Figure 1
The flowchart starts with a first text box on the left labeled “E M Discretionary Accruals.” A rightward arrow labeled “Positive Direct Correlation” from “E M Discretionary Accruals” leads to a second text box labeled “E S G Disclosure.” A third text box above is labeled “COVID-19 Pandemic.” A downward arrow from “COVID-19 Pandemic” leads to the arrow labeled “Positive Direct Correlation.” “E M Discretionary Accruals” has an icon of a bar graph and is enclosed within a rectangle showing an icon of an increasing arrow labeled “E M PRACTICES.” “E S G Disclosure” has an icon of a document and is enclosed within a rectangle showing an icon of a document labeled “E S G DISCLOSURE.” “COVID-19 Pandemic” has an icon of a fluctuating graph and is enclosed within a rectangle showing an icon of a fluctuating graph labeled “COVID-19 MODERATION.”Theoretical framework. Source: Created by author