Suchergebnisse

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.

Directive 1937/2019 on the protection of persons who report breaches of Union law became effective very recently. However, Directive 1937/2019 lacks sufficient guidance on the implementation or governance of whistleblowing frameworks. In addition, the existing literature lacks a definition of whistleblowing and whistleblowing frameworks that is appropriate for internal audit and fraud prevention. The purpose of this paper is to address the lack of a definition of whistleblowing and whistleblowing framework appropriate for internal auditing and to guide the roles and responsibilities within an organization to apply and maintain a robust whistleblowing framework. To this effect, the Three Lines Model is used, one of the most recognized theoretical models in effective risk governance and internal audit.

Empirical research identifies whistleblowing as one of the most effective internal antifraud controls. Very recently, Directive 1937/2019 became effective in the EU, aiming to deal with the defragmentation of whistleblowing legislation among the member states and provide common minimum accepted standards. The present article aims to provide a verified, weighted comparative maturity model. The suggested model has been constructed based on the methodology for constructing comparative maturity models and validated based on the Delphi method. The weights on each validated component have been calculated based on the summing of votes method. The study resulted in eight main components «scope», «corporate governance», «reporting mechanisms», «protection», «tone at the top», «organizational and human resource practices», «investigations» and «monitor and review» divided further into 18 elements. The suggested maturity model may provide a pathway for organizations to develop and maintain a robust whistleblowing maturity framework that will benefit both the organizations and the public welfare.