Corporate governance, financial indicators and asset impairments during the COVID-19 pandemic period

Thanyaluk Vichitsarawong and Li Li Eng

Finance Research Letters, 2023, vol. 58, issue PD

Abstract: This study examines the effect of corporate governance and financial indicators on long-lived asset and goodwill impairments during pre-COVID-19 and COVID-19 periods for a sample of United States (U.S.), France, Germany and the United Kingdom (U.K.). We find that goodwill impairment is greater during the COVID-19 than the pre-COVID-19 periods for all four countries, and long-lived asset impairment is greater during the COVID-19 period for the U.S. and the U.K. The effects of corporate governance on asset impairments and the effects of short-term financial indicators (cash flow and/or sales) and long-term financial indicators (stock returns) vary by country.

Keywords: Asset impairment; Goodwill impairment; Corporate governance; Financial indicators; COVID-19 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pd:s1544612323009996

DOI: 10.1016/j.frl.2023.104627

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