Goodwill and Financialization in Pandemic à la Commons-Veblen: A New Interpretation

In the present study, the author offers a new framework for goodwill-based financialization during the COVID-19 pandemic within the Veblen-Commons synthesis. In this framework, intangible assets can be a source of firm differentiation, even in the modern business enterprise within the Veblenian context. Goodwill is an important intangible asset, and it can help to reduce uncertainty for economic agents during the pandemic in Commons’ approach. The findings for the manufacturing firms show this goodwill-financialization nexus under the Commons and Veblen framework during the pandemic. The present study, therefore, has the potential to contribute to the existing literature on the importance of goodwill to reduce uncertainty and maximize shareholder value during the pandemic.