Corporate governance and COVID-19: a literature review

Koutoupis, Andreas; Kyriakogkonas, Panagiotis; Pazarskis, Michail; Davidopoulos, Leonidas G.

doi:10.1108/cg-10-2020-0447

Cited by 81 publications

(54 citation statements)

References 59 publications

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“…The coronavirus pandemic was declared by the World Health Organization in March 2020 (Golubeva, 2021; Le and Nguyen, 2022; Sajjad, 2021). Capital control has emerged as the biggest challenge for society, including for companies (Koutoupis et al , 2021). Businesses must respond swiftly to intense adjustments and adopt a proactive method of strolling capital to ensure the further hazard of overcoming diverse challenges effectively.…”

Section: Introductionmentioning

confidence: 99%

Does the efficiency of working capital management affect a firm’s financial distress? Evidence from UAE

Habib

Kayani

2022

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Purpose This study aims to explore the relative efficiency of the working capital management (WCM) for Emirati firms before and during the coronavirus crisis. Next, this study explores the potential impact of WCM on the likelihood of financial distress. Design/methodology/approach A data envelopment analysis (DEA) was applied to assess the relative efficiency of the WCM. This study uses the emerging market Z-score model to predict the likelihood of financial distress. The logistic regression was applied to investigate the impact of the efficiency of WCM on firms’ financial distress. Findings The results of this study model showed a negative and significant influence of the efficiency of WCM on firms’ financial distress likelihood. Practical implications The findings have important implications for many stakeholders, including decision makers, WC managers, financiers, investors, financial consultants, researchers and others, in increasing their awareness of firms’ WCM performance before and during the crisis. Further, the results could have implications for trading strategies as investors seek attractive economic gains from their investment in firms that care about WCM. Social implications The implications of WCM performance on social interests would cause firms’ decision makers to operate efficiently and achieve the best practices to minimise the probability of firms' financial distress. Originality/value This study advances a novel contribution to the literature by introducing a novel model to assess WCM based on DEA technology.

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Section: Introductionmentioning

confidence: 99%

Does the efficiency of working capital management affect a firm’s financial distress? Evidence from UAE

Habib

Kayani

2022

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“… Literature Koutoupis et al. ( 2021 ) 62 studies published in 2020 N.A. The impact of COVID has been studied mainly in developed countries.…”

Section: Table A1mentioning

confidence: 99%

Resilience of Environmental and Social Stocks under Stress: Lessons from the COVID‐19 Pandemic

Abedifar

Bouslah

Neumann³

et al. 2022

Financial Market

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This paper examines whether environmental and social (ES) activities affect the resiliency of firms during the COVID-19 crisis. We study a sample of 330 firms operating in five developed countries: Canada, France, Japan, the UK and the US. Our analysis shows that US firms with a high ES ranking experienced a significantly lower stock price range volatility during the Covid stock market rundown of February-March 2020. Such findings also hold for Japanese firms but only later on after the introduction of government support. In terms of returns, compared to their peers with a low ES ranking, Japanese and UK stock prices with a high ES ranking suffered more during and after the market rundown.For other countries, we do not find significant differences in stock price behavior based on ES ratings. Our findings suggest that engaging with ES activities is not associated with a better or worse performance during crisis times, which has important implications for investors and managers.

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“…Moreover, in the context of COVID-19, and within the theoretical framework, corporate governance has been studied mainly in developed countries. Therefore, more studies in developing and emerging countries are needed to gain an insight into their specific contexts (Koutoupis et al , 2021).…”

Section: Introductionmentioning

confidence: 99%

Effects of quick response to COVID-19 with change in corporate governance principles on SMEs’ business continuity: evidence in Vietnam

Nguyen

2022

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Purpose The purpose of this paper is to evaluate the negative impacts of the Coronavirus Disease-2019 (COVID-19) emergency on small- and medium-sized enterprises’ (SMEs) business continuity (BC) by examining the moderating role of corporate governance principles (CGP) on SMEs’ BC in the context of an emerging market. Design/methodology/approach Based on an extended literature review on the negative impacts of the COVID-19 emergency, CGP and BC studies, the authors evaluate the impact of these constructs on SMEs’ BC in an emerging market. This paper follows a quantitative approach. The study sample was composed of 334 responses covering directors, managers and owners of enterprises. The Smart PLS SEM version 3.3.2 was used to analyse the data from SMEs of Vietnam in the year 2021. Findings The findings of this study clarify the areas of the COVID-19 consequences that negatively affect the BC. In addition, this study reveals that CGP moderates the links between COVID-19 outcomes and BC, whereby good CGP can facilitate a business to reduce the adverse effects of COVID-19 on BC. In addition to this, good CGP can help a firm to enhance its capability to respond to fluctuations in the external environment of the business. Originality/value To the best of the authors’ knowledge, this is the first research that examines the moderating role of CGP. The originality of this study is that it gives an insight into how SMEs in an emerging economy overcome the adverse effects of the COVID-19 emergency on BC to keep their business going, and moreover, have the ability to move towards sustainability in today’s challenging context. This study provides the theoretical and managerial implications that may be of great interest to the academics, business practitioners and policymakers.

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Corporate governance and COVID-19: a literature review

Cited by 81 publications

References 59 publications

Does the efficiency of working capital management affect a firm’s financial distress? Evidence from UAE

Does the efficiency of working capital management affect a firm’s financial distress? Evidence from UAE

Resilience of Environmental and Social Stocks under Stress: Lessons from the COVID‐19 Pandemic

Effects of quick response to COVID-19 with change in corporate governance principles on SMEs’ business continuity: evidence in Vietnam

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