Table 2 Results of the measurement...

Table 2

Results of the measurement models

Constructs	Category	Related IASs/IFRSs	Items	Loading	Cronbach's alpha	CR	AVE
Financial factors (FF)
COVID-19 causes a reduction of movement in inventory during strict lockdown period	Inventory	IAS-2	FF1	0.778	0.814	0.870	0.573
Cash inflows of an enterprise have been reduced or deferred due to COVID-19	Cash flows	IAS-7	FF2	0.742
Receivables and contract assets collection period will increase due to this pandemic	Revenue	IFRS 15	FF3	0.792
COVID-19 likely affects the measurement of financial instruments by increased credit risk	Financial instruments	IFRS 9	FF4	0.746
COVID-19 may result in an unavoidable liability or a loss-making contract	Contingent liabilities	IAS 1 and 37	FF5	0.724
Business operations (BO)
An entity's ability to continue as a ‘going concern’ may be affected in this pandemic	Survivability	IAS 1	BO1	0.825	0.832	0.899	0.749
Business will provide necessary disclosures of all events after the reporting date amid pandemic	Future activity	IAS 10	BO2	0.913
COVID-19 likely affects the disclosure of significant accounting policies	Strategic activity	IAS 1	BO3	0.856
Business value (BV)
COVID-19 likely causes a fall in an organization's stock price	Share price	IAS-33	BV1	0.811	0.855	0.892	0.624
Impairment of non-financial assets will be significantly influenced as COVID-19 has reduced inventory movement, production capacity (less usage of machine) and other key resources	Impairment	IAS 36	BV2	0.713
COVID-19 likely causes impairment of investment in an associate or joint venture	Impairment	IAS 36	BV3	0.795
COVID-19 likely affects the fair values of investments in subsidiaries, associates, and joint ventures	Fair value	IFRS 13	BV4	0.823
COVID-19 likely affects the costs and depreciation of PPE if the capital projects are suspended	PPE	IAS 16	BV5	0.803
Business contracts (BC)
COVID-19 likely affects the terms of a lease between a lessor and a lessee	Agreement	IFRS 16, IAS 23	BC1	0.728	0.805	0.860	0.551
COVID-19 likely affects the changes to terms of any borrowing or loan agreement			BC2	0.747
Rent concessions during pandemic may create strong impact on accounting estimates and disclosure			BC3	0.737
Customer contracts may be affected or invalid due to the pandemic			BC4	0.754
COVID-19 likely affects business formation in terms of consolidation, associate and joint venture	Mergers/Acquisition	IFRS 10 and 12	BC5	0.744
Stockholders (SH)
COVID-19 likely affects the reaction of governments' measures (tax rebates, supports, etc.)	Government	IAS 12 and 20	SH1	0.891	0.880	0.917	0.736
Government may provide the opportunity to carry forward tax liability amid COVID-19	Government	IAS 12 and 20	SH2	0.874
COVID-19 likely affects the recognition of liability of the employee benefits	Employee	IAS 19	SH3	0.879
COVID-19 likely affects the liability towards suppliers based on share-based payment	Supplier	IFRS 2	SH4	0.783
Financial reporting and disclosure (FRD)
Coming years' financial reporting may require special attention to adjust the effects of pandemic	Pandemic related disclosure	IAS 8 and IAS 37	FRD1	0.860	0.797	0.881	0.712
Accounting estimates and policies should be prudent amid COVID-19			FRD2	0.801
Financial statements require more disclosure of events, estimates, policy and uncertainties arising from this pandemic			FRD3	0.869

Constructs	Category	Related IASs/IFRSs	Items	Loading	Cronbach's alpha	CR	AVE
Financial factors (FF)
COVID-19 causes a reduction of movement in inventory during strict lockdown period	Inventory	IAS-2	FF1	0.778	0.814	0.870	0.573
Cash inflows of an enterprise have been reduced or deferred due to COVID-19	Cash flows	IAS-7	FF2	0.742
Receivables and contract assets collection period will increase due to this pandemic	Revenue	IFRS 15	FF3	0.792
COVID-19 likely affects the measurement of financial instruments by increased credit risk	Financial instruments	IFRS 9	FF4	0.746
COVID-19 may result in an unavoidable liability or a loss-making contract	Contingent liabilities	IAS 1 and 37	FF5	0.724
Business operations (BO)
An entity's ability to continue as a ‘going concern’ may be affected in this pandemic	Survivability	IAS 1	BO1	0.825	0.832	0.899	0.749
Business will provide necessary disclosures of all events after the reporting date amid pandemic	Future activity	IAS 10	BO2	0.913
COVID-19 likely affects the disclosure of significant accounting policies	Strategic activity	IAS 1	BO3	0.856
Business value (BV)
COVID-19 likely causes a fall in an organization's stock price	Share price	IAS-33	BV1	0.811	0.855	0.892	0.624
Impairment of non-financial assets will be significantly influenced as COVID-19 has reduced inventory movement, production capacity (less usage of machine) and other key resources	Impairment	IAS 36	BV2	0.713
COVID-19 likely causes impairment of investment in an associate or joint venture	Impairment	IAS 36	BV3	0.795
COVID-19 likely affects the fair values of investments in subsidiaries, associates, and joint ventures	Fair value	IFRS 13	BV4	0.823
COVID-19 likely affects the costs and depreciation of PPE if the capital projects are suspended	PPE	IAS 16	BV5	0.803
Business contracts (BC)
COVID-19 likely affects the terms of a lease between a lessor and a lessee	Agreement	IFRS 16, IAS 23	BC1	0.728	0.805	0.860	0.551
COVID-19 likely affects the changes to terms of any borrowing or loan agreement			BC2	0.747
Rent concessions during pandemic may create strong impact on accounting estimates and disclosure			BC3	0.737
Customer contracts may be affected or invalid due to the pandemic			BC4	0.754
COVID-19 likely affects business formation in terms of consolidation, associate and joint venture	Mergers/Acquisition	IFRS 10 and 12	BC5	0.744
Stockholders (SH)
COVID-19 likely affects the reaction of governments' measures (tax rebates, supports, etc.)	Government	IAS 12 and 20	SH1	0.891	0.880	0.917	0.736
Government may provide the opportunity to carry forward tax liability amid COVID-19	Government	IAS 12 and 20	SH2	0.874
COVID-19 likely affects the recognition of liability of the employee benefits	Employee	IAS 19	SH3	0.879
COVID-19 likely affects the liability towards suppliers based on share-based payment	Supplier	IFRS 2	SH4	0.783
Financial reporting and disclosure (FRD)
Coming years' financial reporting may require special attention to adjust the effects of pandemic	Pandemic related disclosure	IAS 8 and IAS 37	FRD1	0.860	0.797	0.881	0.712
Accounting estimates and policies should be prudent amid COVID-19			FRD2	0.801
Financial statements require more disclosure of events, estimates, policy and uncertainties arising from this pandemic			FRD3	0.869

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