The Interplay Between Digital Transformation and Corporate Governance Practices: A Systematic Literature Review

Corporate governance has undergone a significant transformation with the advent of digital transformation. However, existing literature on this relationship remains conceptually dispersed and lacks coherence. To address this gap, the present study seeks to assess the interplay between digital transformation and corporate governance by systematically analyzing and summarizing 40 research articles extracted from the Scopus and Web of Science databases. The review follows PRISMA methodology using predefined keywords, inclusion–exclusion criteria, and a transparent multiple screening procedure to provide a systematic and well-organized review of the existing literature. The research findings highlight that digital transformation may enhance decision-making, encourage innovations, and foster sustainability. Nevertheless, it calls attention to a strong regulatory structure to mitigate the associated risk of digital transformation implementation. Additionally, the study reinforces the argument that the corporate governance framework must evolve to account for the transformative impact of digital technologies. The present review extends prior academic understanding of digital transformation and corporate governance and proposes domains for future studies. Further, this comprehensive review offers meaningful insights to boards, policymakers, and regulators on the relationship between digital transformation and facets of corporate governance.