The purpose of corporate governance mechanisms is to prevent opportunistic
behaviour by managers, in order to align the interests of owners and
managers. Following from this, our research topic is the analysis of
ownership concentration as an internal mechanism to protect the interests of
shareholders. In the study of the interdependence between ownership
concentration and shareholder protection, particular importance needs to be
given to the relationship between ownership structure, the role of the board,
and strategic decision-making. Starting from this interdependence, our
research aim is to examine the impact of ownership concentration on the
protection of shareholders? interests and the board?s responsibility for firm
strategy. This paper presents the results of an empirical, pilot study in the
Republic of Serbia. The research confirms the interdependence of corporate
governance mechanisms and strategic decision-making. Our findings indicate
that ownership concentration protects majority shareholder interests and
leads to lower board responsibility for strategic decision-making.
Corporate Governance Mechanisms in light of the COVID‐19 Crisis: How Financial Information and Regulation, Managerial Decision‐Making, and Policy Intervention Can Shape the Economic Recovery