stakeholder theory

Holding companies collect funds from subsidiaries and allocate them to important areas (Internal Capital Market). Managers of holding companies have the ability to transfer funds between subsidiaries. Some specific orientations cause the non-optimal allocation of financial resources. One of the concerns of investors is investing in companies where transparency is fully implemented. Companies are trying to achieve this by implementing corporate governance mechanisms. In this research, using a systematic review method, the dimensions of corporate governance were extracted with the stakeholder theory approach. Finally, in order to examine the question of whether the managers of holding companies consider the interests of all stakeholders when using the internal capital market or not, according to the assumptions of the research, the dimensions of corporate governance on stakeholders have been investigated. To investigate this relationship, a set of questions based on Likert scale about the measured variables of the target society was designed. After data collection, finally, data analysis was done by statistical method using SPSS software and structural equations using SPLS software, and the results of path analysis and causal relationships between the research variables were interpreted in the conceptual model. The data analysis also showed that the value of the path coefficient, the effects of dimensions and components of corporate governance and stakeholders, is a positive value. The null hypothesis of the research is rejected and the opposite hypothesis is confirmed. This shows that there is a relationship between the effects of corporate governance dimensions and stakeholders. The direct effect value indicates a strong and high effect size. As a result, the interests of all stakeholders should be considered.

Leveraging supplementary technology such as Blockchain has the potential to alter the stakeholders involved in a system. Paying attention to stakeholders is one of the main pillars of developing a system. Evidence has shown that Blockchain can solve existing challenges and add new capabilities. These actions will change the stakeholders of PHR. If a value is different for everyone, at the first stage, stakeholders should be identified, and that is our goal in this study. The research adhered to the guidelines outlined in the PRISMA statement. To this end, the study utilized databases including MEDLINE, ScienceDirect, and Google Scholar for English language articles, while the "iranjournals.nlai.ir" database was accessed for Persian language articles. Finally, 35 articles were chosen from searching databases, and six extra articles were selected from reviewing the final articles' references. Stakeholders were categorized into 15 groups. The patient (individual) was identified as the most frequent stakeholder (41 times), and infrastructure providers and the token exchange market were mentioned once each. The usage type is categorized into four groups: direct user interaction, data user, impact user, and financial beneficiaries, comprising six, eight, four, and four stakeholders, respectively. Patients (individuals) use the four groups, and health care providers, policymakers, hospitals, and the government each use two groups. Intelligent contracts are neglected in PHR, which can significantly impact the motivation and creation of incentives for using different stakeholders. The grouping presented here can be used in the preparation of the business model of PHR based on Blockchain. Data has the most usage for stakeholders and strengthens and supports investments in technologies such as Blockchain as an infrastructure for creating data markets, new business models, and creating value.