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Corporate governance and COVID-19: a literature review

Andreas Koutoupis (Department of Accounting and Finance, University of Thessaly, Volos, Greece)
Panagiotis Kyriakogkonas (School of Economics, Business and Computer Science, Neapolis University Paphos, Pafos, Cyprus)
Michail Pazarskis (Department of Economics, International Hellenic University, Thermi, Greece)
Leonidas Davidopoulos (Department of Accounting and Finance, University of Thessaly, Volos, Greece)

Corporate Governance

ISSN: 1472-0701

Article publication date: 8 June 2021

Issue publication date: 22 September 2021

6079

Abstract

Purpose

The purpose of this study is to review the literature on corporate governance (CG); environmental, social and governance (ESG) issues and corporate social responsibility (CSR) during the Coronavirus disease 2019 (COVID-19) pandemic and addresses three research questions: What are the characteristics of the literature on CG and COVID-19? What are the themes in CG in the COVID-19 era? and What are key areas of future research on CG and COVID-19?

Design/methodology/approach

The authors attempted a systematic literature review of 62 studies published in 2020. The authors used four criteria to identify characteristics of the literature on CG and COVID-19 and three criteria to identify key themes in the literature addressing CG and the pandemic. The authors analyzed answers to the above research questions and proposals from studies reviewed to guide future research.

Findings

CG in the context of COVID-19 has been studied mostly in developed countries and within a theoretical framework. As accounting data are insufficient, more research is required in all countries (developed, emerging and other). Further, there are no conclusive results regarding the relevance of ESG and CSR to financial performance. Future research should use additional methodologies and data sources to fully explain the impact of COVID-19 on CG.

Practical implications

Practitioners and policymakers could benefit from the study, as the authors present key challenges to CG for the present and the future.

Originality/value

This study is the first to provide a systematic literature review on CG during the COVID-19 pandemic and presents current trends, challenges and avenues for future research.

Keywords

Citation

Koutoupis, A., Kyriakogkonas, P., Pazarskis, M. and Davidopoulos, L. (2021), "Corporate governance and COVID-19: a literature review", Corporate Governance, Vol. 21 No. 6, pp. 969-982. https://doi.org/10.1108/CG-10-2020-0447

Publisher

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Emerald Publishing Limited

Copyright © 2021, Emerald Publishing Limited

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