Corporate governance, COVID-19, and financial inclusion: insights from OECD countries
摘要
The rapid progress in financial inclusion (FI) compels the Organization for Economic Co-operation and Development (OECD) economies to emphasize the role of corporate governance in reinforcing FI. This study investigates the effect of corporate governance and the COVID-19 pandemic on FI in 142 banks from 24 OECD countries between 2009 and 2021. Using the random effects and fixed effects method, our results demonstrate that corporate social responsibility positively impacts FI. Moreover, the findings reveal that board meetings and independent members positively enhance FI, while audit committee independence and board size have adverse effects. COVID-19 is shown to exert a positive and significant impact on FI. The results also affirm that bank size and deposit are positively associated with FI. These outcomes enable policymakers in the context of OECD countries to promote FI by focusing on good corporate governance regulations.