Ownership structures and corporate governance: A systematic analysis

Abstract

This study aimed to analyze the ownership structures and corporate governance. Good corporate governance helps companies become more efficient, improve access to finance, reduce risk, and avoid substandard governance (Kontogeorga et al., 2022; Mustafa & Morina, 2022; Prasad et al., 2022; Lapina et al., 2016; Raja & Kostyuk, 2015). The study has followed a qualitative research paradigm and systematic review protocol, specifically the PRISMA technique, and included 65 papers published in journals with impact factors during the timeline of 2010–2022, focusing on Europe, the Middle East, Asia, and the US by taking topics like time, article type, regions, topics, theory breakdown for ownership structure, theory breakdown for corporate governance, and research methods. It was found that most of the papers were published in 2022. The majority of the articles were empirical, and most were published in Europe. The mainstream papers were related to corporate governance. The theory used in the breakdown of ownership structure was the firm theory, while for corporate governance, the theory was the agency theory, and most of the articles utilized the analysis method. The study recommended that, despite significant research in this area, further research is still needed, especially in developed countries. Most research work is experimental and, and therefore, requires a substantial amount of conceptual work.