Abstract
This study aims to systematically review the key characteristics and issues of corporate governance and ownership (CGO) research and to offer directional suggestions concerning the future of CGO research. The Systematic Assessment Quantitative Technique (SQAT) was used to identify and analyze 65 peer-reviewed CGO articles from six high-quality academic databases. The study covered 2009 to 2019 and there is evidence of a growing number of CGO articles over the number of years covered. Most of the studies have taken place in Asia and Europe, while South America has the lowest number of studies. 98% of CGO research has been empirical in nature, which calls for more conceptual studies to give more understanding of the research area because knowledge is dynamic. The primary focus of the articles has been on firm performance and closely followed by regulatory policies. All the CGO articles adopted the quantitative research method, using mainly critical analysis. However, combining both quantitative and qualitative methods will make future studies more robust and give additional insight into various issues of CGO. Finally, the use of only six databases which although contains high quality, peer-reviewed articles, but not all peer-reviewed CGO articles were in the databases. Future systematic reviews can widen the scope of databases to gain further insight.
Highlights
The erosion of close to $10 trillion in market capitalization from global equity markets in October 2008 as a result of Lehman Brothers holdings Inc. demise raised concerns about corporate governance practices (Lioudis, 2019)
International Journal of Research in Business & Social Science 10(6) (2021), 63-72 Geographical Distribution of corporate governance and ownership (CGO) Articles Figure 2 presents the geographical distribution of the 65 corporate governance (CG) articles reviewed in this study
This paper reviewed 65 peer-reviewed journal articles dealing with Corporate Governance and Ownership These articles were examined along six key categories, including the time distribution of the articles, geographical distribution of the article, article type, research themes, theories reviewed and research methods
Summary
The erosion of close to $10 trillion in market capitalization from global equity markets in October 2008 as a result of Lehman Brothers holdings Inc. demise raised concerns about corporate governance practices (Lioudis, 2019). Corporate governance is defined as a set of interrelated mechanisms that has strategic or institutional complementarities to align the conflict of interests between principals and agents; this is dependent on certain combinations, including ownership structure (AlQadasi & Abidin, 2018). It represents institutional arrangements, decision-making mechanisms, and organizational design (Liu & Zhang, 2017). Corporate governance is the relationship among shareholders, the board of directors and the top management in determining the direction and performance of a corporation; corporate governance variables like board size, board composition, board skills and chief executive officer (CEO)/chair duality may have a direct impact on decisions (Bajagai et al, 2019)
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