Dynamic Corporate Governance, Innovation, and Sustainability: Post-COVID Period

Zoltán Csedő, József Magyari and Máté Zavarkó
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Zoltán Csedő: Department of Management and Organization, Corvinus University of Budapest, 1091 Budapest, Hungary
József Magyari: Department of Management and Organization, Corvinus University of Budapest, 1091 Budapest, Hungary
Máté Zavarkó: Department of Management and Organization, Corvinus University of Budapest, 1091 Budapest, Hungary

Sustainability, 2022, vol. 14, issue 6, 1-21

Abstract: Recent complex changes of the organizational environment urge the boards of directors of energy corporations to step up quickly in crises (e.g., COVID-19) and foster innovation, to seize new strategic opportunities (e.g., environmental, social, and governance (ESG) investments). The purpose of the study is to provide in-depth analyses of ESG projects during the COVID-19 pandemic, through the lens of an emerging theoretical approach, dynamic corporate governance (CG). The research is built on the multi-case study method at large energy companies and energy startups. The research goal was to empirically analyze theoretical opportunities of dynamic board behavior in this research context. The major findings show that ESG projects faced serious challenges in the fast-changing organizational environment generated by COVID-19, which induced board intervention regarding innovation, networks, and organizational changes. This study is among the first to offer a novel theoretical viewpoint, by integrating CG and strategic management theories, besides the already dominant financial and reporting aspects. From a practical perspective, our conclusions might direct the attention of boards of directors toward innovation, networks, and organizational changes, in order to enable adaptation in turbulent times and increase sustainability in the social and environmental dimensions.

Keywords: corporate governance; innovation; organizational change; inter-organizational networks; energy sector (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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