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The Covid-19 pandemic and management controls

Author

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  • Ho, H.
  • Hofmann, C.
  • Schwaiger, Nina

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

  • Ho, H. & Hofmann, C. & Schwaiger, Nina, 2023. "The Covid-19 pandemic and management controls," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 157170, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    • Handle: RePEc:dar:wpaper:157170
    Note: for complete metadata visit http://tubiblio.ulb.tu-darmstadt.de/157170/
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