Did Emotional Intelligence Traits Mitigate COVID-19 Uncertainty Effects on Financial Institutions’ Board Decision-Making Process?

Jessica Hall, Gregory Jones, Claire Beattie and John Sands ()
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Jessica Hall: AustralianSuper, GPO Box 1901, Melbourne 3001, Australia
Gregory Jones: School of Business, University of Southern Queensland, Toowoomba 4352, Australia
Claire Beattie: School of Business, University of Southern Queensland, Toowoomba 4352, Australia
John Sands: School of Business, University of Southern Queensland, Toowoomba 4352, Australia

JRFM, 2024, vol. 17, issue 3, 1-13

Abstract: This study uses a qualitative research mixed methods design to explore the Coronavirus pandemic’s uncertainty effect on mature board governance practices and a board decision processes framework within 16 large Australian financial services entities. Findings provide support for two effects. Firstly, the Coronavirus pandemic had led to a hesitation effect on the board members on-going journey of developing a conscious sense of ‘self’ and awareness. Secondly, the skills and diversity of personalities of directors comprising the board has a positive impact on the effectiveness and success of strategic decisions. The ongoing ambiguity impact of the Coronavirus pandemic on effective board decision-making processes was investigated. The board members expressed confidence in the Australian financial services sector’s ability to overcome the global Coronavirus pandemic’s temporary uncertainty impact on board decision processes frameworks. Future research may extend the focus to senior executives’ or owners’ EI personality traits to investigate the relationship between such individual’s or teams’ traits and ongoing effective board decision-making processes during uncertainty in either developing or developed countries or a cross-cultural study.

Keywords: Coronavirus pandemic; COVID-19; bank director; bank board; decision processes; effectiveness (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2024
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