Board Meetings and Financial Resilience: A Study of Taiwanese Manufacturing Firms During The Covid-19 Crisis

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Keywords: Corporate Governance, Financial Resilience, Board Meetings, COVID-19 Impact, Taiwanese Manufacturing Companies

Abstract: Abstract This study investigates the impact of board meetings on the financial resilience of Taiwanese manufacturing firms in the context of the COVID-19 crisis. Using panel data from 138 sample companies spanning the period from December 2019 to December 2020, we employ regression analysis to examine the relationship between corporate governance factors and financial performance. Our findings reveal that board meetings play a pivotal role in enhancing both return on assets (ROA) and return on equity (ROE) during challenging times. Furthermore, we identify dividend per share as a significant driver of overall firm performance. Surprisingly, the COVID-19 pandemic appears to have had a limited direct impact on the financial performance of Taiwanese manufacturing enterprises, owing to Taiwan's effective containment measures and its strategic position in the global industrial landscape. The results suggest that regular board meetings contribute to improved decision-making, strategic planning, and effective crisis management, ultimately benefiting shareholders. We recommend that policymakers consider implementing economic stimulus packages and tax policies to support businesses and workers during crises, while firms should focus on enhancing their capital financing capacity and proactive financial management strategies. This research contributes to the understanding of how corporate governance and resilience intersect in the face of unprecedented challenges, shedding light on effective strategies for firms and policymakers alike.