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Interactive data and retail investor decision-making: an experimental study

Author

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  • Joanne Locke
  • Alan Lowe
  • Andy Lymer
  • Gary Monroe

Abstract

type="main" xml:id="acfi12048-abs-0001"> The results of an experimental study of retail investors' use of eXtensible Business Reporting Language tagged (interactive) data and PDF format for making investment decisions are reported. The main finding is that data format made no difference to participants' ability to locate and integrate information from statement footnotes to improve investment decisions. Interactive data were perceived by participants as quick and ‘accurate’, but it failed to facilitate the identification of the adjustment needed to make the ratios accurate for comparison. An important implication is that regulators and software designers should work to reduce user reliance on the comparability of ratios generated automatically using interactive data.

Suggested Citation

  • Joanne Locke & Alan Lowe & Andy Lymer & Gary Monroe, 2015. "Interactive data and retail investor decision-making: an experimental study," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 55(1), pages 213-240, March.
    • Handle: RePEc:bla:acctfi:v:55:y:2015:i:1:p:213-240
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    File URL: http://hdl.handle.net/10.1111/acfi.2015.55.issue-1
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    Cited by:

    1. Indrit Troshani & Nick Rowbottom, 2021. "Digital Corporate Reporting: Research Developments and Implications," Australian Accounting Review, CPA Australia, vol. 31(3), pages 213-232, September.
    2. Cantarella, Simona & Hillenbrand, Carola & Brooks, Chris, 2023. "Do you follow your head or your heart? The simultaneous impact of framing effects and incidental emotions on investment decisions," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 107(C).
    3. Jie Zhou, 2020. "Does one size fit all? Evidence on XBRL adoption and 10‐K filing lag," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(3), pages 3183-3213, September.
    4. Rikhardsson, Pall & Yigitbasioglu, Ogan, 2018. "Business intelligence & analytics in management accounting research: Status and future focus," International Journal of Accounting Information Systems, Elsevier, vol. 29(C), pages 37-58.

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