1.1. Literature Review
25
1.3. Problems and Key Research Questions
31
1.4. Overview and Contribution
32
1.5. The Importance of Study
32
1.6. The Planned Structure of the Research
32
1.7. Research Methodology
33
2. ARTIFICIAL INTELLIGENCE
35
2.2. Definitions and Functions of AI
35
2.4. Regulations on AI
38
2.5. Changes Brought by AI
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
2.6.3. AI in the Appointment of Board Members
51
2.7. AI and External Audit
54
2.7.3. Effects of AI on External Audit
56
2.7.4. Possible Uses of AI in External Audit
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
3.2. Definitions of Blockchain
72
3.3. Types of Blockchain
73
3.4. Characteristics of Blockchain
74
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
3.9.4. Having Annual General Meetings via Blockchain
98
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
3.9.6. Terminating the Company via Blockchain
111
4. DIGITALISATION AND CORPORATE GOVERNANCE
115
4.1. Corporate Governance
115
4.1.2. Digital Corporate Governance
118
4.2. The Principles of Corporate Governance within the Context of New
4.2.3. Accountability
126
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
4.3. Shareholder Rights
140
4.4. Minority Shareholders’ Rights
145
4.6. Board Diversity as a Current Corporate Governance Discussion
155
5.1. Significance and Contribution
163
1.2. Future of Research
166