Université Grenoble Alpes

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Abstract: Corporate financing has recently benefitted from innovative technics and solutions based on the blockchain technology. In order to analyze them, this article proposes a theoretical framework based on risks: market mechanisms, information asymmetries, opportunistic behavior, legal guarantees and operational risks. We develop a typology of financing instruments through two dimensions: means of exchange and contracts. A study of four situations supports this classification and demonstrates the potential of blockchain despite the appearance of new risks.

Keywords: risks; ICO; funding; blockchain; fund raising; Risques; modes de financement; levée de fonds (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

Published in Recherches en sciences de gestion, 2021, 2 (143), pp.115-141. ⟨10.3917/resg.143.0115⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04815902

DOI: 10.3917/resg.143.0115

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