The influence of the crisis on corporate governance and its legislative regulation: evidence from Ukraine

Abstract

The crisis caused by COVID-19 pandemic has affected the world community, changed the usual way of operating and managing each organization. The article aims to outline possible ways to optimize corporate management in crisis conditions in Ukraine. Based on the statistical methods the influence of COVID-19 pandemic on the activity of organisations in these conditions in Ukraine was determined, thus, this period was characterized by enterprises’ income fall, growing share of dismissed employees, new challenges for administrative staff in the area of innovation and change management etc. The most significant factors influencing the organization's crisis management were classified: negative (economic loss, lack of working capital, lack of demand for the products of the company, reducing staff, closing the economic areas that affect the company's operations, interruptions in the work of contractors) and positive (ensuring the stability of wages, changes in labor legislation, management flexibility, development of new forms of business, improving communication between the administration of the organization and the state). Determined that optimize crisis management organization possible through the implementation of management, economic and legislative measures. The optimization of crisis management of the organization will lead to economic development and preservation of human capital in the country.