Corporate governance practices of Colombian firms listed in the Merco ranking during the COVID-19 pandemic
DOI:
https://doi.org/10.17533/udea.rc.n85a08Keywords:
corporate governance, COVID-19, MERCO ranking, sustainability, SDGsAbstract
This paper examines corporate governance in the context of the COVID-19 pandemic. The aim is to investigate several variables associated with corporate governance, including gender diversity on boards, board size, the representation of women, the presence of independent members and committees, as well as the prioritization of the Sustainable Development Goals (SDGs). An exhaustive systematic analysis of the content of reports and statements from various corporations was conducted for this purpose. The study sample was derived from the Merco ranking, which evaluates the 100 most responsible corporations in Colombia, from which 39 companies were selected for a four-year period, totaling 156 observations. The results indicate that while there is a decline in women’s presence in management roles within corporations, there is a notable increase in their representation on boards of directors. Furthermore, there is evidence of a stronger company commitment to stakeholders, as revealed by the increased prioritization of the SDGs and the implementation of best corporate practices
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