Guide on Data and Methodology

This is the guide on data and methodology for the paper titled "Media Coverage and Goodwill Impairment".
Abstract of associated paper: This study examines how media coverage influences goodwill impairment reporting in China. We find that higher media scrutiny reduces abnormal goodwill impairment by constraining opportunistic reporting decisions through information, reputation, and regulatory sanction mechanisms. Both policy and market-oriented media coverage contribute to this reduction. Media coverage significantly inhibits firms from avoiding impairment rather than overstating it. Results suggest a substitution effect between media coverage and other corporate governance mechanisms, such as auditors and institutional investors. Our main findings hold after addressing endogeneity issues. Overall, our findings support that media scrutiny plays a monitoring role in curbing opportunistic goodwill impairment reporting.