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Economic Consequences Of Internet Financial Reporting

Author

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  • Alfred Wagenhofer

Abstract

The paper considers two major economic effects created by the Internet for financial accounting and disclosure. First, the Internet changes the costs of information processes and with it the demand and supply of financial information in capital markets. Second, Internet financial reporting creates a demand for standardization, which has been taken up with the development of XBRL. It is argued that while XBRL is designed to standardize only the format of information, it will also standardize contents. Finally, the paper discusses the issue of assuring high quality Internet financial reporting.

Suggested Citation

  • Alfred Wagenhofer, 2003. "Economic Consequences Of Internet Financial Reporting," Schmalenbach Business Review (sbr), LMU Munich School of Management, vol. 55(4), pages 262-279, October.
    • Handle: RePEc:sbr:abstra:v:55:y:2003:i:4:262-279
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    Citations

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    Cited by:

    1. Nirosh Kuruppu & Peter Oyelere & Hamdan Al Jabri, 2015. "Internet Financial Reporting And Disclosure Practices Of Publicly Traded Corporations: Evidence From Sri Lanka," Accounting & Taxation, The Institute for Business and Finance Research, vol. 7(1), pages 75-91.
    2. Verawaty, 2016. "The Comparative Analysis of Accessibility Index Value of Government Internet Financial Reporting in Indonesia," Applied Finance and Accounting, Redfame publishing, vol. 2(2), pages 1-10, August.
    3. Valentinetti, Diego & Flores Muñoz, Francisco, 2021. "Internet of things: Emerging impacts on digital reporting," Journal of Business Research, Elsevier, vol. 131(C), pages 549-562.
    4. Diego Valentinetti & Michele A. Rea, 2013. "XBRL for Financial Reporting: Evidence on Italian GAAP versus IFRS," Accounting Perspectives, John Wiley & Sons, vol. 12(3), pages 237-259, September.
    5. Soriya Sushila & Dhaigude Amol, 2016. "A Study of Corporate Web-Based Reporting in Hotel Industry," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 6(11), pages 661-680, November.
    6. André Gräning & Carsten Felden & Maciej Piechocki, 2011. "Status Quo and Potential of XBRL for Business and Information Systems Engineering," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 3(4), pages 231-239, August.
    7. Valentinetti, Diego & Rea, Michele A., 2012. "IFRS Taxonomy and financial reporting practices: The case of Italian listed companies," International Journal of Accounting Information Systems, Elsevier, vol. 13(2), pages 163-180.

    More about this item

    Keywords

    Financial Reporting; Disclosure; Internet; Standardization; XBRL; Auditing.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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