IDEAS home Printed from https://ideas.repec.org/a/gam/jjrfmx/v16y2022i1p1-d1008844.html
   My bibliography  Save this article

A Futuristic View of Using XBRL Technology in Non-Financial Sustainability Reporting: The Case of the FDIC

Author

Listed:
  • Rania Mousa

    (Accounting Department, Schroeder School of Business, University of Evansville, Indiana, IN 47715, USA)

  • Peterson K. Ozili

    (Governors Department, Central Bank of Nigeria, Garki, Abuja P.M.B. 0187, Nigeria)

Abstract

The rapid use and development of information and communication technology capabilities in the public sector has revolutionized the mechanism that government agencies use to collect, process, and disseminate data. Electronic government is one of the strategic initiatives that many government agencies have considered adopting to offer efficient web-based services and operations. Although there have been efforts to examine the implementation process of technological innovations in financial and business reporting, many government agencies are about to face a bigger challenge in developing or adopting current technologies to assess their usefulness for non-financial sustainability reporting. The Extensible Business Reporting Language, XBRL, has been adopted by the U.S. Federal Deposit Insurance Corporation (FDIC) to process financial data in the quarterly call reports filed by banks. Using Rogers’ well-established theory of innovation adoption process, this paper discusses the FDIC’s XBRL implementation process and investigates the roles and experiences of the agency’s stakeholders. A case study research methodology, supported by semi-structured interviews, is used to explore each phase of the implementation process. The findings reveal that the process was facilitated by stakeholder engagement, technical support, and the agency’s strategic decision-making process. This paper contributes to the literature by examining the applications, benefits, and challenges of using XBRL technology to process non-financial sustainability data, which is still an under-researched area. Therefore, the implications for using the technology in non-financial reporting will be insightful for future regulatory adopters and their stakeholders including filer banks, software vendors, and various users of financial and non-financial information.

Suggested Citation

  • Rania Mousa & Peterson K. Ozili, 2022. "A Futuristic View of Using XBRL Technology in Non-Financial Sustainability Reporting: The Case of the FDIC," JRFM, MDPI, vol. 16(1), pages 1-18, December.
    • Handle: RePEc:gam:jjrfmx:v:16:y:2022:i:1:p:1-:d:1008844
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1911-8074/16/1/1/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1911-8074/16/1/1/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. S Sreejesh & Sanjay Mohapatra & M R Anusree, 2014. "Business Research Methods," Springer Books, Springer, edition 127, number 978-3-319-00539-3, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Katarina Kostelić, 2021. "Game Awareness: A Questionnaire," Games, MDPI, vol. 12(4), pages 1-39, December.
    2. Min Guo & Cui Wang & Xiumin Yin & Liting Nie & Gongchao Wang, 2019. "Symptom clusters and related factors in oesophageal cancer patients 3 months after surgery," Journal of Clinical Nursing, John Wiley & Sons, vol. 28(19-20), pages 3441-3450, October.
    3. Pereira, Guillermo Ivan & Specht, Jan Martin & Silva, Patrícia Pereira & Madlener, Reinhard, 2018. "Technology, business model, and market design adaptation toward smart electricity distribution: Insights for policy making," Energy Policy, Elsevier, vol. 121(C), pages 426-440.
    4. Hamid Reza Khedmatgozar, 2021. "The impact of perceived risks on internet banking adoption in Iran: a longitudinal survey," Electronic Commerce Research, Springer, vol. 21(1), pages 147-167, March.
    5. Neukirchen, Thomas & Kleffmann, Markus & Koop, Wilhelm & Jäger, Stefanie & Klumpp, Matthias, 2017. "Evaluation von mobilen Trainingsanwendungen in der Logistik: Nutzerfeedback zur MARTINA-App," ild Schriftenreihe 56, FOM Hochschule für Oekonomie & Management, Institut für Logistik- & Dienstleistungsmanagement (ild).
    6. Mohammad Tariq Al Fozaie, 2023. "Behavior, religion, and socio-economic development: a synthesized theoretical framework," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-15, December.
    7. Yusef Ali Yusef Yakubi & Basuki Basuki & Rudi Purwono & Indrianawati Usman, 2022. "The Impact of Digital Technology and Business Regulations on Financial Inclusion and Socio-Economic Development in Low-Income Countries," SAGE Open, , vol. 12(3), pages 21582440221, August.
    8. Lilliana Stefanovic, 2022. "SDG Performance in Local Organic Food Systems and the Role of Sustainable Public Procurement," Sustainability, MDPI, vol. 14(18), pages 1-29, September.
    9. Skvarciany Viktorija, 2017. "Factors Influencing Private Customers′ Trust in Internet Banking: Case of Latvia," Economics and Culture, Sciendo, vol. 14(1), pages 50-57, June.
    10. Felix Geyer & Jens Lehnen & Cornelius Herstatt, 2018. "Customer Need Identification Methods in New Product Development: What Works “Best”?," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 15(01), pages 1-26, February.
    11. Matejun Marek & Mikoláš Zdeněk, 2017. "Small business life cycle: statics and dynamics (S&D) model," Engineering Management in Production and Services, Sciendo, vol. 9(4), pages 48-58, December.
    12. Gohary, Ali & Hamzelu, Bahman & Pourazizi, Lida & Hanzaee, Kambiz Heidarzadeh, 2016. "Understanding effects of co-creation on cognitive, affective and behavioral evaluations in service recovery: An ethnocultural analysis," Journal of Retailing and Consumer Services, Elsevier, vol. 31(C), pages 182-198.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:16:y:2022:i:1:p:1-:d:1008844. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.