The Moderating Effect of the COVID-19 Pandemic on the Relation between Corporate Governance and Firm Performance

The present study aims to investigate the association between corporate governance mechanisms and financial performance among companies listed on Tehran Stock Exchange (TSE). We also want know if COVID-19 global crisis moderates relationship them. sample consists of 1098 observations 183 TSE from 2016 2021; furthermore, statistical method used test hypotheses is panel data with random effects. In line our expectations, results show that coronavirus pandemic worsened Iranian performance. support agency theory, we figure out board independence, meeting frequency, expertise are correlated positively firm value. favor resource dependency this finds robust evidence audit committee size independence have a positive effect Most importantly, linkage expertise, size, was reversed during pandemic, although role frequency in profitability remained stable even outbreak. Furthermore, outcomes indicate CEO duality affects firms negatively, devastating became stronger pandemic. Finally, find involved mergers acquisitions (M&A) managed increase shareholders’ wealth using competitive advantage