The last 3 decades have featured systemic corporate misconduct, increased shareholder activism, and recurrent global financial crises. This has led to debates in business, society, and academia about CG and how corporations are managed and controlled. How have corporations responded? Haxhi's publication in the journal Elgar Online (co-authored with Northeastern University researcher Ruth Aguilera) looked at the following developments: 

• Corporate owners, boards and managers had to work together more closely due to the global Covid health crisis. They had to react quickly to deal with working remotely and shortages in the global value chain. These challenges required them to become more agile and flexible so they could adapt to the new normal.
• Increased shareholder activism that can partly be explained by additional tools for shareholders. These tools enable them to express themselves and influence boards and managers. This can be seen in the significant increase in shareholder proposals dealing with compensation, diversity, sustainability, and board membership renewal.
• Corporations are under pressure from society to address climate change and social inequality. There is also pressure from investors in shareholder-oriented firms to spread the wealth. This was part of the reason why BlackRock’s CEO and 181 CEOs of the Business RoundTable asked their investee firms to focus more on corporate purpose. It is yet to be seen whether this social movement started by Unilever’s CEO and followed by Danone’s CEO (subsequently fired) will change how firms relate to their stakeholders. 
• In the recent ESG (Environmental, Social and Governance) movement, Governance is clearly the pillar that determines what happens with the environment and the social aspects. Corporate boards are spending more time discussing how to incorporate ESG practices into their overall strategy.
• The economy is moving from digital and virtual to big data and artificial intelligence. Boards and companies are looking for experts in these fields. They are also using these innovative technologies to be more informed and efficient in their decisions. A big challenge for companies is assessing the cybersecurity risks they face.

These comparative CG insights are valuable because they show how corporate practices are changing to meet modern challenges. Haxhi emphasises that CG is not converging towards a single particular model. Instead, these practices continue to evolve to adjust to societal needs.