An Investigation of the Link between Major Shareholders’ Behavior and Corporate Governance Performance before and after the COVID-19 Pandemic: A Case Study of the Companies Listed on the Iranian Stock Market

One of the basic functions establishing corporate governance (CG) in companies is improving performance and increasing value for shareholders. Expanding company’s will ultimately increase shareholders’ wealth. Therefore, it natural shareholders to seek improve their value. If CG mechanisms cannot perform this function companies, they do not have necessary efficiency effectiveness and, therefore, companies. This article investigated connection between power major modality listed on Iranian capital market before after COVID-19 pandemic. The statistical sample research included 120 Tehran Stock Exchange selected period from 2011 2021. results showed that concentration ownership harmful adopting (GCG) practices. In particular, high level voter weakens system (CGS). study, which was conducted using panel analysis, revealed impairs quality CGS, challenge main shareholder; alsonegatively affected business boards, both during competitiveness voting rights negatively board composition also COVID-19, COVID-19. positively CGS