The supervisory role of applying governance mechanisms to reduce the effects of the Covid-19 pandemic in the public shareholding insurance companies listed on the Palestine Stock Exchange

Authors

Abdul Rahman M. Rashwan, Abdulnaser Nour

 

Abstract

The study aimed to identify the supervisory role of applying governance mechanisms to reduce the effects of the Covid-19 pandemic in the public shareholding insurance companies listed on the Palestine Stock Exchange. Governance Committees (72) working in insurance companies listed on the Palestine Stock Exchange, numbering (5) companies, and a comprehensive inventory method was used due to the small size of the study population. The results of the study concluded that the boards of directors of the insurance companies listed on the Palestine Exchange are aware of the limits of their role and responsibility in providing control over management, and applying effective governance mechanisms to manage the state of uncertainty resulting from the Covid-19 pandemic crisis. The insurance companies listed on the Palestine Exchange also disclose the role of Governance mechanisms in contributing to the development of the necessary measures to reduce the effects of the pandemic, and the managements of these companies adopt the application of governance mechanisms in light of the Covid-19 pandemic, which need to provide the necessary support from takeholders. The study recommended that the public shareholding insurance companies listed on the Palestine Exchange should disclose the effects caused by the Covid-19 pandemic on the directions and operations of these companies, and the measures they have taken to address the negative effects resulting from the pandemic that affected their financial and administrative performance. Companies and their boards of directors to develop appropriate mechanisms for corporate governance practices through the participation of many stakeholders and corporate departments to counter the negative effects of the COVID-19 pandemic.

DOI: 10.51958/AAUJBL2023V7I2P4