Finance, Law, and the Crisis of COVID-19: An Interdisciplinary Perspective

The Covid-19 pandemic has had a significant impact on various areas, including corporate social responsibility, legislation in SMEs, insolvency law, behavioral finance, government interventions in markets, financial disclosure, the emergence of unregulated financial sectors, the increase of coronavirus-related crimes, and the development of banking regulations. Governments and the international community prioritized preventing infections and caring for those affected, but this required an unusual increase in health spending and a review of transparency requirements. Financial management systems must be flexible and responsive to all occurrences, ensuring optimal use of resources and minimizing the risks of fraud and corruption.

Format: Hardback
Length: 235 pages
Publication date: 19 February 2022
Publisher: Springer Nature Switzerland AG

The COVID-19 pandemic has had a profound impact on various aspects of society, including corporate social responsibility, legislation in small and medium-sized enterprises (SMEs), insolvency law, behavioral finance, government interventions in markets, financial disclosure, the emergence of unregulated financial sectors, the increase in coronavirus-related crimes, and the development of banking regulations.

Corporate Social Responsibility:

The pandemic has put pressure on companies to prioritize their social responsibilities and adapt to the changing needs of their stakeholders. Many companies have responded by implementing measures to support their employees, customers, and communities, such as providing paid leave, donating resources to healthcare organizations, and implementing social distancing measures.

Legislation in SMEs:

The pandemic has also impacted legislation in SMEs, with governments implementing various measures to support these businesses during the crisis. These measures include tax relief, loan guarantees, and subsidies to help SMEs cope with the financial impact of the pandemic.

Insolvency Law:

The pandemic has led to an increase in insolvencies, particularly in sectors such as hospitality and travel. Insolvency law has been crucial in managing these situations, with courts and creditors working together to find solutions that protect the interests of all parties involved.

Behavioral Finance:

The pandemic has also brought attention to the role of behavioral finance in understanding and responding to economic crises. Researchers have studied the impact of fear, uncertainty, and other psychological factors on financial decision-making and have developed strategies to mitigate these effects.

Government Interventions in Markets:

Governments have intervened in markets to stabilize financial institutions and prevent a systemic collapse. These interventions include quantitative easing, bailout programs, and regulatory measures to ensure the stability of the financial system.

Financial Disclosure:

The pandemic has also highlighted the importance of financial disclosure in ensuring transparency and accountability in the financial sector. Companies have been required to disclose more information about their financial health and performance, which has helped investors make informed decisions.

The Emergence of Unregulated Financial Sectors:

The pandemic has led to the emergence of unregulated financial sectors, such as online lending and cryptocurrency, which have posed risks to consumers and the financial system. Governments have been working to regulate these sectors and protect consumers from fraud and abuse.

The Increase in Coronavirus-Related Crimes:

The pandemic has also led to an increase in coronavirus-related crimes, such as fraud, theft, and cyberattacks. Governments have been working to prosecute these crimes and protect the public from harm.

Banking Regulations in the COVID-19 Pandemic:

Finally, the pandemic has led to the development of new banking regulations to address the unique challenges posed by the crisis. These regulations include measures to support financial institutions, promote financial stability, and protect consumers from fraud and abuse.

In conclusion, the COVID-19 pandemic has had a profound impact on various aspects of society
of society, including corporate social responsibility, legislation in SMEs, insolvency law, behavioral finance, government interventions in markets, financial disclosure, the emergence of unregulated financial sectors, the increase in coronavirus-related crimes, and the development of banking regulations. Governments and the international community have been working tirelessly to address these challenges and ensure the safety and well-being of their citizens. However, there is still much work to be done to ensure that the consequences of the pandemic are minimized and that we emerge from the crisis stronger and more resilient than before.

Weight: 535g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030894153
Edition number: 1st ed. 2022