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The Covid-19 pandemic and management controls

Author

Listed:
  • Hoa Ho
  • Christian Hofmann
  • Nina Schwaiger

Abstract

We examine how firms respond to the Covid-19 pandemic by adjusting their management controls and what the consequences are in terms of firms’ resilience to the crisis. We review literature that deals with the influence of the Covid-19 pandemic on business and investigate results from a survey conducted within a large international multi-divisional service firm and the German Business Panel. We find evidence consistent with the claim that the Covid-19 pandemic is associated with a shock to transparency and increased incentive problems. We document firms’ adjustments of their management controls in response to the Covid-19 crisis: Action controls are stronger, result controls are more flexible, and cultural controls are weaker. Regarding firms’ resilience, we provide supportive evidence that more resilient firms face a smaller shock to transparency, adjust their management controls to a smaller extent, and are associated with stronger cultural controls in terms of higher organisational trust.

Suggested Citation

  • Hoa Ho & Christian Hofmann & Nina Schwaiger, 2023. "The Covid-19 pandemic and management controls," Accounting and Business Research, Taylor & Francis Journals, vol. 53(5), pages 583-607, July.
    • Handle: RePEc:taf:acctbr:v:53:y:2023:i:5:p:583-607
    DOI: 10.1080/00014788.2023.2219158
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