Impact of Corporate Governance on Financial Resilience During COVID-19 in Bangladesh

Through analysis of pre-pandemic and pandemic data (2019–2024), this study examines the associations of board size, board independence, ownership concentration, and audit committee with financial resilience (profitability, liquidity, and leverage), respectively. Companies with strong profitability, stable liquidity, and sustainable leverage are the most resilient during market disruptions. While firms that could not buffer themselves against financial shocks either broke or had to adapt to a more dysfunctional long-term way of operating even during times of steady state, emerging evidence indicates strong governance frameworks during steady state allowed the firm to be more fluid and responsive to changing environments during crisis events .