Corporate governance under conditions of crisis

Abstract

The study investigates the consequences of the COVID-19 virus pandemic on the activities of the board of directors, corporate governance practices and the strategic context of companies’ activities. The purpose of the study - assess the readiness (after the fact) of the boards of directors to act in a crisis situation, the specifics of the practice of the boards of directors in the new realities, expectations of the long-term impact of the COVID-19 pandemic on corporate governance practices and the strategic context of the company’s activities. The article outlines some issues that are worth considering and that may be useful to the company’s management in terms of crisis management. A set of proposals has been formed to reduce the negative effects associated with the consequences of the pandemic for corporate governance, as well as ideas and practical proposals that can help companies reduce the costs of going through the current crisis.